January 2021 – State of Innovation Newsletter

Hudson Holdings Group:
A "Made in America" Success Story

Choose New Jersey celebrated the grand opening of Hudson Holdings Group’s PPE production facility in Piscataway this week. Expected to hire 200 employees to make 90 million masks per month, the company is onshoring PPE manufacturing in response to supply chain disruptions during the COVID-19 crisis. Our team assisted the company in the site selection process, identifying employee benefit providers, executive recruiters and facilitated financing conversations. Welcome to New Jersey, Hudson Holdings Group!

Current economic hardships reflect the global COVID-19 pandemic.

New Jersey Economic Trends

0
Jobs Lost

▼Decrease .16% from November to December

0 %
Unemployment Rate

▲Increase 3.9% YoY | U.S. 6.7%

0 %
U.S GDP

  Q4 2020 | 33.20% Q3 2020

0 %
U.S. Consumer Price Index

▲Increase 1.4% YoY

Bond Rating

Moody: A3

Outlook change from 2019, negative

S&P: A-

Outlook change from 2019, negative

Sources: U.S. Department of Labor, U.S. Department of Commerce, U.S. Bureau of Labor Statistics

Big Moves

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Across the River

Brooklyn beverage company 3V Co., maker of Smartfruit, chose a Clifton site to increase its manufacturing capabilities.

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Growing NJ’s Economy

Governor Murphy officially signs the New Jersey Economic Recovery Act of 2020, marking a major step forward to provide relief, nurture growth, and attract new businesses.

Read More

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Best for Biotech

Contract resource organization (CRO) Visikol Inc. is expanding its Hampton facility to accommodate a growing team, new equipment and service offerings. 

Read More

Board Spotlight

New Jersey Devils

New Jersey Devils  

January 14th marked the first NJ Devils game in over 300 days! We are thrilled to welcome back NHL hockey to the Prudential Center in Newark.

GO DEVILS! 🏒 

Choose New Jersey board meeting

Welcome New Board Members

We are excited to announce SUEZ North America, Amazon, Teva Pharmaceuticals and South Jersey Industries (SJI) will be joining the Choose New Jersey Board of Directors. Thank you for your support!

CEO Corner - Jose Lozano

Choose New Jersey CEO Jose Lozana talks about the global interest increase in New Jersey due to the COVID-19 pandemic.

Choose New Jersey recently spearheaded a #MaskUpNJ social media influencer campaign on behalf of the State of New Jersey to encourage residents to practice safety protocols and download the COVID Alert NJ app. As we believe that public health drives economic health, this correlates to our organization’s mission to stimulate job creation and attract capital investment to New Jersey. I was grateful to be featured live on Yahoo! Finance news to talk more about this important effort.   

Point of Pride

montclair grad

Did you know that New Jersey is recognized as “The Smartest State in America”? Over 40% of New Jersey’s workforce holds a bachelor’s degree or higher and 16% of our workforce has an advanced graduate or professional degree.

Notable & Quotable

“Cross River was born in Teaneck, raised in Fort Lee, and thriving thanks to the support of our friends and neighbors in New Jersey. We are surrounded by some of the most innovative technology and financial services companies, a vibrant entrepreneurial workforce, and government leaders who work tirelessly to support the growing fintech ecosystem.”

-Phil Goldfeder, SVP Public Affairs, Cross River

Read about how Cross River has become one of the nation’s top PPP lenders in our NJ Buzz Blog. 

Phillip Goldfeder, Cross River Bank

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 Creative & Digital Marketing
Tiffany Hess-Bennette
Creative Content Specialist