Choose New Jersey Announces Record Job Growth in 2021

Orgnization’s efforts resulted in 7,629 new and retained jobs and generated $1.6B in capital investment

On Feb 24, 2022

Nearly two years into the COVID-19 pandemic, the global economy continues to face challenges, yet Choose New Jersey’s efforts resulted in significant progress in 2021, assisting 32 companies in relocating or expanding to New Jersey, resulting in 7,629 new and retained jobs and generating $1.6B in capital investment.

“It is remarkable how much Choose New Jersey has achieved during the second year of a global pandemic,” said Ralph LaRossa, chairman of Choose New Jersey and chief operating officer of Public Service Enterprise Group (PSEG). “Not only did the team have a record year for job creation, but we were also able to raise the state’s presence internationally. Choose New Jersey facilitated several high-profile global business attraction projects demonstrating the advantages of New Jersey.”

For every dollar contributed to Choose New Jersey in 2021, the organization invested nearly $450 back into New Jersey’s economy. Approaching the 11th year of the organization’s founding, Choose New Jersey has assisted a total of 335 companies resulting in nearly 39,000 new and retained jobs and generating $7.7B in capital investment.

The report highlights Choose New Jersey’s many noteworthy accomplishments over the past year, including:

• Choose New Jersey concluded a fourth consecutive trip to Israel in November 2021, further strengthening long-standing ties between New Jersey and Israel. New Jersey was the last state to send a delegation to Israel before the global shutdown in March 2020 and was the first state to return in 2021. Rutgers University and Tel Aviv University (TAU) signed a memorandum of understanding (MOU) to form the Collaborative Research Grant program and for TAU to have a presence at The Hub in New Brunswick. In addition, NJCU and Ashdod Port Company also signed a letter of intent to collaborate on projects that will advance innovation, economic development, and international education.
• Choose New Jersey welcomed the FIFA committee for the New York/New Jersey host city bid for the 2026 FIFA World Cup™ tournament, successfully positioning the region as a top contender.
• Fiserv, a Fortune 500 fintech company, is expanding its New Jersey footprint with a Berkeley Heights office employing 3,000 technology workers.
• Princeton-based global venture capital (VC) firm SOSV chose Newark to be the home of the new HAX headquarters and accelerator. After a competitive search, SOSV chose Newark as the best place to support the growth of hard tech startups.
• Choose New Jersey was awarded another $5 million grant allocation from the State of New Jersey to continue its international State of Innovation business attraction marketing campaign.

Earlier this month, Choose New Jersey welcomed Wesley Mathews as the new president and CEO of the organization. A career diplomat, Mathews succeeds Jose Lozano, who served as president and CEO of the organization since June 2018.

“New Jersey is a major global contender for companies to expand and grow their business thanks to the leadership of Choose New Jersey,” said Wesley Mathews, president and CEO of Choose New Jersey. “Choose New Jersey has been extremely successful in planting the flag abroad and working closely with global partners. I look forward to building upon this progress by expanding the organization’s international and domestic reach, exploring opportunities in new markets.”

“We are extremely proud of Choose New Jersey’s work to create jobs and attract investment to our State,” said Jose Lozano who served as president and CEO of Choose New Jersey from June 2018 until January 2021. “It has been an honor to serve as president and CEO of this vital organization, and I will continue to support Choose New Jersey’s efforts to advocate for New Jersey as the best place to live, work and do business.”

In 2021, Choose New Jersey deepened its focus on attracting international companies to relocate or expand in New Jersey. Despite COVID-19 travel restrictions, Choose New Jersey was able to grow its international business pipeline and hit targets within strategic regions across the globe.

“From impressive job growth to the increased interest from businesses around the world, it’s clear Choose New Jersey is setting our state on a strong path,” said Mitch Livingston, Choose New Jersey business development chair and president & CEO of NJM Insurance Company. “The future looks promising for the organization, as Wesley Mathew’s extensive foreign service experience will surely be invaluable in growing the international pipeline.”

“Choose New Jersey has done a tremendous job marketing the State of New Jersey through the COVID-19 crisis,” said Dan Lynch, Choose New Jersey Marketing Committee Chair and Vice President, Corporate Partnerships at the New York Giants. “The State of Innovation campaign has delivered real results from the last three grants, and you can see through the numbers that the team has continued to build and expand on their success.”

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