The state of New Jersey has a very strong economy as it has a per capita gross domestic product of $54,699, which ranks second in the United States of America. The state’s economy is home to a diverse range of industries that furnish jobs for residents of New Jersey and surrounding states. The major industries of the state include the pharmaceutical industry, the financial industry, chemical development, telecommunications, food processing, electric equipment, printing and publishing and tourism. New Jersey is also home to a number of agricultural outputs as it ranks second in the United Sates in blueberry production, third in cranberries and spinach and fourth in bell peppers, peaches and head lettuce. Large corporations that have their headquarters in New Jersey bolster all of the industries that drive the economy for New Jersey.
Major Companies in New Jersey by Industry
- Johnson and Johnson – Headquartered in New Brunswick, Johnson and Johnson was ranked 40th on the 2011 Fortune 500 list. The Johnson brothers, Robert, James and Edward, founded the company in 1886. They were inspired by a speech by antiseptic advocate Joseph Lister and created ready-to-use surgical dressings in 1885. The company was officially incorporated in 1887. Johnson and Johnson creates well-known consumer brands such as Tylenol, Band-Aids, Benadryl and Sudafed among others. The company is a leader in corporate responsibility, consistently ranks at the top of Harris Interactive’s National Corporate Reputation Survey, and is ranked the world’s most respected company by Barron’s Magazine.
- Medco Health Solutions – Originally operating as a partnership with Merck after being founded in 1983 by Martin Wygod and acquired by Merck in 1993, Medco Health Solutions became an independent company in 2003 headquartered in Franklin Lakes. It is a pharmacy benefits management company, providing information technology solutions for pharmacy operations.
- Merck – This pharmaceutical company is based in Whitehouse Station and was founded in 1891 as a subsidiary of Merck KGaA. It was established as an independent company in 1917. Merck was one of the first pharmaceutical companies to offer patient assistance programs for people unable to afford their medications.
- Prudential Financial – Founded in Newark in 1875 as The Widows and Orphans and Friendly Society by future United States Senator John F. Dryden. The company originally sold one product, burial insurance. It has since evolved as a company and offers services in the areas of life insurance, annuities, mutual funds, pension- and retirement-related investments, administration and asset management, securities brokerage services, and commercial and residential real estate.
- Verizon Wireless – Verizon Wireless is officially known as the Cellco Partnership as it is a joint venture between Verizon Telecommunications and the Vodafone Group. It was established in 2000 and is headquartered in Basking Ridge. The company came about as the result of various mergers and corporate shifts between telecommunications companies. It is currently the nation’s largest wireless communications provider due to its acquisition of Alltell Wireless in 2009 for a deal valued at $28.1 billion.