New Center Aims To Strengthen Business Ties Between NJ, Israel

NEWARK, NJ — A nonprofit economic development group that aims to “stimulate job creation and attract capital investment” in New Jersey recently opened a new office in Israel.

Choose New Jersey, which has a headquarters in Newark, said that the organization’s newest office will attempt to grow commercial, academic and cultural collaborations with Israel, and support businesses looking to expand to the Garden State.

According to a news release from the nonprofit:

“The center’s opening was celebrated during Choose New Jersey’s fifth mission to Israel since 2018 and is a direct result of New Jersey Gov. Phil Murphy’s commitment to developing strong economic ties with Israel throughout his administration. The center will be headquartered in Tel Aviv and led by Peres & Associates Global Advisory, a leader in creating global connections to the Israeli innovation ecosystem.”

The New Jersey-Israel Commission, part of the New Jersey Department of State, supported the center through a grant that was won by Choose New Jersey in 2022. The grant awarded funds to open an office in Israel to attract investment and business development leads for the state.

“I am thrilled to announce the opening of this center, which will undoubtedly deepen our economic relationship with Israel, its business leaders and its people,” said Wesley Mathews, president and CEO of Choose New Jersey.

“As we seek to grow New Jersey’s innovation economy, Israel will be a critical global partner for the state,” Mathews added.

According to Choose New Jersey, since the beginning of the Murphy Administration in 2018, foreign direct investment between New Jersey and Israel has steadily grown. Trade is overall up $447 million, a 36 percent total growth since 2018. Year-over-year, trade between the two states increased by 11 percent in 2022.

New Jersey ranked second in the Northeast in 2021 for Israeli investment, according to the U.S. Census Bureau. These investments have created 1,425 jobs from new or expanding Israeli companies, including Teva, Bluevine, Kornit Digital, and OwnBackup, Choose New Jersey said.

Gov. Murphy said the opening of the New Jersey Israel Center represents a “special bond between the two entities.

“Through numerous trade missions to Israel and continued engagement with Israeli businesses, universities, and government, we have strengthened our shared cultural and economic ties,” Murphy said. “New Jersey offers an incomparable suite of opportunities, and we are eager to support Israeli businesses looking to expand to the United States.”

“The New Jersey Israel Center is another significant link connecting us that will allow for sustained economic growth and easier business between our states,” the governor added.

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