July 2020 – State of Innovation Newsletter

Repowering The State of Innovation Webinar Series

Choose New Jersey is excited to kick off the first event in our new #RepoweringNJ webinar series! Our first discussion will be on the COVID-19 Impact on New Jersey’s Real Estate Market on August 4th at 10am.

Hear from experts at Cushman & Wakefield, JLL, New Brunswick DEVCO and Onyx Equities on the future of corporate real estate (CRE), remote work and business location trends, opportunities and challenges in New Jersey. Spaces are limited, RSVP today! 

Current economic hardships reflect the global COVID-19 pandemic.

New Jersey Economic Trends

0
Jobs Created

▲Increase 3.58% from May to June

0 %
Unemployment Rate

▲Increase 13.30% YoY | U.S. 11.10%

0 %
U.S GDP

Q2 2020

0 %
U.S. Consumer Price Index

Increase 0.6% YoY

Bond Rating

Moody: A3

XXX No change over 2019, negative

S&P: A-

XXX No change over 2019, negative

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

Big Moves

At Home in Princeton

Danish biotech firm Genmab officially moved into its new U.S. headquarters office and R&D labs in Princeton Forrestal Center and is looking to expand its NJ workforce. 

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Helping Small Business

The NJEDA has supported over 10K small businesses impacted by COVID-19 with $44.2M in grants, low-cost loans, partnerships with investors and CDFIs. 

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Finding Fulfillment

Amazon Logistics plans to bring thousands of jobs to New Jersey and open 14 new delivery stations in 2020. Amazon has over 10 distribution centers currently operating throughout NJ.

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Board Spotlight

Montclair Innovation Lab, Montclair, New Jersey

Montclair State University

Carley Graham Garcia, Executive Director at the Feliciano Center for Entrepreneurship and Innovation at Montclair partnered with us to highlight New Jersey’s talented and resilient entrepreneurs during COVID-19. 

Read the Blog

Prudential tower in Newark, NJ

Prudential Financial & NJ American Water

Prudential and New Jersey American Water were named among the top 10 best places to work for disability inclusion. On the 30th anniversary of the ADA, we applaud industry leaders making their workplaces more accessible for all. 

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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.

In the midst of the COVID-19 landscape, many companies around the world are still making relocation and expansion decisions. I talked with ROI-NJ recently about how global interest in New Jersey has picked up during the pandemic. Many are considering New Jersey to address the supply chain challenges posed by the outbreak. Our business development team has seen that international firms are looking to diversify their manufacturing and distribution sites to meet demand in the U.S. Our strategic East Coast location, transportation infrastructure and highly educated workforce make New Jersey the perfect fit. In addition, we offer all the accessibility (and more space to grow) at a more affordable price than New York City. 

Point of Pride

The arts scene in Newark continues to thrive in the face of a global pandemic 🎨 We are proud to call New Jersey’s largest city our home filled with creators and innovators. Check out this month’s feature story on Newark in the New York Times

Notable & Quotable

“I am proud that I now have the privilege and the responsibility to lead an institution that is committed to making the world better while also opening its doors to that world.”

– Jonathan Holloway, 21st President of Rutgers, The State University of New Jersey on his first day. Dr. Holloway is the first Black president in the university’s 253-year history. 

Jonathan Holloway, 21st President of Rutgers, The State University of New Jersey

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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