Choose New Jersey Reports Record Wins and nearly $1 Billion in Economic Impact

Newark, NJ — Choose New Jersey, New Jersey’s leading nonprofit business attraction organization, released its 2024 Annual Report at the Q4 board meeting, highlighting a record-breaking year for economic development in New Jersey. The organization assisted 62 companies in relocating or expanding to New Jersey — the highest number of companies in its history — resulting in more than 2,100 new and retained jobs and delivering $987 million in economic impact in 2024.

“Choose New Jersey continues to strategically target companies and industries — both domestically and abroad — that will strengthen our state’s economy,” said Ralph LaRossa, Chairman of Choose New Jersey and Chair, President, and Chief Executive Officer of PSEG. “I am proud that Choose New Jersey’s impact continues to grow and of the record-setting efforts of the team and board members in 2024. Thanks to Choose New Jersey, more companies are realizing the value of locating in our state and that New Jersey truly is the best place to work, live, and play.”

This year’s achievements also included the opening of the New Jersey Asia Pacific Center and the New Jersey West Coast Center — the first domestic center outside the state — and a global marketing campaign positioning New Jersey as a premier destination for growing a business and raising a family.

“Over the years, Choose New Jersey has been instrumental in driving economic success by helping businesses relocate or expand in our state, creating thousands of jobs and opportunities,” said Governor Murphy. “As we look ahead, I am especially proud of the foundation Choose New Jersey has built, ensuring continued growth and success for years to come.”

In 2024, the Choose New Jersey team led a series of impactful economic missions to key global markets, including the UAE, Canada, the United Kingdom, and India, as well as domestically to California. These missions strengthened ties to governments and key stakeholders, highlighted New Jersey’s leadership in innovation and emerging industries, and fostered new partnerships to drive investment and growth across the state. By showcasing the state’s strengths in fintech, AI, and renewable energy, as well as advancing strategic collaborations for institutions of higher education, Choose New Jersey reinforced New Jersey’s position as a premier destination for business.

“As we reflect on 2024, it is clear that New Jersey is not just competing on the global stage — it’s leading,” said Wesley Mathews, President and CEO of Choose New Jersey. “This year’s historic accomplishments prove that our state offers unparalleled opportunities. With dedicated offices in global innovation hubs, we’re ensuring New Jersey is top of mind for industries shaping the future. I’m proud of the Choose New Jersey team for building a foundation of growth and success that will continue to inspire businesses and innovators to call New Jersey home.”

“This is New Jersey,” the organization’s multi-million dollar advertising campaign, strengthened Choose New Jersey’s impact throughout 2024. The campaign showcased New Jersey’s assets to global audiences in critical markets and reached decision-makers around the world. The promotional effort showcased New Jersey’s business strengths and high quality of life, as well as breakout campaigns to promote the AI ecosystem and economic momentum.

Another key element of Choose New Jersey’s advertising strategy is the strategic use of sports and entertainment assets. In-stadium and digital placements were prominently displayed at MetLife Stadium and the Prudential Center during New York Giants, New York Jets, and New Jersey Devils games. Additionally, Choose New Jersey extended its reach by advertising at Philadelphia 76ers games. Looking ahead, with the recent addition of the New York Red Bulls to the Choose New Jersey board, ads are scheduled to be featured at their games in 2025, further expanding the organization’s ability to market the state.

Choose New Jersey is poised for success in 2025 as it continues its mission to attract and grow businesses in the state. By strengthening its strategies, the organization will build on its commitment to fostering economic growth and innovation in New Jersey. This includes focusing on high-profile economic missions, expanding marketing opportunities, and maintaining a strong presence at key industry trade shows to solidify the state’s position as a leader in business development.

Click here to view the annual report online.

About Choose New Jersey

Choose New Jersey is the state’s leading non-profit business attraction organization. We harness the collective power of New Jersey’s business, government, labor, and academic sectors to expand New Jersey’s economy. We work globally, using our marketing expertise, concierge business development services, deep knowledge of the state, and convening power, in collaboration with state government, to empower businesses, entrepreneurs, leaders, and innovators to make New Jersey their home. To learn more, visit choosenj.com.