A highly-educated workforce and a strategic location just minutes from New

York City have made New Jersey a top choice for financial services companies.

With over 11,400 business establishments employing approximately 179,000

workers, the financial services and insurance sector is a major force in New

Jersey’s economy, contributing more than $31 billion annually.

Prudential Financial, New Jersey Manufacturers Insurance, Horizon Blue Cross

Blue Shield of New Jersey, the Chubb Group of Insurance Companies and TD

Bank (U.S.) are headquartered in New Jersey. Companies that have significant

operations in the State include PNC Financial, Bank of America Merrill Lynch,

Investors Bank, Wells Fargo, Goldman Sachs, JPMorgan Chase and Royal

Bank of Canada.

New Jersey’s proximity to Wall Street and superior broadband network have

also made it an attractive location for companies in the emerging FinTech

sector. In fact, three of the world’s top 100 FinTech companies ― Cognizant,

Indecomm and IPC Systems — are headquartered in New Jersey.

A Top Choice for Financial Services

NEW JERSEY

HORIZON BCBSNJ

PNC

MERRILL LYNCHBANK OF AMERICA

NJM

PRUDENTIAL FINANCIAL

INVESTORS BANK

WELLS FARGOCHUBB GROUP

GOLDMAN SACHS

JP MORGAN CHASE

TD BANK

ROYAL BANK OF CANADA

IPC

COGNIZANT

HIGHLY EDUCATED, HIGHLY SKILLEDNew Jersey has a well-earned reputation for its highly educated, highly skilled

workforce, which makes it easy for financial services companies to recruit top

talent.

More than 39 percent of the State’s workforce has earned a bachelor’s

degree or higher, compared with the national average of 31 percent. Morris

and Bergen counties in Northern New Jersey well exceed the national average

where nearly half of the workforce earns at least a bachelor’s degree. Fifteen

percent of our workforce has a graduate or professional degree.

Thanks to New Jersey’s colleges and universities, companies can tap into a

steady stream of talent. More than a dozen universities offer bachelor degrees

in finance, including Fairleigh Dickinson University, New Jersey City University,

Rutgers University, Stevens Institute of Technology and Thomas Edison State

University. Princeton University, the #1 ranked university in the U.S., plus

Fairleigh Dickinson University, Stevens Institute of Technology and others offer

graduate degrees in Finance.

Stevens also was the first university in the nation to develop a PhD program

in Financial Engineering. Today, its Financial Systems Center (FSC) and the

Hanlon Financial Systems Lab ― a simulated Wall Street trading room― are

helping to prepare the next generation for the demands of the ever-evolving

FinTech industry.

FOR US, IT’S ALL ABOUT THE TALENT, AND NEW JERSEY’S GOT IT. GREAT CLIENT SERVICING MEANS GREAT BUSINESS.

Linda Bowden, New Jersey Regional

President, PNC Bank

BOSTON

WASHINGTON DC

BALTIMORE

TRENTON

PHILADELPHIA

PROVIDENCE

NEW HAVENSTAMFORD

NEWARK

WILMINGTON

NEW YORK

AMTRAK ACELAWASHINGTON TO

BOSTON CORRIDOR

PERFECTLY LOCATED, HIGHLY CONNECTEDNew Jersey’s strategic location in the heart of the U.S. Northeast corridor,

with close proximity to both New York City and Philadelphia, has made it an

attractive place for financial services companies to locate their headquarters,

operations centers and data facilities.

The State’s competitive real estate market offers prime, yet less expensive

options for both headquarters and support locations than its New York City

neighbor. The State has lower utility costs, corporate taxes, and cost of living

relative to some nearby states.

New Jersey boasts one of the most extensive fiber optic networks in the world

with thousands of miles of installed fiber providing lightning-fast connectivity.

Northern New Jersey also serves as a network interconnection point to the

undersea internet cables running between North America and Europe,

providing financial services companies direct connections to the financial

hubs of London and Paris. It’s not surprising that New Jersey also is home to

2.14 million square feet of data center space, housing the servers that have

become the lifeblood of high-speed electronic trading. Financial exchanges,

including the NYSE and NASDAQ OMX now process most of their trading

information in server farms in New Jersey.

INCENTIVES & WORKFORCE DEVELOPMENTGrow New Jersey Assistance Program (Grow NJ): Companies may qualify

for tax credits that are fully transferable by creating as few as 25 full-time jobs

(10 for new technology startups.) Tax credits range from $500 to $5,000 per

job, per year, over ten years, with numerous bonus credits each ranging from

$250 to $2,000 per job, per year if the project meets certain requirements.

