Spotlight On: Wesley Mathews, President & CEO, Choose New Jersey
February 2025 — In an interview with Invest:, Wesley Mathews, president and CEO of Choose New Jersey, shared insights on the organization’s unique approach to economic development, international collaborations, key industries driving growth, and the resources available to support businesses in navigating New Jersey’s high-cost environment.
What makes Choose New Jersey’s approach to economic development unique, and how do you collaborate with the state government?
Choose New Jersey is a nonprofit organization that works closely with the state government on economic development. Many states have similar nonprofits, but ours stands out due to our international footprint and exceptionally close and engaging relationships with the governor and key partners in state government, like the New Jersey Economic Development Authority (NJEDA), ensuring our strategies align with the state’s vision.
Over the last seven years, Choose New Jersey has opened many international offices. These offices reflect New Jersey’s history as a leader in global business attraction, dating back to the 1980s and 1990s, when the state had offices in Asia Pacific, China, Mexico, and London. Changing administrations and shifting priorities led to their closure, but under Governor Murphy’s leadership, we made the strategic decision to establish new centers under the Choose New Jersey banner, providing flexibility in staffing and market strategies.
What international and domestic initiatives has Choose New Jersey undertaken recently?
In the past seven years, Choose New Jersey has opened five international offices in key regions with strong trade and investment ties to the state. These include offices in Ireland, Israel, Germany — overseeing business attraction throughout Europe, and two in India — Delhi and Bengaluru. Most recently, we opened an office in Taipei, Taiwan, serving as our Asia Pacific Center and coordinating representatives in mainland China, Japan, and Korea.
Domestically, we launched the New Jersey West Coast Center in Sunnyvale, California, in 2024. This center targets West Coast companies, especially startups, encouraging them to consider New Jersey for expansion. We emphasize the state’s advantages as a prime East Coast location for growth without requiring full relocation. Additionally, New Jersey is reclaiming its role in the film industry, supported by an aggressive film incentive program and its legacy as the birthplace of motion pictures.
How does Choose New Jersey promote the state abroad, and what are your plans for the future?
A major part of our strategy involves “re-introducing” New Jersey to international audiences, primarily through economic missions abroad with the governor and delegations of business and higher education leaders. In 2024, we visited California, where we engaged with Silicon Valley startups and venture capital firms, strengthening New Jersey’s reputation as a startup-friendly state. These efforts have made New Jersey the third-ranked state for venture capital attraction, behind California and New York, which are much larger states. The trip also included Los Angeles, where we promoted opportunities in film and television.
Last year we visited Canada, the UK, and India, which remains a key source of businesses expanding into North America. We maintain a full-time presence in India and make annual trips to strengthen ties. Our business development team also traveled to several other countries as part of their regular outreach.
Looking to 2025, we plan to continue these efforts while adapting to the state’s political transition. With the upcoming gubernatorial election, we aim to ensure the next administration is well-informed about our achievements and positioned to build on them. Choose New Jersey remains committed to driving economic growth and supporting the state’s future initiatives.
What are some of the key industries or sectors that New Jersey is focusing on to ensure continued economic diversification and growth?
New Jersey has long been a leader in life sciences and remains committed to maintaining its prominence in this sector. However, significant strides are also being made in clean energy, advanced manufacturing, film and television, logistics, transportation, and fintech. While Wall Street is world-renowned, New Jersey strengthens this ecosystem with tens of thousands of residents working for major Manhattan-based banks and institutions.
Life sciences are embedded in New Jersey’s identity, supported by a talented workforce.New Jersey boasts the highest number of engineers and scientists per capita in the U.S., a talent pipeline fed by its top-ranked public schools and outstanding universities like Princeton, Rutgers, NJIT, and Stevens. This focus on talent supports leadership in life sciences, biotech, finance, renewable energy, and more. New Jersey prioritizes businesses that align with its expertise and long-term trends.
Under Governor Murphy’s leadership, strategic innovation hubs have been established statewide. The HELIX in New Brunswick focuses on life sciences, HAX in Newark on hard tech, SciTech City, Jersey City’s hub on technology, and NJ FAST in Hoboken has become a fintech incubator, graduating its first startups. These hubs foster collaboration between corporations, universities, and small businesses, ensuring New Jersey remains competitive and innovative.
What do you consider to be the impact of international collaborations and partnerships?
