Building A Stronger And Fairer Economy in New Jersey
We are a state of innovators.
From the incandescent light bulb to today’s groundbreaking cancer research, New Jersey has been and remains a place where human ingenuity flourishes. This ingenuity is made possible through our diversity. An international gateway with more than 20% of our residents coming from across the globe, our unique backgrounds help drive our communities forward.
Over the past decade, however, we have not made the most of our state’s assets. We have underinvested and insufficiently supported our families, students, workers, and businesses. As a result, New Jersey’s economy has experienced lagging economic growth and increasing inequality.
Our vision is to reestablish New Jersey as an economic and innovation leader: as a place where diverse talent, companies, and ideas flourish; where real pathways exist to the middle class; and where all residents can prosper in the economy. To unlock long-term and resilient economic growth, we must create a New Jersey economy that is both stronger and fairer.
Read the whole economic plan here.
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Economic Plan at a Glance
Economic Plan Progress
Five key goals to accomplish by 2025:
- Driving faster job growth over this period than all Northeast peer states by fostering a better, more supportive business climate
- Achieving faster median wage growth than all Northeast peer states
- Creating the most diverse innovation ecosystem in the nation and doubling venture capital investment in the state
- Closing the racial and gender wage and employment gaps
- Encouraging thriving and inclusive New Jersey urban centers and downtowns, with a focus on reducing poverty
Four strategic priorities:
- Investing in people to help all New Jersey residents prepare for and find work that supports and sustains families and investments in our future
- Investing in communities to build world-class cities, towns, and infrastructure statewide
- Making New Jersey the State of Innovation to harness the power of innovation to create more and better jobs across the state
- Making government work better to improve New Jersey’s competitiveness and business climate