Tag: Choose New Jersey

Choose New Jersey is out with its 2022 Annual Report, which highlights the nonprofit economic development organization’s efforts with Wes Matthews in his first year at the helm, and as the Garden State returns to pre-pandemic business routines.

Last year, Choose New Jersey assisted 43 companies in relocating or expanding to the state, resulting in 4,708 jobs and generating more than $3 billion in capital investments.

Since its founding in 2010, Choose New Jersey’s efforts have helped more than 360 companies, generating $8.6 billion in capital investments and creating and retaining  nearly 40,000 jobs in the state.

The organization also opened the New Jersey Ireland Center, making the Garden State the first with an economic development office in Ireland.

“We have the momentum, more than ever, to market the state as a premier destination for businesses to succeed,” said Matthews, president and CEO of Choose New Jersey. “We have returned to our pre-pandemic posture, welcoming delegations and companies from around the globe, and our team is back on the road doing what they do best. And we have a great story to tell: New Jersey is the geographical, intellectual, and cultural crossroad where businesses can thrive.”

The report states that Choose New Jersey strengthened global connections and highlighted the Garden State as a premier business destination by welcoming delegations from more than a dozen countries while participating in a number of trade shows that showcased the state’s key sectors, cultivated relationships and generated leads.

In Fiscal Year 2022, Choose New Jersey’s marketing campaign had 1.5 billion impressions. And just last quarter, it received a $10 million grant from the state to continue marketing the state.

“Choose New Jersey spent 2022 putting a global spotlight on our state and reconnecting with business leaders in New Jersey, the U.S., and all over the world,” said Ralph LaRossa, chairman of Choose New Jersey and president and CEO of PSEG. “Innovation and opportunity continue to thrive in this environment. The success of this past year is a testament to this organization’s efforts and the fact that New Jersey is the best place to establish and grow a business.”

Other highlights from the 2022 report include:

• The CEO Council becoming a permanent part of Choose New Jersey
• Netflix announcing its mega-production facility at Fort Monmouth
• The 2026 FIFA World Cup choosing the Meadowlands as a host venue
• Re-engagement with India, Choose New Jersey’s largest international market for business development, marked by a five-day, four-city mission in December

“Through Choose New Jersey’s focus on connections, our state’s 2022 successes include a nearly $1 billion Netflix production facility, a $126 million investment in Applegreen’s new headquarters in the state, and an exciting announcement that New Jersey will be a host venue for the FIFA World Cup,” said Gov. Phil Murphy. “I am thrilled by these great wins for New Jersey and look forward to continuing this momentum in 2023.”

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.

“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.”