New Jersey Q&A: Grow In The Garden State

Choose New Jersey President & CEO Wesley Mathews describes how the Garden State's strategic location and diverse population offers what business needs to thrive.

In August 2022,  launched the New Jersey Pay It Forward Program, an innovative initiative that provides zero-interest, no-fee loans to support low-income New Jersey job seekers participating in approved training programs. New Jersey is the first state in the country to dedicate public resources to a fund of this kind. The program is a direct result of the state’s commitment to train and hire thousands of New Jersey residents from underrepresented communities of color and other underserved communities by 2030.

Another sector seeing explosive growth is the film and digital media sector. The state offers competitive film and digital media tax credits for productions that shoot in New Jersey.

BF: What does the future hold? What else should readers know about New Jersey? What should they know about what Choose New Jersey offers?

WM: Since 2010, Choose New Jersey, the state’s leading nonprofit economic development organization, has helped almost 350 companies, resulting in $7.7 billion in capital investment.

We have also helped to create and retain nearly 39,000 jobs. From startups to multinationals, Choose New Jersey has supported companies in diverse industries from all over the world, and we will continue to do so.

We are one of the fastest growing hubs for logistics and distribution. In 2020, foreign investors announced 32 projects in New Jersey which were estimated to be $1.5 billion in capital expenditures (a total of 2,120 jobs). Choose New Jersey is focused on strengthening the state’s key industries and positioning New Jersey as an innovation hub.

We are also laser-focused on accelerating growth in technology, with Newark taking a lead as one of New Jersey’s emergent tech epicenters. Renewable energy is a very important sector for the state and we have set ambitious goals that will make New Jersey one of the country’s leaders in offshore wind, solar, and other renewable energy technologies.

New Jersey

L’Oréal Invests $140M In NJ Research & Innovation Center

Historic L’Oréal R&I Center will be located in Clark, NJ. Meanwhile, NJEDA has launched a $3.7 million grant program to develop skills for the offshore wind industry. 

The state will continue to be an attractive place to relocate or expand as it continuously improves infrastructure. The Newark Liberty International Airport Terminal Redevelopment Program reflects the airport’s commitment to providing the best experience possible for our air travel passengers, while effectively meeting increasing and evolving air travel demands. Construction of the new Portal Bridge, which shepherds trains over the Hackensack River between Kearny and Secaucus, is underway. This is expected to double rail capacity between Newark and New York, and work on the Hudson River tunnels is slated to start in 2023.

Considering New Jersey for your company’s relocation or expansion project? Check out all the latest news related to New Jersey economic development, corporate relocation, corporate expansion and site selection.