January 2020 – State of Innovation Newsletter
A Fresh Start
Choose New Jersey has officially moved into our new main office in Newark! Our space in One Gateway will put us in a strategic position to showcase the assets and access that New Jersey offers, with views of the New York City skyline, Port Newark and Newark Liberty International Airport. We are thrilled to be neighbors with NJEDA and Governor Murphy’s satellite office on the 14th floor, which will create a one-stop shop for companies considering a New Jersey location. Choose New Jersey’s Open House – held after our Annual Board of Directors meeting at Horizon Blue Cross Blue Shield headquarters across the street – was a huge success. Our board members, partners and Governor Murphy and First Lady Tammy Murphy were all in attendance to celebrate. We believe this marks an exciting chapter in our organization’s future and will lend itself to new possibilities.
A Year in Review
Marking a decade since inception, Choose New Jersey had most successful year to date with 58 companies relocating or expanding in New Jersey, 10,103 new and retained jobs and generating over $1 billion in capital investment.
New Jersey Economic Trends
0
%
Unemployment Rate
▼ Decrease .4% YoY | US: 3.5%
▲
0
%
U.S. Consumer Price Index
2.3% YoY
+
0
%
US GPD (YoY)
NJ GDP: 2.3% Q2 2018 to Q3 2019
*Rate of change exceeds all Northeastern states and higher than California
Bond Rating
Moody: A3
XXX No change over 2019, stable
S&P: A-
XXX No change over 2019, stable
Sources: U.S. Department of Labor, U.S. Department of Commerce, U.S. Bureau of Labor Statistics
Big Moves
Best for Tech
Newark, NJ was named one of the top 10 best cities in America for computer programmers. The rankings were based on affordability and available job openings.
Moving Up
Visikol is moving its headquarters to a 6,400-square-foot space in Hampton with room to grow. The biotech company is a Rutgers University spin-out and a NJEDA incubator graduate.
JobsNJ
Governor Murphy announced the JobsNJ plan to close the employer-employee skills gap and provide more training and opportunities for New Jersey residents.
Board Spotlight
Cushman & Wakefield
Cushman & Wakefield brokered the lease for anchor tenant Deloitte’s new space at proposed M Station project in Morristown. New Jersey’s vibrant downtowns are bringing new meaning to live, work + play.
IUOE 825
Greg Lalevee, Business Manager of IUOE 825, details how New Jersey’s construction unions are preparing for automation and training the next generation of workers during ROI-NJ’s Thought Leadership event on the future of vo-tech.
CEO Corner - Jose Lozano
In a few short weeks, Choose New Jersey will be heading back to Israel for another industry and academia-led business attraction mission. Building off the success of Governor Murphy’s trip to Israel in 2018 with the New Jersey delegation, we will deepen existing relationships and uncover new opportunities for collaboration. With a focus on high-tech sectors, we will meet with Israeli companies interested in growing in North America and our university counterparts on the forefront of innovative research. Our State remains committed to Israeli investment, and we will emphasize Governor Murphy’s message: New Jersey is where Israeli companies can take their business to the next level. You can follow all our activities on social media with the hashtag #NJIsraelMission.
Point of Pride
In 2019, 50% (!) of all new FDA drug approvals came from companies with a New Jersey footprint.
Notable & Quotable
“As we have grown, we have really enjoyed building our business in New Jersey and have found it to be a great location for being close enough to clients but also affordable wherein we can provide our clients with best-in-class services at an attractive price point.”
– Dr. Michael Johnson, Visikol CEO
WHAT CAN CHOOSE New Jersey DO FOR YOU
Relocation & Expansion Services
We provide customized RFI responses, demographics, detailed market assessments and other complimentary business relocation and expansion services. When your company chooses to grow in New Jersey, we also will help you publicize your good news.
Site Visits
We’ll make your property search seamless, so you find the site that best meets your relocation or expansion needs.
Economic Development Connections
Our public and private partners provide a wide range of services. From higher education research collaboration to regulatory and legal assistance to workforce training, they’ll ensure you have a smooth landing.
Carly Wronko
Director of Marketing
Ingrid Austin
PR & Communications Manager