Choose New Jersey Touts Assistance That Attracted, or Retained, 33 Firms

Linda Moss | CoStar News

Despite the pandemic, economic development organization Choose New Jersey helped 33 companies relocate or expand in the Garden State last year, resulting in 1,455 jobs being created or retained and generating over $607 million in capital investments.

The nonprofit group, based in Newark at One Gateway Center, outlined those achievements Tuesday when it released its 2020 annual report. In a statement, Choose New Jersey said its accomplishments last year built on its success “strengthening New Jersey’s economy over the last decade by generating over 19,000 new and retained jobs, assisting over 300 companies and generating $6.2 billion in capital investment.”

Choose New Jersey offered several case studies in its report. For example, while meeting with Gov. Phil Murphy and the group’s delegation in Mumbai, India, Lupin Limited announced that its U.S. subsidiary, Lupin Pharmaceuticals, was going to expand its footprint in New Jersey with an investment of $42.6 million. Lupin is the fourth-largest U.S. pharmaceutical company by prescriptions.

Its expansion at 400 Campus Drive in Somerset will add additional space for manufacturing, research and development, product development, laboratory, packaging, warehouse and office space. After the project is completed, the facility will support over 300 highly skilled jobs, according to Choose New Jersey’s report.

Choose New Jersey also cited its work with Rovagnati, a charcuterie company based in Biassano, Italy, that was was looking to break into the U.S. market. The nonprofit introduced Rovagnati to a commercial real estate firm and local officials in South Jersey. As a result, Rovagnati won approval to build a 64,000-square-foot production and wholesale distribution facility in Vineland.

Rovagnati USA intends to expand that facility to about 500,000 square feet over the next five years, creating 25 to 150 jobs.

“Choose New Jersey had our most successful year in 2019 with 58 companies committed to relocating or expanding in New Jersey — a 29% increase over 2018,” the report said. “Our pipeline remains strong with 426 companies interested in a New Jersey location (leads) and 133 companies in the final stages of the site selection process (opportunities). In line with our business attraction missions from the past two years, most projects are coming from India, Germany, Ireland and Israel.”

For every dollar contributed to the privately funded nonprofit group last year, Choose New Jersey said it invested nearly $200 back to the state’s economy.

“Choose New Jersey was founded during a recession 10 years ago, and today we are in the midst of another economic crisis,” Jose Lozano, president and CEO of Choose New Jersey, said in a statement. “Over the last 10 years, we have seen incredible growth, and I have no doubt that New Jersey will rebuild from this pandemic stronger than ever. I want to thank Gov. Murphy, the New Jersey Economic Development Authority, as well as all of our ambassadors, partners, and education advocates for their support.”

Read the full article here.

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