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New Jersey, also known as the Garden State, CURRENT POPULATION is in a desirable location between key metropolitan markets, including New York 8.7 Million JERSEY City and Philadelphia. Large and small business alike can take advantage of NJ’s strategic access to local 4.5% Increase from 2009 NEW and global financial markets, highly trained workforce, state-of-the-art transportation, FORTUNE 500 COMPANIES energy and communications infrastructure. HEADQUARTERED IN NEW JERSEYNEW JERSEY MOTTOLiberty & Prosperity 21 STATE GDPLAND AREA SQUARE MILES7,417 $487 BillionPERSONS PER SQUARE MILE 3.3% Increase from 20091,185 GPD PER CAPITANew Jersey is home to more than 9,800 farmscovering 790,000 acres of farmland. $55,398COUNTIES21 2.4% Increase from 2009MUNICIPALITIES HISTORY566 1776: Declaration of Independence 1789: 1st state to ratify the Bill of Rights 1790: Trenton selected as state capitalLARGEST MUNICIPALITIES 1833: 1st Railroad service Camden, Amboy Line 1837: 1st locomotive in state builtNewark 278,154 1870: 1st Boardwalk in Atlantic City completedJersey City 247,597Paterson 146,199 1877: Edison invented 1st phonographElizabeth 124,969 1879: Edison invented incandescent lampEdison 99,967 1889: Central Railroad of NJ Terminal builtWoodbridge 99,585Lakewood 92,843 1908: 1st route of Hudson & Manhattan tubes (now PATH) opened under HudsonToms River 91,239 1927: Holland Tunnel opened as 1st mechanically ventilated underwater tunnelHamilton 88,464 1928: Newark Airport is openedTrenton 84,913 1951: Opening of first 53 miles of NJ Turnpike 1955: Opening of Garden State ParkwayTAXES 1961: 1st enclosed mall on east coast Corporate Income Tax = 9% 1978: Nations 1st legal casino outside NV (Phasing in Single Sales Factor) Personal Income Tax = 8.97% (max) 2000: Hudson-Bergen Light Rail service began Sales Tax = 7% 2005: 1st state to award public funding for stem-cell research Property Tax = $2,372 per capita www.choosenj.com/newjersey
LABOR FORCE & EMPLOYMENTLABOR FORCE & EMPLOYMENTCURRENT CIVILIAN LABOR FORCE UNEMPLOYMENT RATE4,497,800 9.8%TOTAL EMPLOYED PER CAPITA PERSONAL INCOME4,069,200 $50,781 FORTUNE 500 COMPANIES HEADQUARTERED IN NEW JERSEY State Company Industry Revenues Rank ($ millions) 1 Medco Health Solutions Prescription Benefits 70,063 2 Johnson & Johnson Pharmaceuticals 65,030 3 Prudential Financial Financial Services Mgt. 49,045 ETHNICITY/DIVERSITY 4 Merck Pharmaceuticals 48,047 69% 5 Honeywell International Industrial Conglomerate 37,059 6 Toys "R" Us Toys & Games Retail 13,909 7 Chubb Fire/Casualty Insurance 13,585 8 Public Service Enterprise Group Electric Power Distribution 11,191 9 Automatic Data Processing Payroll Services 9,879 18% 10 NRG Energy Power Production 9,079 14% 8% 6% Hispanic / 11 Bed Bath & Beyond Home Furnishings 8,758 White Latino 12 Hertz Global Holdings Car Rental 8,298 Other Black Asian 13 Great Atlantic & Pacific Tea Grocery Retail 8,078 14 Becton Dickinson Medical Equipment 7,832 15 Campbell Soup Food & Beverages 7,719 16 Quest Diagnostics Medical Laboratories 7,510 17 Cognizant Technology Solutions Computer Programming 6,121 AGE MEDIAN AGE 18 Avis Budget Group Car Rental 5,900 19 Sealed Air Container Manufacturing 5,640 39 32% 20 Avaya Communications, Internet 5,547 21 Celgene Pharmaceuticals 4,842 27% 27% FASTEST GROWING EMPLOYERS (FROM 2008-2010) Rank Industry % Employment