Let's Talk

Opt-in
This field is hidden when viewing the form
This field is hidden when viewing the form
This field is for validation purposes and should be left unchanged.

Financial Services

New Jersey has the strategic location, highly educated workforce, and affordable real estate financial companies need to succeed.

Download our Financial Services Guide

All the Access, Half the Cost

Within minutes from Wall Street, New Jersey offers the connectivity and resources of the world’s financial capital without the enormous costs. It’s no surprise that many of the world’s leading financial firms – including 12 of that state’s top 75 employers – choose to call New Jersey home.

Join the Best of the Best

With over 26,200 finance and professional services in New Jersey, the financial services and insurance sector in New Jersey is a major driving force of the State’s economy, contributing nearly $67 billion in GDP, according to the New Jersey Economic Development Authority (NJEDA).
The State’s appeal extends to the burgeoning fintech industry, housing more than 25% of the world’s top 100 fintech companies. Companies like BNY Mellon, Goldman Sachs, and JP Morgan Chase have recognized New Jersey’s advantages and relocated employees here to benefit from the State’s strategic position and robust infrastructure.

Supporting Success

Stevens Institute of Technology, in partnership with the NJEDA and Plug and Play, launched the New Jersey Fintech Accelerator at Stevens Institute of Technology (NJ FAST), a fintech accelerator, and the Center for Research toward Advancing Financial Technologies (CRAFT), the first fintech-focused Industry-University Cooperative Research center funded by the National Science Foundation. Programs like these are enhancing the State’s research and innovation capacities.

Connect with our Financial Services Expert

Our team offers a range of services and personalized guidance at every stage of establishing and expanding operations in New Jersey.

Let’s Talk
CNJ Website Expert AnastasiaBlasia

Anastasia Blasi

Business Development Officer

Let’s Talk

Success Stories

Fiserv

Fiserv, a Fortune 500 fintech company formerly headquartered in Wisconsin, moved to Berkeley Heights, New Jersey, in 2021, bringing 3,000 jobs to the State. Choose New Jersey worked in partnership with the New Jersey Economic Development Authority (NJEDA) and Governor Phil Murphy’s office and participated in early meetings with Fiserv to discuss a location decision plan. Choose New Jersey also created a fully customized pitch book which addressed the company’s specific needs. After a site visit, Fiserv was approved for an Emerge Program tax credit from the NJEDA.

View All

Success Stories

HAX

Princeton-based venture capital firm SOSV is establishing a new HAX accelerator and U.S. headquarters in Newark in June 2022. Startups in the program will create 2,500 new jobs in the decade ahead and attract millions in new capital. In June, Choose New Jersey and NJEDA responded to the RFI with a fully customized pitchbook. In July, we arranged a site tour and meetings with Governor Murphy and Audible Founder and Executive Chairman Don Katz. SOSV announced its decision to choose Newark in September. New Jersey committed $25 million to support HAX and SOSV will invest $25 million in 100 startups over the next five years.

View All

New Jersey’s Financial Services Industry Leaders

ADPBankOfAmerica 1
Barclays 1Basis
BCB Community BankBurgiss
Circle BlackCIT Group
Connect One BankIPC 1
CrossRiver 1Crum and Forester
Deloitte 1Dough Main
Drive WealthDunn & Bradstreet
Edison PartnersFin Pro
FiservFlex Wage Solutions
Floating Point GroupGoldman Sachs
InvestorsBank 1JP Morgan & Chase
KPMGNewark Venture Partners
PNCPrudential 2 1
QplumRadius
SaphyreScivantage
SOSVTD Bank
Valley National BankVolante Technologies
VoyagerWorld Insurance Associates
25%

of the world’s top 100 fintech companies have a presence in New Jersey

Source: Choose New Jersey research

Top 10

state for private equity

Source: American Investment Council

#4

state for internet coverage, speed, and availability

Source: BroadbandNow.com

Why Financial Services Thrive in New Jersey

Affordable Workspace

New Jersey’s proximity to Wall Street makes it an attractive location for financial services companies. Northeast New Jersey is located just 20 minutes from New York City, the financial capital of the world, via PATH commuter rail service or ferry. It takes less time to travel from Jersey City to Wall Street than it does from Midtown Manhattan. Despite its proximity, real estate in New Jersey is over 40% less expensive than in New York City.

