September 2021 – State of Innovation Newsletter

2026 world cup, fiserv & HAX

This was a busy and exciting month for the Choose New Jersey team! We had a leading role in pitching New Jersey as the ideal location for the 2026 World Cup tournament, Fiserv’s headquarters and the new HAX accelerator. Along with our State partners, we put into perspective all the assets and accessibility New Jersey offers, resulting in major wins.

⚽ We were thrilled to welcome the FIFA committee for the New York/New Jersey host city bid for the 2026 World Cup. We are confident that NY/NJ will be a top contender for the tournament!

💸 Fiserv, a Fortune 500 fintech company, will be expanding its footprint in New Jersey. The company will open a new Berkeley Heights office employing 3,000 tech workers.

⚙️ Global VC firm SOSV is choosing Newark to be the home of the new HAX accelerator. After a competitive search, SOSV ultimately decided that Newark would be the best place to support the growth of hard tech startups.

Current economic hardships reflect the global COVID-19 pandemic.

New Jersey Economic Trends

0
Jobs created

▲ Increase 0.68% from July to August

0 %
Unemployment Rate

Decrease 3.8% YoY | U.S. 5.2%

0 %
U.S GDP

  Q2 2021 | 6.40% Q1 2021

0 %
U.S. Consumer Price Index

▲ Increase 5.3% 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

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Clean Energy

The New Jersey Wind Port broke ground as a first-in-nation infrastructure investment. The port has potential to create up to 1,500 manufacturing, assembly, and operations jobs, as well as hundreds of union construction jobs.

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Job Creation

Party City became the first company to win an award under the Emerge Program, a new NJEDA job creation incentive program. The Fortune 500 company will bring its HQ & 357 new jobs to Bergen County.

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Sports Betting

Sports betting company Prophet announced it is opening a HQ on the Hudson in Hoboken – widely regarded as one of the main gambling hubs outside of Atlantic City & Las Vegas. This further solidifies NJ as the new home of sports betting in the U.S. 

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Board Spotlight

Montclair state & PSEG

Montclair State University & PSEG are helping move New Jersey toward its ambitious energy goals by extending their collaborative partnership which aims to focus on increasing sustainability in communities across the state.

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NJIT Clocktower

NJIT

New Jersey Institute of Technology was among the 50 best schools in the country for undergraduates who want to become entrepreneurs. The university offers 17 credit-bearing entrepreneurship courses and extracurricular activities.

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CEO Corner - Jose Lozano

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We are absolutely thrilled that SOSV chose Newark for the new HAX accelerator, and that Fiserv chose Berkley Heights for its new office. I can’t overstate the positive impact this will have on our State, and will put us on the map as a thriving tech hub. Through many meetings, presentations, pitchbooks and tours we showcased New Jersey’s amazing talent, top universities, and robust infrastructure. Ultimately, both companies  recognized the value of a New Jersey location. In addition, New York/New Jersey was proud to host the FIFA committee visit to present MetLife Stadium as a world-class facility to host the tournament. I am incredibly proud of the work of my team and their dedication to these projects. We look forward to supporting the success of HAX, Fiserv and possibly the 2026 World Cup! 

Bellworks Flexible Workspace

Point of Pride

Hybrid work is here to stay, and New Jersey is becoming increasingly desirable for companies adopting these new work models. With robust broadband access, flexible workspaces, and one of the top 50 best work-from-home cities, we have it all. Check out this month’s NJ Buzz Blog to learn more about why New Jersey is built for hybrid work.

Notable & Quotable

“We are excited to be here. We have been very well received by the Governor, the Mayor, and the whole team. Their passion for their game, and their passion to bring the World Cup to New York and New Jersey comes through very clearly.”

-FIFA Vice-President and Concacaf President Victor Montagliani

Victor Montagliani

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.

Tiffany Hess-Bennette
Editorial Content Manager