51 New Jersey Business Stats & Facts For 2025

Here are 51 business stats about New Jersey for 2025.

Basics:

Population: 9,290,841 (US Census 2020)
Population desnity per square mile: 1,263.00
GDP: $799,305 (millions USD)
GDP Per Capita: $86,847
Median household income (in 2022 dollars): $97,126
Real GDP Growth Rate: 1.50%
Total Employment: 5.0m
Unemployment Rate: 3.9%

Rankings

% Share of National Economy: 2.92%
State Economic Growth Rank (out of 50): 10
Population Growth Rank (out of 50): 8
Business Growth Rank (out of 50): 41
State Growth Rank in Employment (out of 50): 25

Biggest Industries In New Jersey By Revenue

1. Drug, Cosmetic & Toiletry Wholesaling: $159.0b
2. Life Insurance & Annuities: $78.9b
3. Automobile Wholesaling: $59.0b
4. TV & Appliance Wholesaling: $48.6b
5. Public Schools: $41.6b
6. Commercial Banking: $39.5b
7. Hospitals: $35.8b
8. New Car Dealers: $35.1b
9. Soft Drink, Baked Goods & Other Grocery Wholesaling: $33.6b
10. Property, Casualty and Direct Insurance: $31.9b

Biggest Employers In New Jersey

1. Amazon.Com, Inc.: 46,000 (0.9%)
2. Wakefern Food Corporation: 40,200 (0.8%)
3. RWJBarnabas Health: 37,000 (0.7%)
4. Hackensack Meridien Health: 36,000 (0.7%)
5. Walmart Inc.: 24,365 (0.5%)
6. United Parcel Service, Inc.: 19,200 (0.4%)
7. The Home Depot, Inc.: 14,690 (0.3%)
8. Bank Of America Corporation: 14,505 (0.3%)
9. Johnson & Johnson: 14,000 (0.3%)
10. Public Service Enterprise Group Incorporated: 12,600 (0.3%)

Small Businesses In New Jersey

Number of Small Businesses 952,029
Percent of bossiness that are small businesses: 99.60%
Number of employees: 1,900,000
Share of Employment: 48.80%
Number of New Businesses In The Past Year: 48,289
Number of Businesses That Closed In The Past Year: 26,040
Net Change In New Businesses: 22,249

Number of Businesses With No Employees: 762,264
Number of Businesses with 1-19 Employees: 168,060
Number of Businesses with 20-499 Employees: 21,705
Share of Businesses Owned By Women: 39.90%
Share of Businesses Owned By Veterans: 3.60%
Share of Hispanic Owned Businesses: 15.90%
Share of Businesses Owned By Racial Minorities: 23.00%

Fortune 500 Companies In New Jersey

Number of Fortune 500 Headquaters: 14
Biggest Company: Johnson & Johnson
Biggest Company Type: Pharmaceuticals
Number of Employees: 152,700
Revenue (in millions): $94,943

Taxes In New Jersey

State Corporate Tax Rate:

• 6.50%
• 7.50%
• 9.00%

State Corporate Tax Rate Brackets:

• $0
• $50,000
• $100,000

State Sales Tax Rate: 6.63%
State Sales Tax Rank (out of 50): 8
Average Local Sales Tax Rate: -0.02%
Max Local Sales Tax Rate: 3.31%
Average Combined Sales Tax Rate: 6.60%
Combined Sales Tax Rank (out of 50): 30

Minimum State Income Tax Rate If You’re Single: 1.00%
Minimum State Income Tax Rate If You’re Married: 1.00%

General New Jersey Population Facts

In civilian labor force, total, percent of population age 16 years+: 65.90%
In civilian labor force, female, percent of population age 16 years+: 60.90%
Share of population which is foreign born: 23.20%
Mean travel time to work (minutes), workers age 16 years+: 31.1

Housing

Number of Housing Units: 3,804,012
Owner-occupied housing unit rate: 63.90%
Median value of owner-occupied housing units: $401,400
Median gross rent per month: $1,577
Households with a computer: 94.50%
Households with a broadband Internet subscription: 90.60%

Education

High school graduate or higher, percent of persons age 25 years+: 90.60%
Bachelor’s degree or higher, percent of persons age 25 years+: 42.30%

Also See

• New Jersey Registered Agent Services
• New Jersey Secretary of State Business Search
• How To Form an LLC In New Jersey
• New Jersey Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_New_Jersey
• https://www.ibisworld.com/united-states/economic-profiles/new-jersey/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-NJ.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/mid-atlantic/new_jersey.htm#eag
• https://www.census.gov/quickfacts/fact/table/NJ,US/PST045223
• https://www.50pros.com/fortune500