Choose New Jersey partners with CEO Council

Matthew Fazelpoor//November 1, 2022

Choose New Jersey partners with CEO Council

Matthew Fazelpoor//November 1, 2022

Choose New Jersey announced the integration of the New Jersey CEO Council into its organization Oct. 31.

The economic development organization says the agreement will create a powerful partnership that strengthens Choose New Jersey’s mission.

At its quarterly board meeting last week in Newark, the board of directors approved the integration with five current CEO Council members joining the organization at the Ambassador level, including Becton Dickinson, Campbell Soup Co., Johnson & Johnson, Merck & Co., and Bristol Myers Squibb.

Those five companies join other CEO Council members: Verizon, PSEG, Prudential Financial, RWJBarnabas Health, Hackensack Meridian Health and American Water, who are existing Choose New Jersey board members.

“The integration of the New Jersey CEO Council into Choose New Jersey will bolster the organization’s effort to grow New Jersey’s economy, while leveraging the resources of additional major players in the New Jersey corporate community,” said Gov. Phil Murphy. “The CEO Council is a prime example of the public and private sectors working together to address structural inequality across the state. Its effort to provide employment opportunities for underserved communities, as well as support women and minority-owned businesses, reflects New Jersey’s value of fairness and equality.”

The CEO Council’s creation was announced in October 2020 as part of Murphy’s COVID-19 Restart and Recovery Commission with a mission to leverage the resources of some of New Jersey’s largest companies to aid communities hardest hit by the pandemic.

Ralph LaRossa, PSEG President and CEO

“Since its inception, Choose New Jersey has been committed to attracting businesses to New Jersey and growing its economy,” said Ralph LaRossa, chairman of Choose New Jersey and president and CEO of PSEG. “By adding the CEO Council and four new board members, Choose New Jersey is gaining valuable experience and influence from some of the state’s leading corporate citizens. I’m excited to continue the work PSEG has done with the CEO Council and to see how the mission of Choose New Jersey can be supplemented by the addition of these globally recognized brands.”

The day-to-day management of the CEO Council will be overseen by Phillip Loureiro, business development officer at Choose New Jersey.

The CEO Council touted its work over the past two years, including:

  • commitments to increase diversity in both hiring and procurement,
  • pledging to hire or train 30,000 New Jersey residents by 2030,
  • establishing and contributing to the first-ever publicly funded career impact bond program in the country, and
  • funding the Diverse Procurement Center of Excellence program to assist member companies in their procurement goals.

“I share the excitement of the governor and my fellow council members about the integration of the New Jersey CEO Council into Choose New Jersey,” said Charles Lowrey, chairman and CEO of Prudential Financial and co-chair of the CEO Council. “Both groups bring unique insights to the table that will advance our collective goal of generating economic mobility for New Jersey residents.”

At the board meeting, Choose New Jersey also touted its third quarter efforts, including assisting nine companies – eight of which are international – in relocating or expanding to New Jersey — resulting in 271 new and retained jobs and generating $89 million in economic impact.

“For more than a decade, Choose New Jersey has shown businesses domestically and abroad why New Jersey is the best state in the country to grow and expand,” said Wesley Matthews, president and CEO of Choose New Jersey. “I am excited to welcome the New Jersey CEO Council to our organization. The addition of these globally recognized business leaders to our already distinguished board will greatly enhance our ability to market the state and recruit businesses to New Jersey.”