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Point of View : Why a business should invest in New Jersey.

Contact :   TEL   847-304-4655

Bruce Donnelly   bruce@gdi-solutions.com    (Biography)

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Introduction

"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 will help you in confidence.  Our role is like a concierge who organizes market knowledge and an extensive network of contacts for quick, flexible, and private response to diverse needs through research and well-qualified referrals.

If you find this article or related content to be helpful, please let them know how you found it.  We also 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.

We also make it easy to search the content of fDi magazine - published by FT Business of the Financial Times group.  Try fDi Links, or just pick their "radio button" in the custom Google site search box on the home page at www.OnTheShortList.com or on this website. We handle US advertising sales and related marketing work for fDi magazine.  Refer to our profile of fDI magazine for more information, including highlights of back issues and future editorial and event plans, and examples of past advertisers.

state economic development logo, banner, or thumbnail ad image(s) not available to  publish here at this time

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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