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January 2022 – State of Innovation Newsletter

Choose New Jersey is excited to welcome Wesley Mathews as our new President & CEO and look forward to having him join our team in February! In an interview with ROI-NJ, Wesley described why choosing New Jersey was a “no-brainer” and how he’s excited for the opportunity to return to the State after launching NJEDA’s Office of International Trade in 2018. Wesley also spoke about his experience as a career diplomat, the importance of attracting international investment and why increasing efforts in East Asia is on Choose New Jersey’s wish list

Current economic hardships reflect the global COVID-19 pandemic.

New Jersey Economic Trends

0
Jobs created

▲ Increase 0.88% from October to November

0 %
Unemployment Rate

Decrease 3.6% YoY | U.S. 4.2%

0 %
U.S GDP

  Q3 2021 | 6.70% Q2 2021

0 %
U.S. Consumer Price Index

▲ Increase 6.8% 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

BioCentriq expands its clinical manufacturing facilities for cell and gene therapy in South Brunswick

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Clifton-based Better Team USA selected to create Opening Ceremony parka for 2022 U.S. Olympic Teams

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Governor Murphy signs legislation to bolster New Jersey Film & Digital Media Tax Credit Program

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NJBIA, New Jersey’s county colleges teaming up to create NJ Pathways to Career Opportunities

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Board Spotlight

Photo of Rowan University's Bunce Hall

Rowan University

Rowan announces NJ’s 1st School for Veterinary Medicine and new School for Entrepreneurship & Innovation. 

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Digital rendering of The Hub

DEVCO

DEVCO’s $1.5B real estate pipeline and high-profile projects like The Hub mark an impressive legacy.

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Notable & Quotable

“It was especially important to us that we harness [our] growth here in Bergen County, which provides proximity to Manhattan while allowing us to tap into an abundance of highly skilled tech talent in the surrounding region.”

– Sam Gutmann, CEO of OwnBackup

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.

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.

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