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High-tech industry leaving New Jersey
NorthJersey.com ^ | 09.17.06 | JAMES W. HUGHES and JOSEPH J. SENECA

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 ...


TOPICS: Business/Economy; Culture/Society; Government; US: New Jersey
KEYWORDS: buisness; njjobs; taxes; technology
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1 posted on 10/05/2006 5:46:20 PM PDT by Coleus
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To: Coleus
Dick Morris was right about one thing.

Corzine is going to change NJ into a red state.

2 posted on 10/05/2006 5:47:25 PM PDT by mware (Americans in armchairs doing the job of the media.)
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To: Coleus

Yup, that's what happened in Massachusetts, with many companies moving their headquarters to other places (NH, Va. Fla and Arizona) rather than deal with the Taxachusetts attitude that remains to this day.


3 posted on 10/05/2006 5:49:12 PM PDT by theDentist (Qwerty ergo typo : I type, therefore I misspelll.)
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To: Coleus

Lot of Big Pharm in N.Jersey, moving its technical manufacturing to N. Carolina to escape the unions.


4 posted on 10/05/2006 5:50:58 PM PDT by HonestConservative (Xenophobe with hair on fire)
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To: Coleus

there was high tech industry in new jersey??


5 posted on 10/05/2006 5:51:58 PM PDT by chilepepper (The map is not the territory -- Alfred Korzybski)
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To: chilepepper
there was high tech industry in new jersey??

Yeah, it was forensics. Someone has to identify all those dead bodies.

6 posted on 10/05/2006 5:53:17 PM PDT by Extremely Extreme Extremist
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To: Extremely Extreme Extremist

"Yeah, it was forensics. Someone has to identify all those dead bodies."

fuggedaboutit!!!!

bada bing bada boom!!!


7 posted on 10/05/2006 5:55:29 PM PDT by hnj_00
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To: chilepepper
there was high tech industry in new jersey??

At one time, the biggest.
8 posted on 10/05/2006 5:56:28 PM PDT by July 4th (A vacant lot cancelled out my vote for Bush.)
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To: Coleus
NJ will wake up someday and they will be a seasonal economy only.
9 posted on 10/05/2006 5:59:58 PM PDT by bmwcyle (Only stupid people would vote for McCain, Warner, Hagle, Snowe, Graham, or any RINO)
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To: Coleus

Much of it was university related. The high tech industries around Rte. 128 in Massachusetts owed their start to MIT and Harvard. In New Jersey, it was mostly Princeton and Rutgers.

But with skyrocketing taxes, insurance costs, etc., it's no longer as attractive as it was.


10 posted on 10/05/2006 6:01:06 PM PDT by Cicero (Marcus Tullius)
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To: chilepepper
There was high tech industry in new jersey??

Home to both the ATT and Lucent World Headquarters.

11 posted on 10/05/2006 6:05:02 PM PDT by T. Jefferson
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To: Coleus
s...pffft Who cares what happens to a Blue State's citizens? In addition to losing these tech jobs, NJ just passed a law for higher taxes a few months ago.

People don't understand until it's too late like Taxachusetts that taxes play a big role in whether companies start up and/or continue to do business in their state.

12 posted on 10/05/2006 6:08:42 PM PDT by xtinct (I was the next door neighbor kid's imaginary friend.)
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To: Coleus

Man, who isn't leaving New Jersey? Isn't their state song "Born To Run"?


13 posted on 10/05/2006 6:09:54 PM PDT by Zeroisanumber (Quis custodiet ipsos custodes?)
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To: T. Jefferson

RCA in Camden was pretty hi tech in its day (my dad worked on radios and TV there in the 50's).


14 posted on 10/05/2006 6:11:34 PM PDT by palmer (Money problems do not come from a lack of money, but from living an excessive, unrealistic lifestyle)
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To: Extremely Extreme Extremist

Bell Labs, for one


15 posted on 10/05/2006 6:15:14 PM PDT by bws53
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To: Coleus

I love NJ. My family has had a house at the shore since 1964, but holy crap, the taxes and government corruption are beyond belief unless you have to deal with it...no wonder business is leaving.

Regards,


16 posted on 10/05/2006 6:15:15 PM PDT by Thunder 6
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To: Coleus

BTW, love your home page.
Regards,


17 posted on 10/05/2006 6:16:46 PM PDT by Thunder 6
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To: Coleus

To all my NJ freeper friends. sorry But your state is getting what it deserves. The people elected Corzine and knew what they were getting.


18 posted on 10/05/2006 6:18:21 PM PDT by TheRedSoxWinThePennant
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To: HonestConservative

I know 5 Pharma guys who have been transferred to North Carolina in the past five years. It's getting to be an exodus. When somebody moves out, you don't even have to ask where they're going.

One of my friends said that when he got to North Carolina, he found a lot of people in his new town that moved there from his old town.


19 posted on 10/05/2006 6:18:44 PM PDT by gridlock (The 'Pubbies will pick up at least TWO seats in the Senate and FOUR seats in the House in 2006)
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To: bws53

Edison got his start in Edison, NJ, then moved up to West Orange, NJ.


20 posted on 10/05/2006 6:20:22 PM PDT by gridlock (The 'Pubbies will pick up at least TWO seats in the Senate and FOUR seats in the House in 2006)
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