The State of New Jersey is deepening its ties with the Jewish State by opening an economic development office in Tel Aviv.
Peres & Associates Global Advisory, a leader in creating global connections to the Israeli innovation ecosystem, will head the New Jersey Israel Center, which received a grant for the project from the New Jersey-Israel Commission, part of the New Jersey Department of State.
The new center aims to grow commercial, academic and cultural collaborations with Israel and support Israeli businesses looking to expand to New Jersey.
Recent expansion to New Jersey has included Israeli companies such as Teva Pharmaceuticals, Bluevine, Kernit Digital and OwnBackup.
“Choose New Jersey,” the state’s leading nonprofit economic development organization, announced the official opening of the new office this week.
At present, New Jersey and Israel see approximately $1.7 billion in trade annually.
“The opening of the New Jersey Israel Center is the result of a special bond between New Jersey and the state of Israel,” Governor Phil Murphy said in a statement.
“Through numerous trade missions to Israel and continued engagement with Israeli businesses, universities, and government, we have strengthened our shared cultural and economic ties.
“New Jersey offers an incomparable suite of opportunities, and we are eager to support Israeli businesses looking to expand to the United States. The New Jersey Israel Center is another significant link connecting us that will allow for sustained economic growth and easier business between our states,” he added.