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State Resources


New Jersey Business Resources

Though New Jersey’s earliest roots were in agriculture, the state was among the earliest to industrialize. New Jersey is now home to several large industries and a particularly diverse economy. Chemical manufacturing, pharmaceuticals, fabricated metal manufacturing, food processing, and petroleum refining are among the largest industries. New Jersey’s pharmaceutical industry is one of the major engines of the state economy. Nearly half of the national total in drug-related R&D money is spent in New Jersey. The real estate, finance, and insurance industries lead the service sector of New Jersey’s economy and provide a large base of employment. The metropolitan areas of New York and Philadelphia cross into the state and provide a heavy concentration of jobs in a variety of industries. In addition, 130 miles of Atlantic coastline provide a popular tourist destination with quaint seaside towns and boardwalks.

Business Data

Per Capita Real GDP$44,885 Rank: 5/50 (2006)
Population8,414,350 Rank: 9/50 (2000)
Per Capita Personal Income$46,344 Rank: 2/50 (2006)
Unemployment Rate4.50% Rank: 24/50 (2008)
Business Tax Climate IndexRank: 49/50 (2008)
Corporate Tax Rate6.5% - 9.0%
Individual Tax Rate 1.4% - 8.97%
Sales Tax Rate 7%

Business Tax Climate Index

Individual Income Tax Index Rank49
Sales Tax Index Rank44
Unemployment Insurance Tax Index Rank24
Property Tax Index Rank49
Business Tax Climate Index49
Corporate Tax Index Rank41

State Information

AbbreviationNJ
CapitalTrenton
Nick NameGarden State
State Web Sitehttp://www.newjersey.gov
MottoLiberty and prosperity

Top 5 Export Partner Countries

Canada, United Kingdom, Japan, Mexico, Germany

Top 5 Export Merchandise

Computers and Electronic Products Sales Chemicals Sales Textile Mills Manufacturing Machinery Manufacturing Computers and Electronic Products Manufacturing

Major Cities

Jersey, Newark, Paterson

GDP

Total Gross Domestic Product (USD Millions) $465,484.00 (2007)
Per Capita Real GDP (USD)$45,052.00 Rank: 6 (2007)

Population Stats

Population 8,682,661 Rank: 11 (2008)

Age Distribution

Under 18 Population2,087,560
Under 18 Percent of Total Population25%
65 and older Population1,113,140
65 and older Percent of Total Population13%

Gender Distribution

Male Population48.5%
Female Population51.5%
Non-English Speaker (at home)1,635,000
Net International Immigration290,194
Birth Rate13.2%
Percent of People Under Poverty Level8.7%
Rank47

Expenditure

Per Capita State Spending$49,089
Rank17
Energy Expenditures per Person$4,153
Expenditures of State and Local Government Employee-Retirement Systems$5,752,404

Revenue

Personal Income$33,416
Rank2
State Internal Revenue Collection$121,678,423
Rank6
Cash and Deposits by State Government$355,740 (2005)
Per Capita State Tax Collection$3,032
Rank10

Education

High School Graduation Rate86.3%
Rank1
Percent of Population with a Bachelor's Degree21.2%
Rank3
Percent of Population with an Advanced Degree12.4%
Rank7

Largest Universities

Kean University Rutgers University, New Brunswick Montclair State University
High School Graduation Rate86.3%

Logistics

Public Road Length (Mile)38,561 (2005)
Gas Tax Rate (%)10.5%
Highway Planning and Construction (USD Thousands)848,554
Number of Public Airports46

Main Airports

EWR: Newark

Ports

Camden-Gloucester New York/New Jersey Paulsboro Trenton

Weather


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State Business Links

The Star-Ledger
http://www.nj.com

Secretary of State

New Jersey Secretary of State
http://www.state.nj.us/state/
Whether you are a new business start-up, a growing company considering expanding in the state, a large corporation about to move or expand, or an international exporter seeking to increase distribution, New Jersey has key advantages to help your business grow:

Small Business Administration

New Jersey Small Business Administration
http://www.sba.gov/localresources/district/nj/index.html
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same.

Top 10 Business Links

John J. Heldrich Center for Workforce Development
http://www.heldrich.rutgers.edu/
The center is a research division of Rutgers University that focuses on the workforce development. A few of the services it provides are evaluations of workforce education programs and software solutions. Its research spans several areas, such as economic analysis, workplace diversity, and dislocated workers.
New Jersey Business
http://www.njbmagazine.com/
New Jersey Business is a monthly periodical that features news and commentary about business in the Garden State. Articles are available for a fee, and its website has updates of daily news events.
New Jersey Business & Industry Association (NJBIA)
http://www.njbia.org/
The NJBIA is a business advocacy organization that represents businesses in New Jersey. NJBI runs several money-saving programs, provides business resources, and updates through its many publications. The association also hosts events that offer members networking opportunities.
New Jersey Economic Development Authority
http://www.njeda.com/web/default.aspx
The New Jersey Economic Development Authority is a state agency focused on economic and community development. Two of their notable initiatives are the Entrepreneurial Training Institute, and the Business Mentoring Program – both of which provide assistance and training to new businesses. Other services include financial aid, and technological facilities.
New Jersey Technology Council (NJTC)
http://www.njtc.org/
The council represents the technology sector in New Jersey, engaging in both advocacy and business support. Services they provide include financing assistance, executive development programs, and a career service network. The council also organizes events that encourage information sharing and networking opportunities.
NJ Business Portal: Taking Care of Business
http://www.state.nj.us/njbusiness/
Taking Care of Business is a state-run website that encourages and facilitates doing business in New Jersey. It contains information for start-ups, workforce training, as well as financial incentives. There is also a section dedicated to international trade, that offers assistance to both local and foreign companies that wish to establish themselves in or out of the state.
U.S. Export Assistance Center of Newark, NJ
http://www.buyusa.gov/nnj/
This branch of the Department of Commerce, serves Newark, New Jersey, and specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided.

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