|
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| "Why should a business invest
in New Jersey?" New Jersey state economic
development professionals who are responsible for the attraction of business
investment projects and providing site selection assistance to executives
and their consultants were invited in April 2006 to provide an informative
article on this simple topic.
We publish their
point of view here for convenient reference. This reflects their local
market knowledge, project experience, and selective facts about their state business environment
and the competitive business investment climate in their region as presented below.
Additional comments and
research suggestions follow their article.
|
Who to contact for business investment projects in
New Jersey. The
article below about the competitive site selection advantages for business
investment projects, and the support services provided as companies grow in
New Jersey, is from :
Caren S.
Franzini, Chief Executive Officer - see
alternate contacts below
New Jersey
Economic Development Authority
(609)292-1800
njeda@njeda.com
www.njeda.com
New Jersey : NJEDA
News
for project announcements or other PR
or
www.newjerseycommerce.org NJ Commerce
News
New Jersey : Buildings and sites - for commercial real estate searches
|
| Local business clusters can also be researched through
our New Jersey directory of economic development agencies or other
directories, including
site selection
consultants. |
Similar articles
are also available from other state economic development agencies.
See :
The Long List : Why Invest In This
Business Location? and
www.OnTheShortList.com |
| Please
contact us for assistance with business expansion project plans
anywhere. Global Direct Investment Solutions is an independent service
for executives and their advisors.
Tell us what you need to find for your project, and we
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welcome
comments and suggestions to improve such articles and our research work.
Relevant reciprocal
links to this article or other content on this website are welcome.
The GUIDE content below reflects our own research work among
local areas in the state. |
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|
state economic development logo, banner,
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Ad Recall : fDi magazine |
|
Executive Summary : Why invest in
New Jersey?
Download
WhyNJ.pdf copy of
this article. Published May 24, 2006. |
GUIDE content : GDI-Solutions |
|
New Jersey
Economic Development Authority
Helps
Businesses Grow and Succeed in New Jersey
With a strategic Mid-Atlantic
location between New York and Philadelphia that provides easy access to
major financial markets and transportation networks and a highly skilled
labor pool, New Jersey is the place to be for businesses ranging from
Fortune 500 companies to entrepreneurial startups.
The state makes available a wide
array of resources to help businesses succeed and grow in New Jersey, many
of which are offered by the New Jersey Economic Development Authority (EDA). |
Area
Reports : Field Research
- none at this
time
Area
Profiles : Basic Research
- none at this
time
Area
Surveys : Local Summary
- none at this
time |
|
The EDA is an independent,
self-supporting state financing and development agency that works to broaden
New Jersey’s economic base by building vibrant, diverse communities,
creating and maintaining jobs and providing businesses and nonprofits with
the financial and technical support they need to be successful. It does
this in three main ways:
(1) with financing assistance,
including low-interest loans, loan guarantees, venture capital and business
incentives;
(2) with technical assistance,
including training for new and aspiring business owners provided through the
Entrepreneurial Training Institute and Business Mentoring Program; and
(3) with real estate development
assistance and modern technology facilities, including the Technology Centre
of New Jersey in North Brunswick and the Waterfront Technology Center at
Camden.
The EDA is focused on several key
business sectors critical to the state’s economy. They are: biotechnology
and the life sciences; manufacturing; logistics, including warehousing,
distribution and port operations; financial services; and tourism, arts and
culture. |
Consultants, other professionals
-
business location
consultants
- other directories of
professionals
Available
consultant reports
- none at this
time
Ad Recall -
state and local ads
- New Jersey Ad
Recall
Event
Recall - places to meet
-
BIO 2007, Boston
www.bio.org
-
CoreNet Global Summits - US
|
| Since 1974,
the EDA has arranged for nearly $17 billion in financing assistance that has
supported total investment of $26 billion in New Jersey’s economy and the
creation of more than 200,000 full-time jobs. If you own a business in New
Jersey that is seeking to acquire or renovate a building or purchase
equipment to enhance your growth and competitiveness, or if you need money
for operating costs, it makes sense to look into the various programs the
EDA has to offer. The EDA is also a driving force in
encouraging community investments and smart-growth redevelopment. It
provides a broad range of low-cost financing assistance for various stages
of the redevelopment process covering planning and predevelopment,
infrastructure development, investigation and remediation of brownfield
sites and building acquisition, construction and renovations.
