Jersey City’s Exchange Place, home to a growing number of financial services companies, is nicknamed “Wall Street West.” This downtown business district also employs 15% of the State’s financial services workers.
Looking for a powerhouse setting for your financial services business? You can bank on New Jersey, which offers a sophisticated workforce and a prime location in the nation’s largest business corridor. No wonder more than 12,300 financial services operations are located in the Garden State, including Prudential Financial, Dun & Bradstreet and Depository Trust & Clearing Corporation. Other big names like Merrill Lynch, Goldman Sachs, Bank of America, PNC Financial, Commerce Bank, Wachovia, Citigroup, UBS, JPMorgan Chase and Bank of New York/Mellon have a major New Jersey presence, too. If you want to be where the money is, you want to be here.
- New Jersey is home to 21 Fortune 500 companies, five of which are Fortune 100 and Global 500 companies. The State also has operations for more than 1,100 multinational companies representing 40 nations.
- Recent policy changes include the sun-setting of the corporate business tax surcharge, as well as a 25% reduction in the minimum business tax for S-Corporations.
- Highly competitive corporate real estate rates
- Diverse locations, ranging from prime headquarter addresses to inexpensive options for support operations
- Special zone incentive programs for businesses locating to key urban centers
- Incentive grants to create or expand jobs in New Jersey
- Sales and Use Tax exemptions for relocation expenses like fixtures, furniture, equipment and building materials
Just across the Hudson River from New York City’s financial markets, New Jersey is perfectly situated for business. In addition to offering a lower-cost alternative for headquarters and back-office operations, the State features a comprehensive transportation system, which includes one of the nation’s most active commuter rail systems, major ports and the 14th busiest airport in the U.S.
Recruit from a deep talent pool of well-educated people. The State’s 257,000 financial services employees have the advantage of being near New Jersey’s 63 public and private colleges and universities, which include Fairleigh Dickinson, Princeton, Rider, Rutgers and Seton Hall universities. Nearly 30% of New Jersey residents hold Bachelor’s degrees.
When you need to relay financial data in real time or support state-of-the-art back-office operations, New Jersey provides a huge advantage. The State has an extensive and highly advanced high-speed fiber optic network that supports time-sensitive information.
The State has its own economic clout, too. New Jersey boasts a Gross Domestic Product of $426.7 billion and exported more than $38 billion in goods in 2011.