Digital Infrastructure

New Jersey boasts one of the most extensive fiber optic networks in the world, supporting the financial industry’s high-speed communications needs. More than 99% of New Jersey companies can access wired broadband speeds of 100 mbps or faster – among the fastest in the United States.

New Jersey houses more than 70 data centers — one of the country’s highest concentrations. New Jersey is the #4 ranked state for internet coverage, speed, and availability, and our servers have become the lifeblood of Wall Street high-speed electronic trading.

CNJ Website Fnancial SubNav1 1
CNJ Website Fnancial SubNav2 1
CNJ Website Fnancial SubNav3 1

Access New Jersey’s Talented Workforce

New Jersey Labor & Workforce Report

Industry
Strengths

A highly-educated workforce and a strategic location just minutes from Wall Street have helped make New Jersey a top choice for financial services companies spanning fintech, cybersecurity, sports wagering, and more.

Fintech

+

Fintech

New Jersey boasts a strong presence in the global fintech industry. About 25% of the world’s top 100 companies in the sector call New Jersey home, including IPC, Cognizant, Indecomm, and NICE Actimize. Our universities ensure a steady talent pipeline. Stevens Institute of Technology offers the Center for Research Toward Advancing Financial Technologies (CRAFT), the first fintech-focused Industry University Cooperative Research Center funded by the National Science Foundation. New Jersey Institute of Technology is also preparing students for the evolving job landscape in fintech by offering a Bachelor of Science in Financial Technology.

Tech Accordion Fintech

Cybersecurity

+

Cybersecurity

New Jersey’s cybersecurity sector shines with top talent and tailored educational offerings. The New York/New Jersey region ranks #2 for cybersecurity analysts, showcasing its strong workforce. Institutions like Montclair State University and New Jersey Institute of Technology provide specialized programs such as Masters of Science in Cybersecurity, addressing industry demands. Additionally, New Jersey City University offers Bachelor of Science in Cybersecurity program, ensuring a steady stream of skilled professionals to meet cybersecurity challenges.

Tech Accordion Cybersecurity

Sports Wagering

+

Sports Wagering

New Jersey emerges is one of the premier destination for sports wagering in the United States. We were ranked the #1 market for sports betting in 2023, with a staggering $138 billion in wagers. About 80% of all sports betting in the State occurs through user-friendly sportsbook apps and websites, reflecting the State’s embrace of digital platforms like DraftKings Sportsbook and FanDuel.

New Jersey continues to grow as a leading location for sports betting operations with initiatives like the FinTech & Sports Wagering Innovation Center. Established by the NJEDA and New Jersey City University, this collaborative hub fosters growth in online gaming and financial technology, uniting stakeholders from companies, startups, academia, and government to propel the State’s leadership in this dynamic sector.

Tech Accordion Sports wagering

eSports

+

eSports

The eSports industry has grown rapidly in New Jersey. In 2022, the State ranked 8th in eSports earnings, with players earning roughly $3.5 million collectively in prize money annually. In 2021, New Jersey lawmakers passed a bill to include eSports in the State’s legal sports betting industry. This allowed licensed operators to accept bets on eSports up to $100, with a potential winning bet of up to $500.
Further supporting eSports, Stockton University opened the Esports Innovation Center in its Atlantic City Residential Complex, in partnership with the New Jersey Economic Development Authority. The Center’s goal is to promote and develop eSports in Atlantic City and South Jersey.

