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Apr 26th
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More New Jersey jobs expected for import-export industry

welding051111_optChristie administration boasts its pro-business strategy a key factor

Since late January of last year — the same time when Gov. Chris Christie took office — there have been 14 new foreign direct investment projects in New Jersey, including three Memorandum of Understandings that were signed at the New Jersey-Zhejiang Province, China Trade Symposium, the governor‘s office said on Monday.

The projects represent over $1.4 billion of new capital investment in New Jersey and are expected to create at least 410 new jobs. The majority of the foreign direct investment has come from China, Italy, Germany, France and the United Kingdom.

“New Jersey’s import-export industry is a cornerstone of our economy and increasing investment into New Jersey is critical to the growth of our economy,” Chrstie said in a statement. “By expanding the number of businesses that bring operations into New Jersey, we can leverage foreign investment as a powerful engine for New Jersey’s economic growth and job creation.”

Improving the level of foreign investment in the state in an effort to add jobs is a goal of the Christie administration. Christie has created the New Jersey Business Action Center and its Global Advocacy team that focuses on bringing new global investment into the state. As part of the strategy to grow foreign investment, the state has hosted more than two dozen foreign delegations and meetings with trading partners including last week’s symposium, as well as a 75-member delegation with China’s Vice Minister of Commerce last fall.

The state has invested $1 billion into modernizing the Bayonne Bridge to enable larger tankers to pass beneath — an infrastructure investment important to the ports of Newark and Elizabeth. The state also signed two agreements to open trade offices in Shangri and Europe to provide continuous outreach to foreign markets; as well as leveraged the governor’s appointment to the Advisory Committee for Trade Policy and Negotiations by President Obama to support free trade agreement and grant fast-track trade promotion authority for the president to encourage the expansion of trade.


Comments (1)
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