Choose New Jersey opens Israel office

Matthew Fazelpoor//March 22, 2023

Choose New Jersey opens Israel office

Matthew Fazelpoor//March 22, 2023

On March 21, Choose New Jersey announced the official opening of its new office in Tel Aviv, Israel.

The New Jersey Israel Center will be led by Peres & Associates Global Advisory, an established connector to the Israeli innovation ecosystem, with a goal of growing commercial, academic and cultural collaborations with Israel while supporting Israeli businesses looking to expand to the Garden State.

“I am thrilled to announce the opening of this center, which will undoubtedly deepen our economic relationship with Israel, its business leaders and its people,” said Wesley Matthews, president and CEO of Choose New Jersey. “As we seek to grow New Jersey’s innovation economy, Israel will be a critical global partner for the state. I can think of no better team to lead the day-to-day operations of the office than Peres & Associates.”

Choose New Jersey was awarded a grant via the New Jersey-Israel Commission to open the Israel office in hopes of attracting investment and business development leads for the Garden State.

The launch continues forward momentum between New Jersey and Israel under the Murphy Administration, which Gov. Phil Murphy described as the result of a special bond.

“Through numerous trade missions to Israel and continued engagement with Israeli businesses, universities, and government, we have strengthened our shared cultural and economic ties,” said Murphy. “New Jersey offers an incomparable suite of opportunities, and we are eager to support Israeli businesses looking to expand to the United States. The New Jersey Israel Center is another significant link connecting us that will allow for sustained economic growth and easier business between our states.”

Choose New Jersey noted that since the  Murphy Administration took office in 2018, foreign direct investment (FDI) between New Jersey and Israel has steadily climbed, with overall trade up $447 million. In 2022, year-over-year trade increased by 11%. And in 2021, New Jersey ranked second in the Northeast for Israeli investment, which created more than 1,400 jobs from new or expanding companies, including Teva, Bluevine, Kornit Digital and OwnBackup.

“The opening of this office is a natural next step for our state, as we continue to advance our position in the global economy,” said Karin Elkis, co-chair of the New Jersey-Israel Commission.

“With the opening of the New Jersey Israel Center today, New Jersey continues to expand its presence in key economies across the world, increasing trade and investment possibilities for our residents and businesses,” said Mark Levenson, Choose New Jersey board member. “The enhanced New Jersey-Israel partnership creates even greater opportunities for our citizens to achieve their economic and educational goals.”

Choose New Jersey also noted many of the corporate and academic partnerships that work toward those goals of forging bonds to create crossover economic activity between New Jersey and Israel.

Giles Gade, CEO and founder, Cross River Bank.

As an example of that success, they pointed to Fort Lee-based Cross River Bank, which has partnered with Choose New Jersey to strengthen ties between New Jersey and Israel through investments in the Israeli workforce, including a team of more than 180 developers in Jerusalem, and to cultivate a technology ecosystem to create those deeper connections and opportunities for startup businesses.

“Cross River has thrived in its home state of New Jersey and is committed to solidifying the bridge between New Jersey and Israel,” said Gilles Gade, founder, president and CEO of Cross River. “The opportunities the New Jersey Israel Center will bring to businesses will further propel strong, compliant, and responsible economic relationships on both sides of the ocean.”

“I look forward to working with the team to strengthen existing partnerships and create new ones to the benefit of both of our states,” Matthews added.