change 13% Under 25 1 Motion Picture and Sound Recording 15% 45-64 25-44 2 Non-store Retailers 12% 65+ 3 Ambulatory Health Care Services 5% 4 Food Services & Beverage Businesses 5% 5 Electronics and Appliance Stores 5% EDUCATION ATTAINMENT LARGEST EMPLOYMENT SECTORS (TOP 5) Rank Sector NJ U.S. 1 Education & Healthcare Services 23% 19% 13 13 2 Trade, Transportation & Utilities 21% 14% 3 Professional & Business Services 15% 13% 4 Leisure & Hospitality 9% 10% 21 5 Manufacturing 7% 10% 30 LARGEST OCCUPATIONS (TOP 5) Rank Occupation NJ U.S. 23 1 Office & Admin Support 17% 16% 2 Sales & Related 11% 11% 3 Education, Training & Library 7% 6% Less than H.S. 4 Yrs of College 4 Transportation and Material Moving 7% 7% H.S. Diploma > 4 Yrs of College 5 Food Prep & Serving Related 6% 8% Some College www.choosenj.com/newjersey
TRANSPORTATION & MOBILITY TRANSPORTATION/MOBILTY New Jerseys economic might is connected to its vast AIR: NJ’s robust air transportation RAIL/BUS: NJ has the highest transportation infrastructure that includes a comprehensive offers businesses quick and density of railroads in the distribution network of world-class seaports and airports. convenient connections to national nation. and international markets. MILES OF INTERSTATES & HIGHWAYS AVG. COMMUTE TIME Newark International Airport is 247 Bus Routes (statewide) the 14th-busiest in U.S. (37th- 11 Commuter Rail 38,000 30 (MINS) busiest worldwide); handled 34 million passengers and 812,000 Lines (statewide) ACCESS TO CUSTOMERS (MILLIONS) CARPOOL tons of cargo in 2011. 3 Light Rail Lines (statewide) 100 Within one day drive 9.4% Philadelphia International Airport PORTS: NJ’s port facilities provide is the 11th-busiest in the U.S.; companies in New Jersey prime handled 30.8 million passengers access to international markets. USE PUBLIC TRANSIT and 458,000 tons of air mail and KEY ROADS Garden State Parkway, NJ Turnpike, AC Expressway, 10.8% cargo in 2011. Port of NY/NJ is the busiest port on the East Coast; 3rd-busiest port in U.S.; handled 5.3 million loaded Palisades Interstate Parkway and unloaded 20 ft equiv units; Interstates value of cargo that moved 76, 78, 80, 95, 195, 278, 280, 2 through port exceeds $190 billion. 87, 295 and 676. QUALITY OF LIFE 5 Montville, South Brunswick, Ridgewood, Madison, and Hillsborough are listed on CNNMoney.com’s “Best Places to Live #7 Forbes magazine’s “Best States for Business” – Quality of Life indicator, #5 Highest Average Wages Business Facilities magazine, 2011 in 2011” November 2011 ARTS & CULTURE SPORTS: New Jersey Performing Arts Center (NJPAC) showcases Major sport franchises including the Giants, Jets, and NJ Devils call performers, symphonies, dance troupes and theater, NJ Home. Giants and Jets play their home games in the $1.6 billion including New Jersey State Opera and New Jersey Symphony New Meadowlands Stadium in East Rutherford. Orchestra. The New York Red Bulls of Major League Soccer play in Red Bull Newark Museum includes permanent collections of African, Arena, a soccer-specific stadium located in Harrison outside of American, Asian and classical works. downtown Newark. Zimmerli Art Museum is the 3rd largest university art The National Hockey Leagues New Jersey Devils play at the collection in the world. Prudential Center. Princeton University’s performance hall hosts 200+ events a Major college sports include the Scarlet Knights of Rutgers, the