(Courtesy of NJIC) The New Jersey-Israel Commission recently released its annual report for Fiscal Year 2023, which details the progression and growth of the Commission over the last year, showcasing significant advancements in bolstering economic, scientific, educational and cultural connections between the State of New Jersey and the State of Israel. This comprehensive report fulfills “the Commission’s mandate to provide findings, recommendations and plans directly to Governor Murphy,” highlighting the remarkable achievements made possible by unwavering support and dedicated teamwork.
Significantly, the report reiterates the strong levels of economic growth being driven to the State’s economy through this key partnership under the Murphy administration and under the leadership of Secretary of State Tahesha Way. Over the past year, New Jersey-Israel bilateral trade and foreign direct investment soared and maintained Israel as one of New Jersey’s most important relationships. This was reflected, as well, in new partnerships and official delegations supported by the Commission.
The report underscores the following key achievements:
Economic prosperity: Bilateral trade between New Jersey and Israel surged to $1.72 billion annually, fostering mutual economic growth. Notably, foreign direct investment reached an impressive $108 million in 2022 alone.
Innovation and academic collaboration: Academic and scientific partnerships have driven innovation, linking academic discoveries to tangible economic opportunities. These collaborations have significantly contributed to New Jersey’s innovation economy.
Cultural enrichment:
The Commission remains committed to nurturing cultural relations through diverse activities and programs, fostering a deeper understanding of shared values between New Jersey and Israel, including through sports and music.
“I am honored to introduce this annual report, which reflects the substantial progress made by the New Jersey-Israel Commission,” said Way. “Under Governor Murphy’s steadfast leadership and a committed team, we have elevated the Commission to new heights, resulting in historic levels of cooperation, achievements, visits, programs, and remarkable economic activity.”
“This report demonstrates the enduring strength of the New Jersey-Israel relationship, which continues to deliver tangible benefits to both New Jersey and Israel,” said Israel Nitzan, acting consul general of Israel in New York. “I thank Governor Murphy and his incredible team for their steadfast support, and am excited to see the business, cultural, scientific and academic ties we are forging continue to flourish going forward.”
“It is clear to see from this report that our partnership with Israel is having a significant positive impact on our state’s economy,” said Mark S. Levenson, co-chair of the New Jersey-Israel Commission. “We will continue to drive even more investment and trade, knowing that this is leading to more jobs and achievements right here in New Jersey.”
“Both Governor Murphy and Secretary Way have remained steadfast supporters of the New Jersey-Israel relationship, which has allowed us to deliver wonderful and exciting opportunities across business, culture, science and academia,” said Karin Elkis, co-chair of the New Jersey-Israel Commission. “I look forward to even more success in the year ahead.”
“The past year will prove to be the highest point in New Jersey’s relations with Israel in history, thanks to the leadership of this Commission and a vision across the Murphy administration to ensure a robust partnership,” said Andrew H. Gross, executive director of the New Jersey-Israel Commission. “Thanks to this dedication and hard work we see jobs, innovation and cultural bonds increasing as a product of this important mission.”
