New Jersey: The Gateway to AI Innovation on the East Coast

By BF Editors
New Jersey has long been a magnet for technology companies, thanks to its abundance of skilled talent, strategic location, and substantial infrastructure investments. The state is now focusing on bolstering its position as a leader in artificial intelligence (AI), positioning itself as a premier destination on the east coast for companies advancing AI.

Key Industry Players and Investment

• Google DeepMind Princeton
• Nvidia
• CoreWeave
• Fiserv
• ADP
• CGI
• NEC
• Tata Communications

These industry leaders are driving AI adoption and innovation in the state, with investments like CoreWeave’s $1.2 billion investment in a state-of-the-art data center at the Northeast Science & Technology Center (NEST) in Kenilworth. This facility highlights New Jersey’s world-class digital infrastructure, providing a backbone for companies to scale their AI solutions.

Repurposed Industrial Space and the NJ AI Hub

CoreWeave’s upcoming data center is a testament to the repurposed industrial space available in New Jersey for growing tech startups. NEST, specifically, offers over two million square feet of existing, purpose-built R&D space. Formerly the world headquarters of Merck, NEST provides a 30-acre level development parcel, offering ample space for expansion as a company’s needs grow.

The development of the NJ AI Hub is a significant step forward in establishing New Jersey as a leader in AI. This collaborative initiative, announced in December 2023, brings together researchers, industry leaders, and startups to advance innovative, ethical applications of AI across industries. The Hub’s objectives include developing a workforce prepared to manage and leverage AI technologies responsibly. Founding partners include Princeton University, Microsoft, CoreWeave, and the New Jersey Economic Development Authority (NJEDA), who have committed to a combined investment of over $72 million to support its long-term success.

Government Support for AI Growth

The state’s government is also playing a crucial role in fostering AI growth. Governor Phil Murphy has established an AI Task Force to explore how AI technologies can stimulate economic growth, create jobs, and enhance workforce training.

• $500 million “Next New Jersey” program: tax incentives for businesses fostering the AI economy
• Training government employees in AI, emphasizing responsible practices

The NJEDA has introduced the “Next New Jersey” program, which provides tax incentives to businesses that foster the AI economy, emphasizing the development of large-scale data centers and related infrastructure. The state is also pioneering in training government employees in AI, ensuring that AI technologies improve efficiency while adhering to responsible practices.

A Strong Foundation in Higher Education

The state’s higher education landscape contributes significantly to the AI ecosystem. Institutions such as Princeton University, Stevens Institute of Technology, and the New Jersey Institute of Technology offer AI-focused research efforts, graduate programs, and partnerships with businesses to develop new technologies.

Examples of AI-focused programs include the Princeton AI Lab, which provides administrative support and resources for nurturing AI research efforts, and the Stevens Institute of Artificial Intelligence. The New Jersey Institute of Technology also offers a Master of Science in AI, empowering the next generation of AI pioneers.

L’Oreal Reinvests in New Jersey

L’Oreal Groupe recently completed the development of its new North America Research & Innovation (R&I) Center located in Clark, NJ, marking a significant milestone in the cosmetic company’s 70-year history in the United States and reaffirming its economic and workforce commitment in the market.

The nearly 250,000-square-foot scientific research center represents a $160 million investment, making it L’Oreal’s largest outside of France. With over 3,000 employees, New Jersey represents L’Oreal’s largest employee footprint in the U.S. The company’s presence in the state now includes two manufacturing facilities, three distribution centers, and three administrative sites.

“The grand opening of our research center in New Jersey represents a transformative new chapter in L’Oreal’s storied history in the United States,” said David Greenberg, CEO of L’Oreal USA and President, North America Zone. “This investment will enable us to pioneer groundbreaking product innovations for American consumers that anticipate global market needs. And we’re not simply creating products; we’re building a prosperous future of economic growth, powered by American talent.”

Building a Future with AI

New Jersey is not just investing in its present; it’s building its future.