Tech Accordion esports

Incentives that Support Growth

The Emerge Program applies to qualifying projects that invest private capital into the state and create a minimum of 35 full-time jobs. It provides per-job tax credits ranging based on project location, bonuses, and the net benefit to the state. Tax credits may directly offset tax liability or may be transferred or surrendered for 85-90% of their value.  ​

Learn More

The New Jersey Angel Investor Tax Credit Program establishes tax credits against corporation business or gross income taxes based on qualified investment in New Jersey’s emerging technology businesses to stimulate investment. The credits apply to 20% of the qualified investment made in an NJ emerging technology business, with a potential increase to 25% if the business is certified M/WBE or located in an Opportunity Zone or New Market Tax Credit Census Track.

Learn More

The New Jersey Innovation Evergreen Fund Program facilitates private sector engagement to raise and invest capital in qualified New Jersey-based companies and promote strategic collaboration in the state’s innovation economy. Proposed Qualified Businesses may access up to $5,000,000 of program investment capital for equity investments, or $6,250,000 for State-certified women or minority businesses, New Jersey university spin-offs, or businesses that utilize intellectual property developed at a New Jersey university that is core to its business model.

Learn More

The Net Operating Loss (NOL) Program supports companies in New Jersey with a net operating loss carryover and/or R&D tax credits and have no positive net operating income for the last two years.

Learn More

Audible’s Newark Business Attraction Grant targets startups with at least ten employees who are at the seed or Series A stage and are looking to expand or relocate to Newark. Startups receive up to $250,000 in non-dilutive grants over two years for fit-out costs or rent/mortgage payments.

Learn More

The Workforce 55+ On-the-Job Experience (OJE) Program supports private, non-profit employers who offer eligible job seekers the opportunity to gain work experience and may do so at no cost. OJE participants’ salary is covered for four weeks by a federal grant, providing employers with an opportunity to observe and train the employee before making a permanent hire.

Learn More

The On-the-Job Training (OJT) Program is eligible to all New Jersey-based companies who hire full-time positions. Employers are reimbursed 50% of new employee’s wages for a period of up to 26 weeks in exchange for providing training in a specialized skill set.

Learn More

The Federal Bonding Program is a unique job placement tool that provides employers with insurance for hiring jobseekers who have poor credit histories, are recovering from substance abuse, are on public assistance, or are justice-involved.

Learn More

Upskill grants are block grants that are available to all New Jersey-based companies to help defray the cost of training of existing employees.

Learn More

The Opportunity Partnership for Business is available to all New Jersey-based businesses to support employers design the training program they need to fill a skills gap in their industry.

Learn More

The Registered Apprenticeship is an industry-driven training model that combines paid on-the-job learning with classroom instruction. The employer can develop training that aligns cohesively with their business needs.

Learn More

What’s Happening In New Jersey?

New Jersey Economic Mission Trip to the United Kingdom Daily Recap – November 10 & 11

PRESS RELEASE

Governor Murphy Announces MOU between New Jersey Economic Development Authority and Investment Association

PRESS RELEASE

New Jersey kicks off United Kingdom economic mission

PRESS RELEASE

New Jersey Economic Mission Trip to the United Kingdom Daily Recap – November 8

PRESS RELEASE

New Jersey Economic Mission Trip to the United Kingdom Daily Recap – November 7

PRESS RELEASE

Choose New Jersey Strengthens International Economic Ties While Advancing New Jersey’s Film and AI Industries in Successful Third Quarter

PRESS RELEASE

Murphy at FinTech Forum in Montreal: We must use technology/innovation to chart better path forward

PRESS RELEASE

New Jersey Economic Mission Trip to Canada Daily Recap – September 10

PRESS RELEASE

Governor Murphy, Stevens Institute of Technology, and Finance Montréal Sign MOU to Strengthen Quebec-New Jersey Fintech Connections

PRESS RELEASE

Murphy signs MOU with province of Ontario with innovation and development in mind

PRESS RELEASE

New Jersey: Ideal for Foreign Business Success

BLOG

NJEDA introduces NJ RISE to incentivize businesses to keep New Jersey residents’ income taxes in-state

PRESS RELEASE
View All

Let’s Get Started

Discover what New Jersey can do for you and your business. Fill out the form below to unlock a guide tailored to your industry.

+

Start typing and press enter to search

Scroll to Top