Manufacturing In New Jersey breaks down into three major industries: the chemical industry, the computer and electronics, and food, beverage & tobacco industry. The latter becoming a huge contender to surpass the chemical industry in many areas as we’ll explore next.
A thriving industry worth $104 billion, the food manufacturing industry is expanding at a whole new pace. Around 1900 food manufacturing companies currently employ a total of 44,000 people. A few of the best-known in the state are Campbell Soups, Arizona Brewing Company, and Goya Foods.
When the world’s largest producer of soups agreed to buy Bolthouse Farms for about $1.55 billion, it sent ripples across the state. Expanding its footprints in the soup business, the company also decided to go into a strategic partnership with Chef’d, an e-commerce meal marketplace. President and Chief Executive Officer at Campbell Soup Company, Denise Morrison said “E-commerce will transform the food industry in similar ways to how it transformed entertainment and apparel. It is a game changer for consumers, food makers and retailers alike.”
To expand operations in the state, the Arizona Brewing Company received a monetary award to construct a new 559,915-square-foot manufacturing facility adjacent to its current facility. The ongoing operations of Arizona brewing company include the employment of 197 people and with the help of this expansion it will be able to boost its employment total to 300 people. Lt. Gov. Kim Guadagno said “This new project will create 100 new jobs, which demonstrates why our state’s unemployment rate is down to 5.1 percent today. This improvement is evidence of our commitment to working with businesses like Arizona Iced Tea, and we applaud their continued growth in New Jersey”.
Goya foods is the largest Hispanic food company in the U.S. with great news for New Jersey. The company is opening a state-of-the-art and sustainable corporate headquarters as part of its $500 million global expansion plan over the last ten years. The new expansion plan will create 100 new jobs. The company has invested $250 million in the state and has been a stellar member of the business community since 1974.