Onyx reveals plans for life sciences hub NEST

November 2022 – State of Innovation Newsletter

We hope you had a fantastic Thanksgiving! November reminds us to be thankful for so much. We are grateful to live in a state that invests in education – the root of economic development. Governor Murphy signed legislation to expand access to STEM education this month, helping to ensure that New Jersey remains a top state for education in the United States.

We are also pleased to announce that India-based Meteoric Biopharmaceuticals has expanded its global operations to Morris Plains, New Jersey. The first-generation, research-driven, diversified global biopharmaceuticals leader worked with our New Jersey India Center to position itself for success in the United States.

Between decorating and holiday shopping, we hope you’ll take a few minutes to read our latest blog discussing the rich past, present, and future of manufacturing in our State. It may even inspire you to purchase some gifts made here in New Jersey!

New Jersey Economic Trends

Jobs created

▲ Increase 0.18% from September to October

0 %
Unemployment Rate

Decrease -2.0% YoY | U.S. 3.70%

0 %

  Q3 2022 | -0.60% Q2 2022

0 %
U.S. Consumer Price Index

▲ Increase 7.7% YoY

Bond Rating

Moody: A2

Outlook change from 2021, stable

S&P: A-

Outlook change from 2021, positive

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

Big Moves

The improved Terminal A at Newark Airport features wider sidewalks, more restaurants and shops after security, and more.

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Fiserv’s new 428,000-square-foot office and research location just opened in Berkeley Heights. The property will eventually house more than 3,000 employees.

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11 of the fastest-growing North American companies are right here in New Jersey, according to Deloitte. They include Kiswe, Avidon Health, and Accely.

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The website Money’s annual list of the Best Places to Live in the U.S. includes three New Jersey towns.

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Board Spotlight


Hackensack meridian health

One of the largest and most comprehensive healthcare construction projects in the United States is taking place at Hackensack Meridian Health. The expansion will cost about $714 million.

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eSports at Stockton

Our NJ Buzz Blog delves into the state’s growing eSports presence in higher education institutions such as Stockton, NJIT, and Montclair State University.

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Notable & Quotable

“Having a physical presence in New Jersey is essential for Meteoric to reach the next level in biopharmaceutical manufacturing. In addition to its ideal proximity to our target markets, New Jersey has one of the most advanced pharmaceutical ecosystems in the United States. We are thrilled to plant roots here, while continuing to prioritize quality assurance for clients old and new.”

Gaurav Kaushik,

MD & CEO of Meteoric Biopharmaceuticals


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.

Rebecca King
Editorial Content Specialist
Ingrid Austin
PR & Communications Manager