New Jersey economy

Commonly referred to as simply the Turnpike , it is known for its numerous rest areas named after prominent New Jerseyans. New York Waterway has ferry terminals at Belford, Jersey City, Hoboken, Weehawken, and Edgewater, with service to different parts of Manhattan. Most large municipalities and a majority of New Jersey's residents are governed by municipalities with Faulkner Act charters. The Bureau of Economic Analysis also reported that personal income in New Jersey increased at an annual rate of 5,6% in the quarter covering April, May and June.

The Bureau of Economic Analysis also reported that personal income in New Jersey increased at an annual rate of 5,6% in the quarter covering April, May and June. New Jersey has continued to attract many industries, especially corporate headquarters from New York City, largely through its greater space, better transportation, and favourable tax rates.

Where does New Jersey rank in economy?

North Carolina ranked first, following by Washington, Virginia, Colorado, Texas, Tennessee, Nebraska, Utah, Minnesota and Georgia. New Jersey was ranked as having the worst economy, which takes into account economic and job growth in the past year, each state’s fiscal condition including its budget and pension obligations, the residential real estate market and the number of major corporations who call the state home. The other states behind New Jersey were Alaska, Louisiana, New Mexico, Hawaii, Rhode Island, West Virginia and Maine. TRENTON – New Jersey was ranked 42nd in CNBC’s new rankings of the best states for business, with its highly ranked education system only going so far in countering failing grades for the economy, business friendliness and cost of living.

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