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Find Out More About the Central New Jersey Economy & Job Market
"Somerset, Hunterdon, and Middlesex, NJ
Counties will be among New Jersey's strongest employment growth areas this
year, powering a statewide job recovery that should last into the next
century." - Rutgers University forecast, July 1997
Facts about the New Jersey
Economy
- New Jersey is the 8th largest state
economy.
- New Jersey is now the eighth largest
exporting state.
- There are 60 million consumers within a
250-mile radius of New Jersey.
- In 2000, 12 of 33 FDA-approved drugs were
credited to New Jersey based pharmaceutical companies.
- New Jersey has 55 colleges and
universities, including Princeton and Rutgers Universities and The New Jersey
Institute of Technology.
- Somerset County had an unemployment rate
of 2.1% in 2000 as compared to a nationwide rate of 5.8%
- More than 20 Fortune 500 companies are
headquartered in New Jersey.
- The national headquarters for Fortune 500
companies, AT&T and Johnson & Johnson, are both located in Central New
Jersey.
Central New Jersey's Top
20 Employers
| 1. |
AT&T (National Headquarters) |
Telecommunications |
Somerset, Hunterdon, Middlesex &Union Counties |
23,000 |
| 2. |
Lucent Technology Equipment |
Telecommunications |
Warren, Berkeley Heights, New Providence, Bernards |
16,500 |
| 3. |
Johnson&Johnson (National Headquarters) |
Pharmaceuticals & Healthcare Products |
Bridgewater, Raritan Borough, Montgomery, North Brunswick,
Warren |
11,000 |
| 4. |
Rutgers University |
Education |
New Brunswick, Piscataway |
8,403 |
| 5. |
Merck & Co. |
Pharmaceutical |
Readington, Franklin, Woodbridge, Rahway |
7,403 |
| 6. |
Schering Plough |
Pharmaceutical |
Bernards, Union, Kenilworth |
5,670 |
| 7. |
Telcordia |
Telecommunications |
Piscataway |
5,022 |
| 8. |
University of Medicine and Dentistry of NJ |
Education |
New Brunswick, Piscatatway |
4,391 |
| 9. |
Merrill Lynch |
Financial |
Franklin, Piscataway, Somerville, Westfield |
3,831 |
| 10. |
R.W. Johnson University Hospital |
Medical |
New Brunswick |
3,574 |
| 11. |
Chubb & Son, Inc. |
Insurance |
Warren, Branchburg, Bridgewater, New Providence |
3,000 |
| 12. |
St. Peter's University Hospital |
Medical |
New Brunswick |
2,702 |
| 13. |
Overlook Hospital |
Medical |
Summit |
2,700 |
| 14. |
Bristol-Myers Squibb |
Pharmaceuticals |
New Brunswick |
2,200 |
| 15. |
MetLife |
Insurance |
Somerset, Hunterdon Counties |
2,000 |
| 16. |
Foster Wheeler |
Construction |
Clinton, Union, Lebanon |
1,999 |
| 17. |
Somerset Medical Center |
Medical |
Somerville |
1,712 |
| 18. |
Hunterdon Healthcare System |
Medical |
Raritan Borough |
1,700 |
| 19. |
Novarits |
Pharmaceutical |
Summit |
1,450 |
| 20. |
Solaris Health Systems (Muhlenberg) |
Medical |
Plainfield |
1,450 |
Request our Free Bridgewater, Basking Ridge and Somerset County Relocation Package. It's packed full of useful and important information about the Bridgewater, Basking Ridge and Somerset County, New Jersey area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out... 
Foreclosures >1. What Is a Foreclosure?
A foreclosure is a legal process through which a mortgagor loses his or her equitable right to redeem a mortgaged estate; in other words, the lender completely repossesses the home from the borrower (homeowner.) The lender goes through the legal motions to sell the property, terminate all the homeowner’s rights in that property, and remove the homeowner.
What are the effects?
- The most stressful and pressing effect that foreclosure has is that the borrower loses his or her place to live.
- Foreclosure negatively affects the borrower’s credit rating. It stays on a credit report for seven years and drops a credit score 250 points.
- A borrower who’s been foreclosed on may have trouble finding and keeping jobs since good credit may be required by employers to be hired.
- A foreclosed home can bring down the value of surrounding homes.
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| Q |
Which home is #1 on the Top 10 list for most-visited Historic Home in the United States?
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| A |
Graceland, the palatial home of Elvis Presley in Memphis, TN, attracts 600,000 visitors a year. |
See More Real Estate Trivia > |
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