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March 2022 – State of Innovation Newsletter

Commemorating St. Patrick’s Day, New Jersey Governor Phil Murphy announced he will lead a four day, two-city economic mission trip to Ireland in April with a delegation of Choose New Jersey, New Jersey Economic Development Authority (NJEDA), and senior administration officials as well as key business and academic leaders. The delegation will visit Dublin and Cork to build on existing relationships, find new opportunities for partnerships, and demonstrate why New Jersey is the best place for Irish companies to grow in the U.S.

New Jersey Economic Trends

0
Jobs created

▲ Increase 0.70% from January to February

0 %
Unemployment Rate

Decrease 2.6% YoY | U.S. 3.8%

0 %
U.S GDP

  Q4 2021 | 2.3% Q3 2021

0 %
U.S. Consumer Price Index

▲ Increase 7.9% YoY

Bond Rating

Moody: A2

Outlook change from 2021, 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

PitchBook ranks New Jersey among top 10 U.S. states for VC dollars invested, securing $5.5B in 219 deals in 2021.

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Choose New Jersey was proud to welcome UAE Consul General Almheiri during her first visit to New Jersey to discuss business ties.

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Global biopharma Gilead is looking to expand its presence in New Jersey and create an East Coast hub that will employ 500 people.

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Japanese biopharma Eisai opens new U.S. HQ at ON3 in Nutley, state-of-the-art facility to accommodate 1,300 employees, new Innovation Center. 

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Board Spotlight

Photo of Rowan University's Bunce Hall

Rowan University

Rowan University received a $500K federal workforce training grant for offshore wind to prepare students for New Jersey’s clean energy future.

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Audible-Wired-for-Business

Audible

Audible, a subsidiary of Amazon, announces a $1M deal with 1Huddle, a Newark-based workforce tech startup, for onboarding and training.

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Notable & Quotable

“We continue to invest in New Jersey as a location because it has phenomenal talent.  As a company, we want our workforce to reflect the diversity of the patients — and New Jersey allows us to do that.”

Joydeep Ganguly, Senior VP, Corporate Operations, Gilead

2022 International Partnering Forum (IPF)

2022 International Partnering Forum (IPF), the premier offshore wind conference in North America, is from April 26-28th at the Atlantic City Convention Center. Choose New Jersey is kicking off the conference with the New Jersey Reception at the Sheraton Hotel. Attendees will enjoy live music by the B Street Band and sip New Jersey craft beer while networking with offshore wind professionals. Reception sponsors will have their brand on view for hundreds of the world’s top clean energy executives. To discuss sponsorship opportunities, contact Mariel Kokotajlo at mkokotajlo@choosenj.com or 609.297.2187. 

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