The New Jersey Economic Development Authority (NJEDA) on Wednesday released the 2025 New Jersey Global Economic Index, its second annual report that highlights, ranks, and analyzes the sources of foreign direct investment into New Jersey. The annual report, which was first released last year, aims to guide and further develop international business relationships with the state. The report lists 42 countries on the index list, which added five countries — Malaysia, Thailand, Romania, Iceland, and Argentina.
“New Jersey has built robust connections with important global partners – from Ireland to the Middle East, and beyond,” said Gov. Phil Murphy. “The New Jersey Global Index provides critical insights that sharpen our economic development strategy, enabling New Jersey businesses, agencies, and organizations to seize new global opportunities. This, in turn, will generate jobs, boost the economy, and unlock new opportunities for residents and communities across the state.”
The state’s international economic outreach comes at a time when job creation in New Jersey has been lagging the U.S. The state added just 5,000 jobs in April and New Jersey’s jobless rate of 4.8% ranks it 42nd in the nation through April, compared with the national rate of 4.2%.
The Global Economic Index indicates that New Jersey, regionally, has the strongest economic relationships with Europe, the Asia Pacific region, and North America. While Europe had the highest number of countries listed as top performers with 21, research found that India ranked first as a global partner with New Jersey, followed by Canada, the United Kingdom, and China.
India and New Jersey are aligned across industries such as pharmaceuticals, life sciences, technology, manufacturing, and film. Ten of the 14 largest Indian pharmaceutical companies maintain corporate offices in New Jersey. In 2019, during Murphy’s business attraction mission to India, Choose New Jersey established the New Jersey India Center in Gurugram, laying the groundwork for expanded collaboration.
New Jersey welcomed Canadian businesses to work alongside New Jersey counterparts and invest during Murphy’s economic mission to our northern neighbor in 2024.
The report notes that the Netherlands, Germany, Switzerland, and Israel also hold a high rank as global partners. In 2024, Murphy visited Germany, the United Kingdom, and Canada. Additionally, the Asia-Pacific region is also an area of opportunity for New Jersey, including Japan and South Korea, which ranked ninth and 10th as global partners, respectively.
During his time in office, Murphy, along with the NJEDA and Choose New Jersey, has embarked on economic mission trips to India, Ireland, Israel, Germany, Japan, Korea, Taiwan, the United Kingdom, and Canada. As a result, Choose New Jersey has opened offices in those countries to foster ties between the Garden State and foreign partners. Recently, the delegation traveled to the Middle East, stopping in Saudi Arabia, Bahrain, and the United Arab Emirates. Murphy plans to lead economic mission trips to Israel, India, and Mexico during his final year in office.
“This data-driven report gives us a strategic advantage as we engage with partners abroad, showing where our strengths lie and where new opportunities are emerging,” said Wesley Mathews, president and CEO of Choose New Jersey.
