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New Jersey

A guide to help you understand the ins and outs of business in New Jersey

Overview

New Jersey is a Mid-Atlantic state with Trenton as its capital and Newark as its largest city. Ranking as the 47th smallest U.S. state by land area, it holds a population of roughly 9.55 million people, making it the 11th most populous state. Its highly productive economy produced an annual GDP of over $895 billion.

New Jersey's leading industries are pharmaceuticals and life sciences, financial services, advanced manufacturing, logistics and distribution, and information technology. Widely known as the "Medicine Chest of the World," the state supports the nation's largest biopharma manufacturing workforce and houses 8 of the world's top 10 pharmaceutical companies.

New Jersey and Qatar engage in bilateral trade primarily through U.S. macro-level agreements. Qatar's vast sovereign wealth, estimated between $400 billion and $1.2 trillion, funds U.S. real estate, tech, and defense, while New Jersey-produced goods (such as pharmaceuticals and machinery) are shipped to Qatar.

New Jersey's maximum corporate income tax rate is 11.5% due to a continuing 2.5% corporate transit fee surcharge. The state continues to operate four primary Foreign-Trade Zones (FTZs)—Newark/Elizabeth (FTZ #44), Salem/Gloucester (FTZ #142), Lakewood (FTZ #200), and Trenton (FTZ #235)—while offering robust economic incentive programs through the New Jersey Economic Development Authority.

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