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Nj profile rev 9
1. 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 JERSEY
NEW JERSEY MOTTO
Liberty & Prosperity 21
STATE GDP
LAND AREA SQUARE MILES
7,417 $487 Billion
PERSONS PER SQUARE MILE
3.3% Increase
from 2009
1,185 GPD PER CAPITA
New Jersey is home to more than 9,800 farms
covering 790,000 acres of farmland. $55,398
COUNTIES
21 2.4% Increase
from 2009
MUNICIPALITIES
HISTORY
566 1776: Declaration of Independence
1789: 1st state to ratify the Bill of Rights
1790: Trenton selected as state capital
LARGEST MUNICIPALITIES 1833: 1st Railroad service Camden, Amboy Line
1837: 1st locomotive in state built
Newark 278,154 1870: 1st Boardwalk in Atlantic City completed
Jersey City 247,597
Paterson 146,199 1877: Edison invented 1st phonograph
Elizabeth 124,969 1879: Edison invented incandescent lamp
Edison 99,967 1889: Central Railroad of NJ Terminal built
Woodbridge 99,585
Lakewood 92,843 1908: 1st route of Hudson & Manhattan tubes (now PATH) opened under Hudson
Toms River 91,239 1927: Holland Tunnel opened as 1st mechanically ventilated underwater tunnel
Hamilton 88,464 1928: Newark Airport is opened
Trenton 84,913
1951: Opening of first 53 miles of NJ Turnpike
1955: Opening of Garden State Parkway
TAXES 1961: 1st enclosed mall on east coast
Corporate Income Tax = 9%
1978: Nation's 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
2. LABOR FORCE & EMPLOYMENT
LABOR FORCE & EMPLOYMENT
CURRENT CIVILIAN LABOR FORCE UNEMPLOYMENT RATE
4,497,800 9.8%
TOTAL EMPLOYED PER CAPITA PERSONAL INCOME
4,069,200 $50,781
FORTUNE 500 COMPANIES HEADQUARTERED IN NEW JERSEY
State Company Industry Revenues
Rank ($ 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
3. TRANSPORTATION & MOBILITY TRANSPORTATION/MOBILTY
New Jersey's 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 League's 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 City's 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
4. EDUCATION & COST OF DOING BUSINESS
EDUCATION
Elite 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 succeed
NJ’S SECONDARY SCHOOLS
• There are 74 NJ high schools on Newsweek's 2012 America's
Best High Schools list. Education Week's 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 Jersey's 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) 1,739 928
COST 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