the staff of the Ridgewood blog
Trenton NJ, Despite claims from Governor Phil Murphy that New Jersey is growing an “innovation economy” the facts clearly say otherwise. A 60% decline in new tech investment places New Jersey at the bottom in mid-2021, with our state landing just 11 of 1,659 deals nationwide.
“Every state on the list but New Jersey has seen at least a double-digit percentage gain in early-stage investment.” New Jersey’s 60% decline was a far cry from the 124% increase in listed states.
At least 11 states have seen early-stage funding more than triple, according to a Crunchbase analysis of U.S. states with $100 million or more in Series A and B investment. Top gainers by percentage, deal count and total investment include New York, Florida, Ohio and Michigan.
Meanwhile, a number of states with sizable tech hubs are seeing smaller investment gains, well below the national average. This includes Texas, Washington and Illinois.
