Northern New Jersey: An Economic Powerhouse
Northern New Jersey is certainly living up to its state motto, “Liberty and Prosperity.” This economically prosperous area is home to the top retail zip code in the United States (Paramus, 07652), which generates more than $6 billion in retail sales annually. It’s financial district in Jersey City has been dubbed “Wall Street West.” The state is also a leader in pharmaceutical, technology and bioscience industries.
New Jersey: Densely Populated with High Income
It may be the 4th smallest state, but New Jersey is the most densely populated. Northern New Jersey is part of the New York metropolitan area with 20.3 million people. Most areas in Northern New Jersey are seeing a surge in population growth, especially around the I-95 corridor, and the suburbs are booming.
The great economy and dense population make New Jersey the second wealthiest state in the U.S. The median household income was $80,088 in 2017, nearly $20,000 higher than the median U.S. household income. Personal income rose 3.2% in 2017, ahead of the U.S. average of 2.6% (adjust for inflation). Northern New Jersey is a prime area for BirthdayPak, which targets affluent women with a disposable income.
Culinary Treasures Abound in Northern New Jersey
Many restaurants partner with BirthdayPak, therefore a vibrant food scene is a must-have in a BirthdayPak hot spot. The state is filled with great places to eat and drink, and 5 of the 8 of Zagat’s top-rated Jersey restaurants are in Northern North Jersey. Forbes also lists 5 Northern New Jersey restaurants Worth Leaving New York City For. And the list surely doesn’t stop there!
Restaurants help power the state’s economy. According to the National Restaurant Association, there were 19,050 eating and drinking establishments and total sales were estimated at 18.1 billion in New Jersey in 2018. Last year, food service jobs totaled 348,300 and provided 8% of employment in the state. That’s expected to grow by 6.9% by 2029.
Northern New Jersey: A Perfect Area for a BirthdayPak Franchise
Northern New Jersey and BirthdayPak are a perfect match. Now, we just need our next successful franchise owner to bring this top-notch gifting program to businesses and consumers so they can celebrate their next birthday with BirthdayPak! For more information, start with these top 10 articles and get a peek into the life of a franchise owner. Connect with us to start the conversation and your new career path!