Dear Innovation NJ Members,
A study released by the Marion Kaufman Foundation and the Information Technology & Innovation Foundation ranks New Jersey 4th among the states for innovation companies. Clearly, we have assets to build upon and continue to be a national leader. However, please note that for the fourth time, Massachusetts is ranked #1 with its higher education system recognized as a driver for innovation.
NJ Ranks 4th in Innovative Companies
Martin Di Caro
New Jersey is known for political corruption, a mindless reality TV show, and the not-so-gorgeous view from the Turnpike. But a new report says the Garden State should be recognized for something a lot more positive. New Jersey ranks 4th in innovative, high-tech companies, according to a report by the Information Technology and Innovation Foundation.
“Most people, when they think about New Jersey, they wouldn’t think about New Jersey being the 4th most knowledge-intensive, tech-savvy state in the country, but that is where New Jersey is,” said Rob Atkinson, the ITIF’s president and the report’s co-author. “New Jersey has a lot of technology companies, a lot of corporate headquarters and regional headquarters in the suburbs of Philly, the suburbs of New York, around Princeton.”
New Jersey is home to a highly educated workforce and fast growing firms, two factors in its high ranking, the report said. “It’s sixth in the country in the amount of venture capital that’s invested to create new, fast growing companies. It’s number one in the country for broadband. It’s number six for the fastest growing firms. It’s number [two] in terms of the most workers who are IT professionals,’ said Atkinson.
“A lot of the high-skilled immigrants, particularly some from Asia, end up creating high-growth companies. They end up creating technology companies that create lots and lots of jobs,” Atkinson added. Massachusetts in ranked number one.
Atkinson said New Jersey’s life sciences and pharmaceutical sectors may be the best in the nation, if not the world. The entire report can be viewed at this link.