Murphy touts New Jersey’s innovation economy

Gov. Phil Murphy on Monday touted New Jersey as a growing center for business innovation, thanks to its educated labor pools and a concentration of aspiring entrepreneurs.Speaking at the 2018 Economic Policy Forum’s “A Tale of Tech Cities: Innovation and Urban Revitalization,” Murphy said positive elements in place include tax incentives, a 39 percent college-educated workforce, innovation hubs and university research centers.

“Newark is proving that social progress cannot be made without economic progress,” he said. “New Jersey is built to lead the innovation economy. We were Silicon Valley before there was Silicon Valley. … The real beauty is it does not have to only be a Newark story.”

Hosted by the New Jersey Business & Industry Association and audio-entertainment provider Audible, the forum took place at the New Jersey Performing Arts Center.

Murphy said Newark’s being among cities in consideration for Amazon’s second headquarters shows it is “absolutely purposefully built” for innovation companies.  

Newark Community Economic Development Corp. CEO Aisha Glover said government is focused on growing technology companies for good reason.

“The sector supporting job creation is a pathway to the middle class,” Glover said. “We help spark innovation. … We are only going to retain talent if the city is attractive to millennials.”

New Jersey’s advanced-manufacturing jobs pay 60 percent higher than service-sector jobs for lower-educated employees, Glover said.