Welcome to the
New New Jersey
We’ve put in the work to make New Jersey a better place to grow your business and raise your family. How? By boosting growing industries, creating facilities that support innovation, improving our infrastructure, and investing in families. Join us in the new New Jersey!
From Small Scale to Big Growth
Consistent Growth
New Jersey’s credit rating has been upgraded eight times in the past eight years by Moody’s Analytics, S&P, and Fitch. This consistent improvement demonstrates the state is a fiscally responsible and secure place for businesses. We are also #1 in the Northeast for job creation.
Thriving Local Businesses
New Jersey has added over 40,000 small businesses in the past decade. In fact, in 2018, the state had 258,000 small businesses in operation. By the end of 2024, New Jersey boasted 314,000 small businesses. We now have more small businesses in operation than we did before the pandemic.
Economic Momentum
New Jersey’s GDP grew by $108 billion in the past decade. Since 2014, our GDP growth ranking has also risen 17 places, indicating the state’s upward economic momentum.
From Small Scale to Big Growth
Film, TV, & Digital Media
The strength of New Jersey’s film sector is underscored by its attractive incentive programs, which include a 35% to 40% tax credit on goods and services for studio partners and a 4% bonus for hiring employees from underserved municipalities. These incentives and more have attracted industry leaders like Lionsgate and Netflix to build major production facilities in New Jersey, joining the state’s 70 existing production stages.
The state’s film industry has grown 10x since 2017, creating an estimated 8,500 jobs. Qualified production spending increased 37% year-over-year, from $592 million in 2023 to more than $800 million in 2024. The number of projects that received tax incentives from the state also jumped 37%, from 32 in 2023 to 44 in 2024, with more than 50 projects projected for 2025.
AI
New Jersey is the East Coast leader in AI innovation. Governor Phil Murphy established a task force that explores how AI can stimulate economic growth, create jobs, and enhance training and talent development. The New Jersey Economic Development Authority (NJEDA) also launched the New Jersey Next program, which provides tax credits to eligible businesses that build and foster the AI economy, especially large-scale AI data centers.
The NJ AI Hub opened in 2025 and brings together researchers, industry leaders, and startup companies to advance the use of ethical AI. Princeton University, Microsoft, CoreWeave, and NJEDA are founding partners. Together, they will invest over $72 million to support the Hub’s long-term success.
Our AI strengths are part of the state’s larger tech ecosystem. New Jersey boasts the biggest tech IPO since 2021 and is home to industry leaders such as WebMD, Samsung, Cognizant, Verizon, and Fiserv.
Sports and Entertainment
New Jersey’s sports and entertainment industries are major drivers of its economy and tourism. Our sports scene is so strong that MetLife Stadium was chosen to host the FIFA Men’s World Cup 26™ final, along with seven other games. The World Cup is projected to have a significant economic impact on New Jersey, with estimates reaching $3.3 billion for the region.
Eight games of the FIFA Club World Cup 2025™, including the final, were also held at MetLife Stadium. The Premier League has hosted games at Sports Illustrated Stadium in Harrison, New Jersey, in the past year, with more to come. And the Prudential Center in Newark and MetLife Stadium continue to be the venues of choice for many UFC and WWE fights, respectively. By hosting festivals and fan events, New Jersey has solidified its place as a global center for sports and entertainment.
Five major league sports teams call New Jersey home. Head to the Prudential Center in Newark and catch a New Jersey Devils hockey game; MetLife Stadium in East Rutherford for some New York Giants and Jets football; or Sports Illustrated Arena in Harrison to see soccer teams New York Red Bulls and NJ/NY Gotham FC score. The Philadelphia 76ers also have their headquarters and practice facility in Camden.
From Startups to Standouts
The state’s 12 Strategic Innovation Centers (SICs) support the growth of key sectors and pave the way for startup success. It’s no surprise New Jersey has seen record startup creation in recent years. SIC facilities, funded in part by the NJEDA, directly support research and development, innovation, and entrepreneurship, or aim to solve specific problems through a combination of mentorship, hands-on training, business support services, education opportunities, and access to manufacturing facilities. SICs are located in every corner of the state and focus on vast industries, from aerospace to biotechnology to maternal healthcare.
SICs take the form of accelerators, incubators, research centers, innovative service delivery centers, or multi-tenant innovation clusters. By bringing together public and private sector support with the resources of higher education institutions, SICs speed up innovation and entrepreneurship. New Jersey’s SICs include: the New Jersey Innovation Institute (NJII), New Jersey Fintech Accelerator at Stevens Institute of Technology (NJFAST), Scitech Scity, HAX, Nokia Bell Labs, Helix NJ, New Jersey Bioscience Center, NJ AI Hub, Coriell Institute for Medical Research, National Aerospace Research & Technology Park (NARTP).
From Connectivity to Competitiveness
From interconnected transportation networks to reliable utilities, our state is investing in infrastructure projects that pave the way for seamless connectivity. The Gateway Program, the largest infrastructure project in the United States, will deliver critical rail improvements between Newark and New York City, as well as create a new tunnel under the Hudson River and replace several bridges over the next several years.
New Jersey is home to:
- The Port of New York and New Jersey, the busiest seaport and the largest maritime cargo center on the East Coast of the United States.
- Newark Liberty International Airport, part of the busiest airport system in the world. It also boasts the newly upgraded Terminal A, which received a five-star rating from Skytrax and a Prix Versailles Special Prize for its exterior design.
- The highest railroad density in the United States, making delivery of goods and access to customers easy and efficient.
From Families to Flourishing Futures
New Jersey isn’t just a great state for business. It’s also a diverse, welcoming, and safe place to raise your family. Improving our communities and quality of life has been a major focus for state leaders.
Our state is synonymous with fantastic public schools. We boast the #1 public school system and the #1 STEM high school in the United States, according to U.S. News & World Report, providing your children with a launchpad for success.
There’s so much to do and see among our gorgeous beaches, picturesque mountains, preserved Pinelands, and sprawling farms. Whether you enjoy rural, suburban, or urban life, you’ll find a comfortable home in New Jersey.
New Jersey is also lauded for its safety. In 2024, the number of shooting victims was the lowest it has been in at least 15 years. This was achieved through a holistic approach to crime reduction, including tightening gun laws and investing in mental health. The state has also dedicated millions of dollars toward addressing the opioid crisis.
New Jersey families have benefited from the increased funding for women’s health and family planning services to over $50 million, expanded paid family leave policies, and the foundation of the New Jersey Maternal and Infant Health Innovation Authority, which focuses on reducing maternal mortality and disparity.
We’re also proud to have the second-highest concentration of foreign-born residents and the most diverse city (Jersey City) in the United States. New Jersey offers families the peace of mind that comes with living in safe, friendly communities. MoneyRates.com named the state the best to raise a child, and WalletHub ranked New Jersey as the safest state to live in the United States.