So, whether you are a developer looking to build on a
previously developed or contaminated site, a business ready to expand across
the street or across the state, or a municipality wanting to redevelop
underutilized properties, the EDA has the resources to assist. |
Tax information
-
Governor
- see US directory
www.state.nj.us/governor/
www.state.nj.us
Business
Incentives
- New Jersey
incentives info
-
incentives
consultants
- Incentives
research sources
|
|
Major EDA
Initiatives
-
Techniuum – To enhance
New Jersey’s reputation as a leader in innovation and invention, the state
must continue to encourage the success of technology and the life
sciences. Techniuum is a comprehensive EDA effort to provide the kind of
broad-based assistance to support the evolution of these businesses and
grow New Jersey’s economy.
Techniuum provides a continuum of
customized, streamlined, long-term support as these businesses advance
through their life cycle of growth. Through Techniuum, the EDA can assist
with (1) technical support and mentoring services; (2) financing and
incentive tools; and (3) real estate expertise and modern facilities.
Techniuum solidifies New Jersey’s support for developing technologies and
industries that bring new economic opportunities and jobs to the state.
Early-stage and established
technology and life sciences businesses are encouraged to visit
www.njedatechniuum.com to learn about all that the EDA and the State of
New Jersey have to offer. Website visitors can find information about how
to start and grow a company, how to secure funding and find a suitable
location for their business in New Jersey, and how to tap the various
resources offered throughout the state to advance the growth and success of
technology and life sciences companies. There are sections featuring
frequently asked questions about EDA investment criteria, industry news and
events, and how to apply for assistance.
- Assistance
for Manufacturers – The EDA focuses much of its energies on
initiatives that support specific sectors of the economy. Nearly half of
the more than 100 businesses benefiting from EDA financing and incentives
in 2005, for example, were manufacturers. These businesses were able to
acquire, construct and renovate buildings, upgrade equipment to enhance
production capabilities and competitiveness, and meet working capital
needs to support operational costs – all with EDA funding.
Manufacturing companies throughout the state looking to
purchase new equipment or acquire new production facilities can take
advantage of $100 million in low-interest, tax-exempt bond financing that is
available to them in 2006 through the EDA. In the last five years alone,
123 manufacturers have shared more than $325 million in EDA bond financing
dollars to grow their businesses. With lower interest rates and longer terms
than are generally available from other sources, EDA bond financing can be
an affordable and effective tool to support the growth needs of qualifying
New Jersey manufacturers. Tax-exempt bonds can offer a real cost savings
for new equipment or machinery purchases or building acquisitions or
renovations costing anywhere from $750,000 up to $10 million. Bonds can be
arranged at variable or fixed interest rates for terms of up to 20 years.
Under current market conditions, the EDA is generally able to offer fixed
interest rates that currently range from about 4 to 5 percent.
The EDA also can help manufacturers meet their capital needs
by lending directly to them at below market interest rates, by guaranteeing
loans made by private lenders like banks, or by helping them access funding
through the Small Business Administration. Additionally, manufacturers
locating or expanding in New Jersey may take advantage of other state
programs and resources, including customized training grants, tax credits
and grants for relocations within the state.
- Portfields
- New Jersey has made significant progress on plans to transform
underutilized sites within the state’s Port District into productive uses
to support the expansion and modernization of warehousing and distribution
functions and the creation of related jobs. The Portfields Initiative, a
project between the New Jersey Economic Development Authority and the Port
Authority of New York and New Jersey, in collaboration with the New Jersey
Commerce, Economic Growth and Tourism Commission, the New Jersey
Department of Environmental Protection, and other state agencies, has
already pinpointed a number of underutilized sites that are targeted for
redevelopment. These efforts are geared toward building another 8 million
square feet of warehousing and distribution space in the region, which
encompasses sites roughly within a 25-mile radius of the Statue of
Liberty.
