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Reinventing the New Jersey Economy: New Metropolitan and Regional Employment Dynamics

Rutgers University has made this article freely available. Please share how this access benefits you. Terms of Use: Copyright for scholarly resources published in RUcore is retained by the copyright holder. By virtue of its appearance in this open access medium, you are free to use this resource, with proper attribution, in educational and other non-commercial settings. Other uses, such as reproduction or republication, may require the permission of the copyright holder. 2 Rutgers Regional Report geography was fundamentally reconstituted. By the year 2000, New Jersey's total employment base was 7 percent larger than that of New York City. In the final two decades of this 50-year period, the state served as a powerful regional economic locomotive, led by its burgeoning office markets that were largely concentrated in highway-oriented suburban growth corridors. 1 New Jersey became the most efficient and cost-competitive place for doing postindustrial business in the broad metropolitan region. Jersey's employment base grew to be 13 percent larger than New York's. But this may have been a major inflection point as new spatial patterns revealed themselves. During the brief 2003–2007 national employment expansion, New York City emerged as the driving economic force in the region, adding approximately twice the number of jobs as New Jersey. By 2007, New Jersey's job employment base was virtually the same size as that of New York City. By 2011, its employment base was just 2 percent larger—the same relative advantage as it had in 1989, 22 years earlier. It appears that new regional dynamics are now at work, along with a new geographic reordering. 2 Has a half-century-long trend been fundamentally reversed? Are locational preferences and protocols fundamentally changing? What is the new dynamic crest of the wave? These concerns are vitally important to the future of the New Jersey economy and its ability to adapt to the new forces at work.