At Choose New Jersey, impact is measured by job creation, investment, and economic growth. However, fostering collaborations between higher education institutions and international centers is equally vital for driving innovation, creating startups, and sustaining growth.
Talent and location are New Jersey’s value proposition. It’s crucial to connect universities like Princeton, Rutgers, NJIT, Stevens, and Rowan with the state’s economy and international partners. Each institution has unique expertise, and by pairing them with global institutions, we unlock opportunities.
Choose New Jersey plays a central role in formalizing these partnerships. While connections once relied on personal relationships, we’ve created a strategic, state-level approach. For example, Princeton and Cambridge collaborate closely, Rutgers, Stevens, NJIT, Rowan, and other New Jersey universities have relationships and formal partnerships in various parts of the world. Kean University has a full-fledged campus in Wenzhou, China.
Our global offices also act as points of presence for New Jersey universities, helping them expand their reach and build international relationships they might not otherwise establish.
Are there any specific infrastructure or development projects in the region that Choose New Jersey is actively involved in or would like to highlight?
New Jersey’s location provides a significant advantage, starting with one of the world’s most connected airport systems. Newark Liberty International Airport, along with LaGuardia and JFK, form one of the largest global hubs. This enables businesses to connect seamlessly to Manhattan, New Jersey, and the Northeast Corridor. Within a three-hour drive, companies can access a market of 40 million people.
Approximately 20-25% of the world’s GDP flows through New Jersey, making it attractive for businesses seeking an East Coast presence. While Choose New Jersey doesn’t manage infrastructure projects directly, we highlight significant developments.
The Gateway Project, which involves building two new tunnels under the Hudson River, is among the most consequential infrastructure projects in North America. These new tunnels will improve transportation between New Jersey and New York, benefiting the Eastern Seaboard as Amtrak’s Northeast Corridor line relies on them.
Another exciting development is the 2026 FIFA World Cup, where New Jersey and New York will host eight games, including the final at MetLife Stadium in East Rutherford. This event is expected to be the most-watched sporting event in history.
In film production, New Jersey is partnering with Netflix and Lionsgate to build world-class studios. Netflix is transforming the former Fort Monmouth Army base into its East Coast hub, Lionsgate is constructing a multi-stage studio in Newark, and Bayonne will soon host 1888 Studios, one of North America’s largest projects. These developments highlight the state’s commitment to revitalizing its economy through innovation.
Strategic innovation hubs further reflect this vision. Projects like the HELIX NJ in New Brunswick, HAX in Newark, and NJ FAST in Hoboken provide collaborative spaces for corporations, universities, and startups to work together, driving growth and innovation statewide.
What are the main challenges faced by small and emerging businesses in New Jersey, and what resources are available to help them?
New Jersey is not the lowest-cost state. Its ideal location in the heart of the Northeast Corridor, between New York City and Philadelphia, contributes to higher costs for businesses and residents. The governor emphasizes that for every dollar in taxes paid, the basket of goods — including top-ranked public schools, infrastructure, and safety — must deliver value. This includes public transportation, higher education, environmental standards, and social policies like protecting residents’ fundamental human rights and gun safety.
Small and medium-sized businesses often feel the strain of these costs. For example, New Jersey’s minimum wage now exceeds $15 an hour, which benefits workers but can challenge smaller businesses. To address these issues, the state offers one of the country’s most robust toolkits of incentives and support programs. The NJEDA provides over 100 programs for businesses of all sizes and manages one of the largest pools of incentive funding in the nation. These resources aim to make the numbers work for businesses, whether they are relocating, expanding, or starting up.
The New Jersey Business Action Center (BAC), part of the Department of State, also focuses on helping small businesses. It provides guidance on business plans, marketing, and regulatory requirements. The BAC has been pivotal in supporting the state’s growing cannabis industry, helping formerly incarcerated individuals impacted by marijuana convictions start businesses in the legal cannabis sector as part of the administration’s social justice initiatives.
While New Jersey may never compete on costs with southern states like Texas or Mississippi, its combination of high-quality services, a skilled workforce, and targeted programs ensures businesses receive strong value for their investment. The state’s goal is to build a stronger and fairer economy, ensuring that a rising tide lifts all boats. The governor often says that if New Jersey had a bumper sticker, it would read, “The number one state to raise your family.” Beyond all of the economic advantages that the state offers, that is a compelling argument for business leaders.
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