Maximum awards can reach as high as $15,000 per job, per year, and projects

can earn up to $300 million over 10 years.

Customized Training Grants: The New Jersey Department of Labor &

Workforce Development offers competitively awarded training funds to help

businesses develop industry-specific solutions to the workforce challenges

they face.

New Jersey’s Financial Services Talent Network: The State develops

strategic partnerships with employers, educators and workforce development

professionals to connect employers with trained employees and provide

workforce training to respond to the rapidly-changing needs of the financial

services industry.

NJ FINANCIAL SERVICESBY THE NUMBERS

MOST CONNECTED STATE

STATE FOR BROADBAND

LEADERS

OF THE WORLD’S TOP 100

FINTECH COMPANIES

OF NJ’S TOP 75 EMPLOYERS

FINANCIAL SERVICES

ESTABLISHMENTS

EMPLOYED IN FINANCIAL

SERVICES SECTOR

SQ. FT. OF DATA CENTER SPACE

#1

#5

3

12

11,420

179,000

2.14 MILLION

Burlington County

14,539

Ocean County

3,690

Mercer County

14,613Monmouth County

9,693

Middlesex County

13,539

Camden County

4,657

Cape May County

893

Atlantic County

2,363

Cumberland County

901

Salem County

415

Gloucester County

1,786

Somerset County

8,290

Hunterdon County

2,621

Warren County

542 Morris County

15,676

Sussex County

774Passaic County

4,365

Bergen County

14,072

Essex County

18,223

Union County

6,866

HudsonCounty

33,732

2016 Financial Services Employment

34,000 - 20,001

20,000-13,001

13,000-7,001

7,000-2,001

2,000-1

New Jersey Total: 178,768

Data Source: Occupational Employment Statistics Wage Survey, 2016, NJLWD

TOP OCCUPATIONS WITHIN FINANCIAL SERVICES

OCCUPATIONAL GROUPNew Jersey

Employment

Office and Administrative Support 67,560

Business and Financial Operations 45,880

Sales and Related 26,210

Management 15,690

Computer and Mathematical 13,710

Legal 1,700

All other 2,520

FINANCIAL SERVICES EMPLOYMENT

ACCESS TO ROADS, RAIL & MAJOR CITIES

Train Stations Major HighwaysNew Jersey Cities

lphia

New York City

Jersey City

Princeton

Trenton

Hoboken

Newark

New Brunswick

Parsippany

Bridgewater

Morristown

ACCESS TO AIR & WATER TRANSPORTATION

Newark Liberty International

Teterboro Airport

Morristown Municipal Airport

Linden Airport

Essex County Airport

Princeton Airport

Central Jersey Regional Airport

Trenton-Mercer Airport

Monmouth Executive Airport

South Jersey Regional

Cape May County Airport

Atlantic City Int’l Airport

George Washington Bridge Heliport

Newport Helistop

Paulus Hook Pier Helistop

Liberty State Park Helistop

Kearny Helistop Heliport

Carnegie Center Heliport

185 Monmouth Parkway Associates Helistop Heliport

Hargrove Heliport

Bridgeton Heliport

Port Newark/Elizabeth

Bayonne Piers

Port of Camden

Port of Paulsboro

Port of Salem

EdgewaterPort Imperial Weehawken

Lincoln Harbor

Hoboken North

Hoboken

Liberty Harbor

Liberty Landing Marina

Port Liberte

Atlantic HighlandsBelford-Harbor Way

Paulus Hook Pier

Newport

Airports PortsFerriesHelipads

ACCESS TO EDUCATION

Princeton University

The College of New Jersey

Rutgers University- New Brunswick

Rutgers University- Newark

Rutgers University- Camden

Rowan University

Montclair State University

New Jersey Institute of Technology

Stevens Institute of Technology

New Jersey City University

William Paterson University

Thomas Edison State University

Fairleigh Dickinson University

Stockton University

Monmouth University

Rider University

Seton Hall University

Ramapo College of New Jersey

St. Peter’s University

4-Year Universities

FINANCIAL SERVICES CLUSTERS (SELECTED)

Horizon BCBSNJ

NJM Insurance Group

Prudential Financial

Investors Bank

Goldman Sachs

JP Morgan Chase & Company

IPC

MetLife

TD Bank

UBS

Valley National Bank

DTCC

Bank of America Merrill LynchRoyal Bank of Canada

PNC Financial Services Group

Wells Fargo & Co.

