#47 New Jersey

2.76 out of 10 in Taxation and Regulation

5.43 out of 10 in Workforce Quality

4.98 out of 10 in Living Environment

Right to Work?

State Profile

The New Jersey Economic Development Authority partners with nearly two dozen banks in the state to offers loans with up to a $2M EDA loan participation or $1.5M loan guarantee for fixed assets, up to a $750,000 loan participation or $1.5M loan guarantee for term working capital, and up to a $750,000 line of credit guarantee. Businesses must typically commit to creating a minimum number of jobs within two years, generally one job per $65,000 of EDA exposure.

Key Industries

Biotech, Clean Energy, Manufacturing

Key Companies

Campbell Soup
Chubb & Sons
Honeywell International
Johnson & Johnson
Lucent Technologies
Medco Health Solutions
Merck & Co.
Prudential Financial
Quest Diagnostics

Key Contacts

Economic Development Authority

Michele Brown, President & Chief Executive Officer
201 Rockingham Row
Princeton, NJ

CEO Comments

“New Jersey has high taxes, eroding infrastructure, the workforce works in New York City, government favors gambling organizations, budget is spent on governor ads for the state and his campaigns as well as his legal fees. Healthcare suffers. Public education suffers. Technology is behind most states.”

“Connecticut, New York and New Jersey: if you do not get your finances in order, you will have no business here. You are driving everyone out and do nothing to combat the problems. Every year your budget gets further and further in the red.”

Current Developments

2017 Regional Report: Northeast


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