New Jersey, otherwise known as the “Garden State”, is a state in the U.S. with a diverse economy, which has been built over time through the efforts of both public and private entities.
The state’s economy is supported by a diverse range of key industry sectors, including pharmaceuticals, transportation, financial services, agriculture, and manufacturing.
In this blog post, we will take a closer look at the top industries in New Jersey, how they came to be, as well as some of the major players in each field.
With a population of 9.26 million that continues to grow, New Jersey offers a variety of local opportunities within its borders. The state’s thriving economy is the result of a combination of factors, including its strategic location, educated workforce, diverse industries, and business-friendly environment.
These factors have helped to make New Jersey an attractive location for businesses and workers alike. Let’s now take a look at some of the top New Jersey industries.
New Jersey is known as the “Medicine Chest of the World” due to its thriving pharmaceutical industry and high concentration of scientists and engineers. In total, 14 of the 20 largest pharmaceutical firms are located in the state, with more than 400 biotechnology and pharmaceutical companies that include global giants like:
This New Jersey industry is a major employer in the state, providing jobs to more than 64,215 people. NJ’s position as a hub for pharmaceutical research and development can be traced back to the 19th century, when companies like Squibb and Pfizer set up shop in the state.
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New Jersey’s location on the East Coast has also made it a hub for transportation and logistics.
With transportation now being one of the biggest industries in New Jersey, the state is home to several major airports, including Newark Liberty International Airport, which ranks among the busiest airports in the United States.
The state also has a large port system, which includes the Port of New York and New Jersey, the third-largest port in the country. This industry sector continues to grow and play a major factor in the NJ economy today.
New Jersey boasts one of the highest concentrations of major financial institutions, including Prudential Financial and TD Ameritrade. As one of the top industries in New Jersey, the state’s proximity to New York City has made it a popular location for financial firms to set up shop.
The state of New Jersey is also home to several major class universities and research institutions, including Rutgers University, which has a highly regarded business school. This has helped to attract top talent to the state and has contributed to the growth of the financial services industry in New Jersey.
Learn how Exigent – one of the leading IT companies in the area – continues to propel growth within some of the biggest industries in New Jersey. Among the services we provide to these key industries, and others, are:
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While not as well known as some of the other industries on this list, agriculture is an important part of New Jersey’s economy. The state is known for its cranberry bogs, blueberry farms, and tomato fields.
In fact, New Jersey is one of the top producers of cranberries in the United States as the fourth largest in the country. Agriculture has been a part of the state’s economy for centuries and continues to provide jobs and support local businesses.
New Jersey has a long history of chemical manufacturing, dating back to the 19th century when companies like DuPont and Bayer established operations in the state. Over time, the state became a hub for the manufacturing sector in everything from chemical manufacturing to medical device manufacturing due to its access to raw materials, transportation networks, and skilled workforce.
Key players in NJ’s manufacturing industry economy include:
Now that you know all there is to know about New Jersey’s top industries, it’s time to become a growth driving force within your own.
As a top provider in the managed IT and professional services industries in New Jersey for more than26 years, Exigent’s team of IT professionals is highly skilled and knowledgeable, with expertise in a range of diverse technologies and platforms.
We can help you stay up-to-date with the latest trends and developments in the industry, while providing strategic guidance on how to optimize your IT systems and processes.
Contact us today to learn more about how we can help you drive growth in some of the most competitive industries in New Jersey.
Daniel Haurey Jr. is the president and founder of managed IT services provider Exigent Technologies, which he founded in 1997. Under his leadership, the MSP has earned accolades ranging from Channel Futures MSP 501 to being named SonicWall’s 2024 MSP Growth Partner of the Year. Dan is a true entrepreneur, dedicated to growing, investing in, and mentoring small businesses. You can find him on LinkedIn, where he regularly posts about technology, business, leadership, and community.