Cory Booker's Constituents - He reflects how we make our money [View all]

[JustAnotherGen]

Just a little FYI for the anti-Establishment Democratics in square states and the rust belt who want to take potshots at a beloved NJ Senator who takes money from:

"Evil - Banksters, Pharma and Telcos"


New Jersey's Economy: The 9 Industries Driving GDP Growth

By Ryan Downie | Updated January 13, 2016 — 4:54 PM EST

The largest industries driving New Jersey’s economy are health care; retail; accommodations and food services; manufacturing; financial services; construction; information technology; and aerospace. These industries contribute the most to employment and income. Among this group, construction and health care have the strongest growth prospects through 2020.

1) Health Services and Life Sciences

Health care and social assistance industries employ more people than any other industry group in New Jersey. According to the NJ Department of Labor, the health care sector has 511,300 workers in the state, or 13.3% of all employment statewide. This is higher than the U.S. average of 11.7%.

Fourteen of the world’s 20 largest biopharmaceutical companies operate in New Jersey, including Johnson & Johnson, Bristol-Myers Squibb, Merck, Novartis, Novo Nordisk and Bayer. Johnson & Johnson employs 13,500 people in New Jersey, making it the seventh-largest employer in the state.

2) Retail Trade

3) Accommodation and Food Services

4) Manufacturing

5) Financial Services

New Jersey is an attractive base for financial services firms due to population density and proximity to New York City. Prudential and Chubb both keep headquarters in New Jersey, and many other major banks have operations close to New York or Philadelphia. Several large data centers that serve New York financial clients are also located in the state. With 182,000 employees, financial services account for 6% of total employment in New Jersey and contribute $35 billion to the state economy. Fourteen of the 75 largest employers in the state are financial services firms.

6) Construction

The construction industry employs 3.4% of the New Jersey workforce and is among the fastest growth categories forecast by the Department of Labor. Residential construction is being driven by demand for multifamily units, which is offsetting some weakness in demand for single-family homes. Commercial construction is recovering as disposable income grows and consumer confidence returns. Research presented at the 2014 Construction Forecast Seminar predicts 20% growth over the next two years. Building construction employed 129,500 people in 2010, a total that is expected to grow to 166,300 by 2020.

Spending on infrastructure improvements is expected to drive employment in New Jersey in the coming years, especially among civil engineers. The Port Authority expects to spend $2.4 billion on improvements during 2015 and 2016, while the Turnpike Authority has authorized over $900 million of improvements during that period. NJ Transit plans $1.5 billion of improvements through 2016, while various utilities expect to incur $5.7 billion of construction costs. The state itself is struggling with the fiscal pressures of increased infrastructure spending, but the official budget calls for $1.5 billion of capital construction in 2016. The NJ Department of Labor expects civil engineering to be one of the fastest-growing industries, rising from employment of 16,600 in 2010 to 20,900 in 2020.

7) Information Technology

New Jersey has the second highest concentration of information and communications technology (ICT), employees in the U.S. The Department of Labor estimates that over 39,000 people are employed by telecommunications or Internet firms. An additional 61,000 people provide professional services related to computer system design. Verizon and AT&T each have a significant corporate presence in the state. Verizon is the fifth largest employer in the state, with 15,800 workers. The number of corporate headquarters in New Jersey and nearby major cities is attractive to enterprise ICT vendors.

8) Aerospace and Defense

http://www.investopedia.com/articles/investing/011316/new-jerseys-economy-9-industries-driving-gdp-growth.asp


Folks not sure if you understand this buuuuuuut - when a PRIVATE citizen gives money to a candidate they have to advise of their industry. Or - what their job/function is. Funny - I'm more public policy but sit under 'Finance' in Telecom.


So which truth do I tell?

Just remember - this is regional and even state centric.

I wonder if it has EVER dawned on the people outside of this state that he caters to those industries the EXACT SAME way the Manchin caters to his coal miners.

Hating him and looking down on him for responding to his constituents is point blank - stupid.

This is how we LIVE and WORK. Our Senator reflects us.

Now- if you don't like us for working in these professions - then from your genius mind - please tell me . . .

What job are bringing to my state that will cover the 9K a year in property taxes?

Yeah - I thought so. A lot of talk and no action from the anti Prosperity Crowd.