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Newly Released New Jersey Trade Data on Israel鈥檚 72nd Independence Day Show Significant Economic Improvements with Israel

Trenton, N.J. - On Israel鈥檚 72nd Independence Day, the New Jersey 鈥� Israel Commission joined in celebration by showing that the relationship between the Garden State and the Startup Nation has never been stronger and is benefiting New Jerseyans by bringing jobs and opportunity to our state. Trade between New Jersey and Israel notably increased from 2018 to 2019, alongside steady investments from Israel.

鈥淚 was proud to visit Israel in 2018 and seek out innovative opportunities for our state. Especially as they reach their historic 72nd anniversary we see how our relationship with Israel remains so important. I鈥檓 glad to see it is resulting not only in a stronger bond between our communities, but in real economic growth that will continue to propel our state forward,鈥� said Governor Phil Murphy.

Trends in the data point to higher exports from New Jersey to Israel and larger amounts of foreign direct investment from Israel moving into New Jersey with several positive ranking changes. The new numbers paint a picture of a symbiotic relationship.

Data from the Census for Trade and fDI Markets shows several positive developments from 2018 to 2019 unless noted otherwise by year:

• New Jersey moved from 3rd to 2nd place as a recipient of Israeli greenfield foreign direct investment (FDI) in the Northeast and received the 4th largest amount of inward FDI from Israel between 2015-2019 amongst all US states.
• Within the United States, New Jersey moved from 7th to 6th place as an exporter to Israel with the total value of exports increasing by $33M.
• Israel moved up from 13th to 12th place between 2015 and 2019 as an international source of greenfield FDI in New Jersey.
• Israel jumped two positions from 31st to 29th as the largest international trading partner of New Jersey.
• New Jersey remains the 5th largest importer from Israel amongst the US states.
• Overall two-way trade between New Jersey and Israel increased by approximately $32.5 million.
• Of all the US states, Israel received the 4th largest amount of FDI from New Jersey between 2015-2019.

Despite the global economic challenges being seen in 2020 due to the impact of COVID-19, last year鈥檚 trade statistics point to growing trade prior to the onset of the crisis.

鈥淯nder Governor Murphy鈥檚 leadership, we鈥檝e been working hard to fulfill his vision to reclaim New Jersey鈥檚 place at the forefront of innovation and bring foreign domestic investment into the Garden State,鈥� said Sexy真人EDA Chief Executive Officer Tim Sullivan. 鈥淭he economic importance of our relationship with Israel cannot be overstated, and I look forward to continued partnership and growth in the months and years ahead.鈥�

The positive information seen in today鈥檚 announcement reflects New Jersey鈥檚 commitment shown since the onset of the Murphy Administration for its special relationship with Israel, including visits by the Governor, Secretary of State Tahesha Way, Choose New Jersey, and other senior officials.

鈥淚srael remains a key partner to our state and the work of the New Jersey 鈥� Israel Commission is taking this relationship to the next level,鈥� said Secretary of State Tahesha Way. 鈥淢y visit to Israel at the end of last year and interaction with Israel鈥檚 Consul General, Ambassador Dani Dayan, only confirmed that we must continue to develop New Jersey鈥檚 partnerships with Israel.鈥�

Ambassador Dani Dayan, Consul General of Israel in New York remarked, 鈥淎s Israel celebrates 72 years of independence, we are proud to call the Sexy真人y one of our most steadfast friends. Economic investment is only one example of the many ways in which our unwavering friendship knows no bounds.鈥�

In 2019 Governor Murphy and Secretary Way announced a new effort to enhance the role of the New Jersey 鈥� Israel Commission while strengthening and modernizing its mandate. The Commission, which oversees New Jersey鈥檚 relations with Israel, is continuing to seek opportunities to enhance trade and work with partners in state government and beyond to ensure that this successful partnership with Israel grows even stronger in the years to come.

Andrew Gross, Executive Director of the New Jersey 鈥� Israel Commission, stated, 鈥淚鈥檓 proud to see these new trade numbers reflect an important reality that our state鈥檚 relationship with Israel is bringing such tangible benefits. On Israel鈥檚 72nd Independence Day we celebrate this milestone not only by reflecting on New Jersey鈥檚 historic connection with Israel but in showing that our shared future has incredible potential.鈥�

Jose Lozano, President & CEO of Choose New Jersey said 鈥淐hoose New Jersey was proud to lead a business attraction mission to Israel in February which created opportunities for economic growth both in New Jersey and Israel. The new data today reflects what we already know 鈥� Israel is increasing investment in our State with our shared focus being on innovation-driven industries.鈥�

鈥淭hese terrific trade results reflect the tremendous effort and personal support of the Governor and his administration; our close collaboration with Choose New Jersey and the New Jersey Economic Development Authority; and our longstanding productive working relationship with our Israeli partners,鈥� said Mark Levenson, Chair of the New Jersey 鈥� Israel Commission. 鈥淭he appropriate investment of the necessary resources and our annual business trips and meetings in Israel have helped achieve these significant results as those who compete with us are neither shy nor do they shrink from pursuing these same opportunities that we are. I am proud to be helping in this effort.鈥