year, including the renowned Westminster Choir. Seton Hall Pirates, and the Princeton Tigers. FAMILY AND ACTIVITIES GAMING: The Adventure Aquarium (Camden) features a suspended Atlantic Citys seaside resorts, shops, restaurants and gaming 40-foot walk-through tunnel. attractions draw 33 million visitors annually. Top-ranked beaches along 130 miles of coastline and beach More than $1.7 billion has recently been invested into Atlantic City, communities including Ocean Grove, Point Pleasant Beach, benefiting casinos, non-gaming resorts and other hotels, major Wildwood and Cape May. restaurants, top-flight golf, unique attractions, and retail businesses. www.choosenj.com/newjersey
EDUCATION & COST OF DOING BUSINESSEDUCATIONElite research universities and an environment that is welcoming to business. #1 State for high school graduation Education Week “Diplomas #4 State for education CNBC’s “Top States for Top 4 Improving opportunities Count 2011” Business 2012” for students to succeedNJ’S SECONDARY SCHOOLS• There are 74 NJ high schools on Newsweeks 2012 Americas Best High Schools list. Education Weeks 2010 Quality Counts report card from the Editorial Projects in Education Research Asian Center ranked NJ’s public schools seventh in the nation. NJ ranks among the top five states in both fourth-grade and eighth-grade math scores. And the ratio of pupils to teachers in New Jerseys public schools is 12.7 to 1, which is significantly lower than the national average of 16 to 1.NJ’S POST SECONDARY More than 440,000 students are enrolled in one of NJ’s 64 public and private colleges and universities. SELECT INSTITUTES OF HIGHER EDUCATION (4 YR) ENROLLMENT Institute (County) Under Graduate graduate Rutgers University (Middlesex) 29,095 8,271 Montclair State University (Essex) 14,139 4,032 Rowan University (Gloucester) 9,665 1,341 College of New Jersey (Mercer) 6,237 742 NJ Institute of Technology (Essex) 5,924 2,916 Seton Hall (Essex) 5,213 4,403 Princeton University (Mercer) 5,113 2,479 Rider University (Mercer) 4,856 1,180 Stevens Institute of Tech (Hudson) 2,262 3,495 Drew University (Morris) 1,739 928COST OF DOING BUSINESS 2011 WAGES UTILITY COSTS Occupation NJ Type of Utility Cost/Available Providers Rank Business & Financial Operation $74,470 Gas $2.63 2nd lowest Construction and Extraction $56,400 Electric 14.8 cents /Deregulated 7th highest Food Prep & Serving Related $23,650 Telecom Varies by location NA Waste/Sewer Varies by location NA Healthcare Practitioners $83,800 Healthcare Support $28,450 Management $131,770 Office & Admin. Support $36,810 KEY RESOURCES & CONTACTS Production $35,630 TRACYE MCDANIEL | PRESIDENT AND CHIEF EXECUTIVE OFFICER Protective Services $54,750 MICHAEL CHROBAK | CHIEF ECONOMIC DEVELOPMENT OFFICER Sales & Related $43,760 Transportation and Material Moving $33,100 EconDev@choosenj.com 609-297-2200 SPACE AVAILABILITY www.ChooseNJ.com Type Square Feet (SF) Occupancy Costs SOURCES: NJ Department of Labor & US Bureau of Labor Statistics; American Industrial 130,642,000 SF $4.87/SF Community Survey, 2005-2009 Estimates,; NJ State Police & FBI, Uniform Crime Report; NJ Monthly Magazine, 2010; NJ State Department of Education, Spring 2010; Office 72,772,000 SF $22.50/SF Board of Public Utilities; Tax Foundation; Infoplease.com; Travelmath; CoStar; Hoovers; Institute for Energy Research; Data current as of May 2012; www.choosenj.com/newjersey