March 2021 – State of Innovation Newsletter

NJIT & Ben-Gurion University of the Negev
Announce Formation of New Institute
for Future Technologies

Hosted at Choose New Jersey’s Newark office, Governor Murphy, President Chamovitz of Ben-Gurion University of the Negev and President Bloom of New Jersey Institute of Technology announced a partnership that will create a world-class Institute for Future Technologies in New Jersey. These two powerhouse universities in the fields of cyber technology and environmental engineering will come together to offer dual degrees and exciting research opportunities. 

Current economic hardships reflect the global COVID-19 pandemic.

New Jersey Economic Trends

0
Jobs Created

▲Increase .27% from January to February

0 %
Unemployment Rate

▲Increase 6.5% YoY | U.S. 6.7%

0 %
U.S GDP

Q4 2020 | 33.40% Q3 2020

0 %
U.S. Consumer Price Index

▲ Increase 1.7% 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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Choose NJ Assisted

Welcome to NJ

 Swedish biotech Ascelia is establishing a U.S. presence to prepare for the launch of new candidate drug Mangoral. Ascelia chose a Woodbridge location to set up operations and sales teams.

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A Plant-Based Powerhouse

Innovation Foods is building a $45M processing and packaging plant creating 40 jobs in Millville. The expansion will help the company continue its co-manufacturing partnership with Oatly.

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Soak it Up

Scrub Daddy, Inc., the smiley face sponge company featured on ABC’s Shark Tank and founded by a Voorhees entrepreneur, plans to consolidate its Pennsylvania locations into a new Pennsauken headquarters.

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Board Spotlight

Students walking under Ramapo College archway

Ramapo College of NJ

Congratulations to Dr. Cindy R. Jebb who has been named the 5th president of the Ramapo College of New Jersey. We look forward to this new era of leadership and Ramapo’s continued success as a leading
liberal arts college. 

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Rutgers University Life Sciences

BioNJ

Join us at BioNJ’s Virtual Two-Day BioPartnering Conference on May 18-19, 2021! This event will bring together life sciences professionals from 24 states and 11 countries. Meet investors and industry executives with 1:1 partnering meetings, attend plenary sessions and build your professional network.

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CEO Corner - Jose Lozano

This week I was thrilled to hear the Biden administration announce a major offshore wind plan to bolster East Coast projects with the goal to generate 30 gigawatts of offshore wind in the U.S. by 2030. President Biden’s efforts will target new wind energy areas between New Jersey and New York and also includes a green light by the Interior Department’s Bureau of Ocean Energy Management to advance Ørsted’s Ocean Wind project. This is welcome news for New Jersey as the project expects to generate $1.17B in economic benefits and create thousands of good-paying union jobs. New Jersey is a rising offshore wind leader and we are grateful to be a part of President Biden’s vision for a clean energy future.

Point of Pride

Women's History Month graphic featuring Toni Morrison, Clara Barton and Ruth Bader Ginsberg

Many of the world’s most admired creators, innovators and social justice advocates have New Jersey roots. For Women’s History Month, we honor Nobel Laureate and Princeton University professor Toni Morrison, American Red Cross founder Clara Barton who also established Bordentown’s first public school and U.S. Supreme Court Justice and Rutgers Law School professor Ruth Bader Ginsburg.

Notable & Quotable

“We spent three extraordinary weeks filming in Paterson, New Jersey. To the people […] of Paterson, thanks not only for putting up with our trailers, tents, cranes and mid-street dance sequences; from the bottom of my heart, thanks for the warm welcomes we encountered everywhere, from pedestrians and policeman and neighborhoods and kids. We couldn’t have made our musical without you.”

-Steven Spielberg, Director & Producer, on filming West Side Story in Paterson, NJ

Steven Spielberg, American Film Director

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
Editorial Content Manager