Choose New Jersey released our 2021 Annual Report highlighting record job growth and our efforts behind major attraction projects like early stage investor and seed accelerator HAX and global fintech company Fiserv. This year, we assisted 32 companies in relocating or expanding to New Jersey, resulting in 7,629 new and retained jobs and generating $1.6B in capital investment. Approaching the 11th year of the organization’s founding, we have assisted a total of 335 companies resulting in 38,997 new and retained jobs and generating $7.7B in capital investment.
New Jersey Economic Trends
*Labor and unemployment data not yet released for February
▲ Increase 0.31% from December to January
▼ Decrease 1.4% YoY | U.S. 3.9%
Q3 2021 | 6.70% Q2 2021
▲ Increase 7.5% YoY
Bond Rating
Moody: A3
Outlook change from 2020, stable
S&P: BBB+
Outlook change from 2020, positive
Sources: U.S. Department of Labor, U.S. Department of Commerce, U.S. Bureau of Labor Statistics
Big Moves
Indian IT services company Tata Consultancy Services (TCS) plans to expand STEM programs, add 1,000 employees by 2023
German multinational skincare manufacturer Beiersdorf opens new Innovation Center in Florham Park to expand global R&D
Biopharma leader Intercept Pharmaceuticals will relocate global HQ from New York City to Crum & Forester building in Morristown
Clinical stage biotech company Tevogen Bio is growing in New Jersey with a new corporate hub in Warren to develop cell and gene therapies
Board Spotlight
Notable & Quotable
“The Beretta family is in love with New Jersey. It is our point of entry, our starting point here in America.”
–Simone Bocchini, President & CEO, Fratelli Beretta
2022 BIO International Convention
Choose New Jersey, BioNJ and NJEDA are excited to be leading the New Jersey presence at the 2022 BIO International Convention from June 13-16 at the San Diego Convention Center! This annual event attracts 15,000+ biotech and pharma leaders from around the world and is a great opportunity to showcase your brand for thousands of eyes to see. Learn more about New Jersey Pavilion sponsorship opportunities.
