Top 10 Reasons Why Your Business Should Locate in New Jersey

If you are looking to take your business to the next level, the State of New Jersey has it all. Our Northeast location provides unmatched access to key consumer markets. New Jersey’s robust transportation system makes it easy to move people and products around the world. We have one of the most highly educated, highly skilled workforces in the United States. There is simply no better place in North America for business relocation or expansion.

#1 Hire America’s Best and Brightest

As the most densely populated state in the country, New Jersey offers companies a highly educated workforce. Forty percent of New Jersey residents graduated from college with a bachelor’s degree or higher. It’s no wonder why New Jersey was ranked the  “Smartest State in America” according to a study by SafeHome.org.

New Jersey also boasts the highest concentration of scientists and engineers per square mile in the United States. 

#2 Tap into a world-class education system

New Jersey invests in our students’ education to help us build the foundation for innovation. Our state has the #1 public school districts in America and we are ranked the #1 state for early childhood education. 

Princeton University was named the #1 university in America for a consecutive decade. New Jersey’s top colleges and universities prepare tomorrow’s workforce. They also produce world-class research and provide public-private collaboration opportunities.

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#3 A central location to reach target markets

New Jersey gives companies access to one of the most concentrated and affluent consumer markets in the world. New Jersey offers a strategic location in the middle of Boston – New York City – Washington, D.C. corridor. The Northeast corridor has 56.5 million residents and $3.75 trillion in economic output. 

Northern New Jersey is a 20-minute light rail ride from New York City. Southern New Jersey is right across the Delaware River from Philadelphia. A business located in central New Jersey can serve more than 38 million consumers within a two-hour drive.

#4 Global Connections

New Jersey is also home to the Port of New York and New Jersey – the East Coast’s largest seaport. We make it easy to move products across the country or around the world. Newark Liberty International Airport and other nearby airports offer daily non-stop flights to over 340 domestic and 260 international destinations. 

New Jersey is open for international investment. Our State is home to 15 Fortune 500 companies, more than 1,100 multinational companies and 225 foreign company headquarters.

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#5 Strength in Diversity

Residing in New Jersey’s waters, the Statue of Liberty stands as a symbol of our immigrant past and present. New Jersey proudly boasts the third-largest population of foreign-born residents in the nation. Jersey City is ranked the #1 most culturally diverse U.S. city. Newark was recognized as the #1 largest U.S. city for integrating immigrants in 2018.

#6 Work, Live, Play + Raise a Family

From the beautiful Jersey Shore to thriving cities, the Garden State has the best quality of life. Our vibrant arts, sports, entertainment, foodie scene and state parks make New Jersey the best place to live. What’s more, New York City and Philadelphia’s top shows, restaurants and museums are only a short train ride away.

New Jersey is the ideal place for families. We are consistently ranked one of the safest and healthiest states in the country. That’s why New Jersey is the #1 state to raise children according to Save the Children organization.

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#7 More affordable real estate

New Jersey offers lab and office space 40-60% cheaper than our competitors. Class A office space in Jersey City or Hoboken is roughly half the cost of space in Manhattan—$45 per sq. Ft. Versus $79 per sq. ft. 

New Jersey has a significantly lower cost of living than New York City and Silicon Valley. We have readily available and more affordable housing options for employees and all the benefits of urban life.

#8 Support for startups and encouraging entrepreneurs

New Jersey is committed to support for young tech and life sciences companies and nurturing rapid growth. New Jersey is home to 70+ collaborative workspaces to incubate and accelerate next-gen innovations. We offer access to both wet and dry labs, technical assistance, funding and mentoring.

Startups can apply for free rent support in select coworking facilities through NJEDA’s NJ Ignite program. The Angel Investor program offers refundable tax credits for investing in a qualifying emerging technology business. NJEDA’s Founders and Funders event enables early-stage small businesses to meet with venture capital investors in “speed dating” sessions.

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#9 A history – and future – shaped by innovation

Disruptive innovation is a part of our DNA as New Jerseyans. New Jersey has a rich history of invention from Thomas Edison’s light bulb to cellular networks built by Bell Labs engineers. 

Immunotherapy was born here. The cure for hepatitis-C was found here. And tomorrow’s breakthrough discoveries are being developed right now.

Nokia Bell Labs, the industrial research division of Nokia, is revolutionizing drone, AI and 5G deployment. Amazon’s Audible recently converted a historic Newark church into an Innovation Cathedral for 400 tech employees. In 2019, companies with a New Jersey footprint represented 50 percent of all new FDA drug and therapy approvals.

#10 Business-friendly services

Choose New Jersey provides complimentary and confidential business assistance for companies looking to grow in New Jersey. We listen to you, help identify your needs and then we work with you to streamline the expansion or relocation process. 

We offer site selection services and can connect you to state government resources or economic development partners. We welcome companies big and small from around the world. Reach out to one of our business development officers today for a free consultation.

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Originally published on March, 10, 2020.