Posted on 10/05/2006 5:46:19 PM PDT by Coleus
NEW JERSEY has always been positioned at the leading technological edge of the American economy. This has long been the foundation of the state's prosperity, its high standard of living, and its attractive quality of life. Initially, New Jersey was preeminent in advanced technology-based manufacturing, but by the end of the 20th century, the state had evolved into a technology driven, knowledge-based, information-dependent economic dynamo. Only by being on the frontiers of economic innovation – only by continually moving "up-market" – has New Jersey maintained its enviable position. But, the economy did this largely on its own, with minimal public policy input.
Contraction begins
However, in recent years there has been an erosion of New Jersey's once-unique concentrations of technology-based economic assets. They have not only stopped growing in the 2000s, but in a number of important areas contraction has begun. The loss of national employment share in our technology-based industries has been steep and dramatic. New Jersey accounts for 3 percent of the nation's total employment base, and that would be the state's expected average share in any specific employment sector. In 1990, New Jersey accounted for 5.2 percent of the nation's total high-technology employment base, reflecting a significant concentration in the state. But by 2005, the state's share had dropped to 4 percent. While this still represents an above-average share, the scale of erosion is quite substantial. And it has affected every single high-technology sector.
Overall, New Jersey lost 8,400 high technology jobs between 1990 and 2005, while the nation added 1.3 million high technology jobs. At the same time, Texas added 165,900, Virginia added 130,000, California added 121,800, Georgia added 75,200, and North Carolina added 70,500.
(Excerpt) Read more at northjersey.com ...
RCA had a facility along the New Jersey Turnpike for testing the AEGIS naval radar system. Add to that Singer Kearfott (inertial guidance system, Totowa), ITT (defence related electronics, Nutley), several Bell Laboratories facilities (Whippany did much of the work on Nike, Nike-X, Safeguard, some ASW related systems), Picatinny Arsenal, and other defence related companies.
Hey, send some of them to Oklahoma, we're a right to work state too.
Enjoyed working for a U. for many years as a single person in MA. When it came time to start my own business (and get engaged), I fled to find a new homeland in the midwest.
I am a southerner who lived in NJ for many years. I loved it there. We moved back south to where it is more affordable to live. The funny thing is that we tried to avoid moving to NJ all our lives.
Sad, but true...
Regards,
I have a few Electronics magazines from the mid-1940's that I found in a used book store a few years ago.
Looking through the advertisements shows at that time perhaps 75% of the electronics industry was located within a 100 mile radius of New York City. California was clearly behind either NY or NJ in electronics manufacturing.
Jack
I've employed dozens of people over the past 10 years in a small software business and have probably paid millions of dollars in payroll taxes and the myriad of other taxes that New Jersey imposes.
Over the past year, the harrasment from the state has become unbearable. Monthly phone calls from the Depatment of Labor, miscellanious fees and extraneous extra taxes, auditors breaking our backs...
I will be closing my business in New Jersey as soon as feasible in 2007. I will never look back - and I will avoid doing business in (or with) New Jersey at all costs in the future.
Bitter? You bet.
New Jersey has become land of "Big Brother" and Tax Nazis. I'm outter here.
- da
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