To help companies secure the
space and facilities to locate or expand their operations within the Port
District, New Jersey offers a wide range of financial incentives and
customized services including: land assemblage assistance; low-interest
funding for feasibility studies, site development, buildings and equipment;
incentive grants for creating new jobs; and rebates and low-interest loans
for the use of renewable energy systems, equipment and technologies.
To learn more about the
Portfields Initiative and how you can establish or expand your facilities
within the Port District of New Jersey, call (609) 777-0885. |
Existing
Companies, Clusters
Sites,
Buildings, Business Parks
- NJ commercial
property list
-
CRE Search
-
Featured properties - none
Science
Parks and Incubators
-
Technology parks directory
FTZ's -
Foreign-Trade Zones
-
FTZ directory
BRAC -
military base closures
-
BRAC directory
Rail,
Ports, Airports
Labor
Market
Demographic
and cost data
Utilities information
GIS map
presentations
Professional
services directories
-
Site selection,
location strategy
-
Project
management
-
Corporate
real estate
-
Property developers
-
Human resources
-
Logistics
-
Tax services
-
Legal
-
international
-
Utilities
|
|
To explore how the EDA can assist your organization
or development project, visit
www.njeda.com or contact us via telephone or e-mail.
To learn more
about:
- Low-interest
financing for businesses, nonprofits and municipalities through loans,
loan guarantees and bonds;
- Grants for
business attraction and expansion; or
- Urban, smart
growth redevelopment and brownfields investigation and cleanup funding:
Call (609) 777-4898 or e-mail
bcd@njeda.com .
- Entrepreneurial
training and business mentoring assistance:
Call (609) 292-9279 or e-mail
eti@njeda.com .
- Real estate
development services to advance major projects and technology facilities:
Call (609) 292-0369 or e-mail
red@njeda.com . |
|
| Article
provided by : Glenn J. Phillips
Public Affairs Officer
New Jersey Economic Development Authority
TEL 609-292-9297
Mailing Address: PO Box 990, Trenton, NJ 08625-0990
Street Address: 36 West State Street, Trenton, NJ 08625
Please let him know if you found this article to be
helpful, or if you have suggestions for improvement. |
PR :
Project Announcements
- New Jersey news, press releases
- US Mid-Atlantic
Region projects
Tourism
-
Residential
Real Estate
-
national
directory of resources |
| Latest update
to the above article : May 24, 2006. Requested May 3, 2006 |
The above is
GDI-Solutions content. |
| If quoting the
above material, please cite the state organization and
contact as the original source, and that it was found through
www.gdi-solutions.com
For more local area information, refer to our
New Jersey directory
of economic development agencies and chambers of commerce, or refer to our
US Mid-Atlantic
Region directory for additional sources of information, including
professional service providers in the region. |
Questions or
Comments?
Contact :
Bruce Donnelly
TEL
847-304-4655 Chicago |
|
This article was prepared by professionals who are responsible for the attraction of
business investment projects to the state, such as for new offices,
factories, distribution centers, etc. These articles are not edited to
reflect our own research, experience, or point of view, nor do we validate
the assertions which they have made in the article, or make any warranty about such
content. We provide other content and links through our independent
GUIDE research work. |
Please let us
know if there are other topics which you would like these articles to cover,
or if you feel that any updates or corrections are needed.
Comments based upon experience as an executive or professional service
provider responsible for the planning
of investment projects anywhere are welcome. We also welcome other
professional research reports which we can summarize and make available
through links to relevant websites where they are published. |
| Our
USA Search feature at
www.OnTheShortList.com can be used to selectively search the
websites of US state economic development agencies as a convenient research
tool. |
Similar research tools are the
Area Search
(areas within states),
CRE Search
(commercial real estate),
Event Search
(associations, trade shows), and
Media Search
(publications). |
| We also
maintain many reference directories
of economic development agencies, professional service provides, and topics
of common interest for capital investment project planning.
This includes directories of project announcements, property
listings, incentives information, labor market information, and many other
resources to facilitate project plans. |
Our
Research directory provides
links to many sources of information and data which may be helpful to
executives for capital investment project plans and quick reference in
general. The focus of our work, however, is to
provide personal response to business enquiries which are relevant to this
field. Please
contact us for assistance with business expansion plans. |
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