Bank of New York/Mellon

Citigroup

Chubb Group of Insurance Companies

Citigroup

Bank of America Merrill Lynch

Cognizant Technology Solutions

Brown Brothers Harriman

Lord Abbett

Crum & Forster

Provident Bank

Munich RE

RealogyHoldings

PHH Mortgage

Volvo Financial

Bear Stearns

New York Life Insurance

Highpoint Safety and Insurance Managment Corp

Financial Services Companies (A Representative Sampling)$

Burlington County

96.7%

Ocean County

98.1%

Mercer County

97.8%Monmouth County

99.5%

Middlesex County

98.8%

Camden County

97.1%

Cape May County

97.4%

Atlantic County

95.9%

Cumberland County

93.6%

Salem County

95.7%

Gloucester County

98.1%

Somerset County

99.5%

Hunterdon County

98%

Warren County

98.6% Morris County

99.9%

Sussex County

100%Passaic County

100%

Bergen County

99.9%

Essex County

99.2%

Union County

99.7%

HudsonCounty99.2%

Broadband Coverage100 mbps

100-97%

96-90%

89-60%

59-30%

29-0%

Data Source: Broadbandnow.com (Sourced from: The

Broadband Commission, Federal Communications

Commission, United States Department of Commerce),

February 2018

#1 Most

Connected State

99% have access to wired broadband

(25 mbps or faster)

99% have access to wired broadband

(100 mbps or faster)

BROADBAND COVERAGE IN NEW JERSEY

WHY CHOOSE NEW JERSEY

HIGHLY EDUCATED WORKFORCE• 39% of the workforce has a bachelor’s degree or higher

• Highest concentration of scientists and engineers in

the world

• Ranked #2 for education in US News & World Report’s

2017 “Best States for Education”

• 63 colleges and universities, including Princeton

University, Rutgers University, Rowan University, New

Jersey Institute of Technology and Stevens Institute of

Technology

STRATEGIC LOCATION• At the heart of the Northeast Corridor—#1 distribution

market in the U.S.

• Within a two-hour drive of 22 million consumers with

$800 billion in income

• Within one day’s drive to 130 million consumers with

$3 trillion in disposable income

• #1 Largest Seaport on the East Coast

• #3 Busiest Seaport in North America

INTERNATIONAL GATEWAY • 270+ U.S. headquarters of foreign companies

• 21 Fortune 500 Companies and 4 Global 500

headquarters

• Comprehensive network of world-class seaports and

airports

• Nonstop flights to 130 international destinations

GENEROUS INCENTIVES• With the Grow NJ Assistance program, companies may

qualify for fully-transferable tax credits by creating as

few as 25 full-time jobs or retaining 35 full-time jobs.

Manufacturers may qualify by creating as few as 10

full-time jobs or retaining 25 full-time jobs.

FIRST-CLASS QUALITY OF LIFE• Diverse population with communities of interest for

international companies

• 130 miles of beaches, four professional sports teams,

rich arts and culture

• #1 Best Small City in the Country (Princeton)

• #1 Beach in America (Ocean City)

CONTACT Choose New Jersey, Inc.

201 Rockingham Row

Princeton Forrestal Village

Princeton, New Jersey 08540

phone: 609-297-2200

www.choosenj.com

ABOUT CHOOSE NEW JERSEY, INC.Founded in 2010, Choose New Jersey’s mission is to encourage and nurture

economic growth throughout New Jersey, with a focus on our urban centers.

Through integrated marketing and business attraction and retention efforts,

we stimulate job creation and capital investment, and collaborate with the

State’s universities to encourage research, discovery, and innovation.

Privately funded, Choose New Jersey is supported by a prominent group of

leaders from many of the State’s Fortune 500 and other top companies,

such as privately-held ventures, labor organizations, associations, and higher

education institutions. These organizations represent 1.25 million people, or

nearly one-quarter of the State’s private-sector workforce.

Choose New Jersey markets the State as a premier business location to both

domestic and international businesses, and offers companies interested in

locating or expanding in New Jersey a full range of complimentary services to

ensure a smooth process from planning through move-in including:

• Customized RFP responses

• Market assessment and planning services

• Site visits

• State assistance information

• Connections to a wide range of services provided by our public and

private partners ― from regulatory and legal assistance to workforce

training.

© 2018 Choose New Jersey, Inc., a private 501(c)(3) corporation. R 2/18

Margie Piliere

Chief Economic Development Officer

phone: 609.297.2190

email: mpiliere@choosenj.com