Key areas of growth in New Jersey

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Although New Jersey might be one of the smallest states in the US, it has routinely been punching above its weight in recent years. The state might not have one of the super cities, such as the surrounding metropolises of New York and Philadelphia. Still, several fast-growing towns in New Jersey suggest that things are definitely on the rise. So what industries are fuelling this revival of the Garden State?

Tourism

New Jersey’s compact size hasn’t stopped it from becoming an increasingly popular place for tourism. One of the main attractions is the pull of Atlantic City, which is known for its extravagant variety of casino gaming establishments. 

 The introduction of legalized gambling in Atlantic City came about in 1976 as an effort to revitalize the city’s economy, and it quickly led to the construction of many iconic casinos such as the MGM-owned Borgata Casino. This placed Jersey right up there next to Nevada – as a very popular nightlife location for entertainment and casino fun and in return, resulted in an increased tourism. Nowadays, New Jersey is also one of the few states in the US where players can play legally at a number of popular online casinos – as the New Jersey casino sites listing shows.

Away from the glamour of the casinos, it’s the beautiful beaches of New Jersey that could be its biggest attraction. From the famous boardwalk of Atlantic City to the beautiful windswept beaches around Wildwood, there are few better places to experience the wonder of the Atlantic Ocean. Plus Victorian Cape May remains one of the quaintest seaside resorts in the whole of the USA. 

Technology

While high-tech industries tend to cluster around the larger cities, New Jersey has managed to develop its impressive tech scene. The state has always had a strong reputation for its technical know-how with crucial contributions in giving us innovations such as video recorders, color television, and LCD screens. Plus, with no less than 14 New Jersey companies making the Deloitte’s Technology Fast 500, it shows that this is a real area of growth in the state.

In particular, it’s the region around Princeton that has emerged as the state’s high-tech hub. Thanks to the proximity of the Ivy League research university, there have been many important initiatives, such as the Keller Center developed. The Center has proven to be invaluable for starting a number of high-tech entrepreneurs in the state. These have included the likes of Polyera Corporation, which produce semiconductor equipment for a variety of engineering industries. 

Other promising tech brands in New Jersey include the Princeton-based Wattvision, who develops energy-saving sensors, Yashi’s video advertising platform, and PerformLine’s automated compliance systems. Plus, with initiatives to power breakthroughs in renewable energies in New Jersey, it seems that this state is starting to lead the way in many technological areas.

Pharmaceuticals

There is little denying the fact that New Jersey is one of the key pharmaceutical hubs of the nation. With several large pharmaceutical brands such as Johnson and Johnson and Bayer Healthcare based in the state, there are no less than 118,000 New Jersey citizens employed by the industry.

All this has rolled out to influence the growth of many ancillary industries, such as biotechnology research and medical manufacturing. In fact, in the period between 2013 and 2018, the New Jersey pharmaceutical industry grew by a staggering 14.7%. A wide range of research institutions and teaching hospitals have proven to be hugely attractive to many businesses operating in the industry, which has bolstered the pharmacy industry growth.

Also, with New Jersey having a relatively elderly population, it has seen an increase in the demand for healthcare services. The home healthcare sector will add over 70,000 jobs in the state by 2026. All of which should see New Jersey capitalizing on its sustained growth over the past decade.

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