NJ Business Facts

NJ Business Facts

According to New Jersey Business (July 2006), the state is ranked 44th out of 50 states in increasing its Gross Domestic State Product during 1st quarter 2006.  It seems that only West Virginia and the Great Lakes states (downturn in autos) performed worse.

Job growth over the past two yeats has been in the low paying retail and hospitality categories—with the loss of 125,000 high paying jobs.

(It seems I remember a current administration move during the masterplan process opted focus on hotel and further residential development over technology incubators that would have utilize the warehouses in the Western part of town and leveraged local talent -an opportunity existed to receive funding from state-we could have done both but it would have required ditching the rateables chase for two minutes.)

One our of SEVEN (14%) workers in the state is employed by government.

Neighbors:  Jersey City has over 8,000 residential units under construction.  15, 000 more are in the pipeline for approval.  And 50,000-60,000 more are expected to be built in 25 years. Newport has approved building at least 16 residential high-rise buildings.  (New Jersey Business, August 2006)

Beth Mason
Hoboken, NJ

Comments (1)

michael somma
Said this on 1-26-2008 At 11:54 am
thaks for your insight and info.
Thank God, I was starting to think I was the only one
to believe N.J. wastes most of its budget on fat overpaid govt.

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