POPULATION: 8,724,560 (2006 estimated)
LABOR FORCE: 4,512,600 (August 2007 estimated)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Agriculture, manufacturing, distribution, services
EXPANDING INDUSTRIES: International trade, biotechnology, health care, telecommunications, research and development, business services, travel and tourism
COLLEGE GRADUATES: (Age 25 and over) 29.8%
BASIC BUSINESS TAXES:
Corporate Income Tax: 9 percent of net income with adjustments; 7.5 percent for small businesses
Sales and Use Tax: 7 percent of taxable sales and uses, rentals, occupancies, and admissions
Property Tax: Real property subject to taxation unless specifically exempt; taxes administered by local taxing districts; tax based on percentage of assessed value
BUSINESS INCENTIVES:
New Jersey Economic Development Authority:
- • Business Employment Incentive Program (BEIP)
- • Corporate Tax Credits
- • High-Tech Initiatives
- • Sub-Chapter S Provision
- • Direct Loans/Loan Guarantees
- • Statewide Loan Pool
- • Tax-Exempt Private Activity Bonds
- • Taxable Bonds
- • Trade Adjustment Assistance Center
- • Recycling Loans
New Jersey Redevelopment Authority
New Jersey Commerce and Economic Growth Commission:
- • Business Attraction, Retention, & Development
- • International Trade and Protocol
- • Business Services (small business, call management center)
- • Urban Programs
- • Business Relocation Grants (BRRAG)
New Jersey Department of Labor & Work Force Development:
- • Workforce Development Program/Customized Training
- • Labor Market and Demographics
- • N.J. State Data Center