New State Office for Foreign Business Development Announced

New Jersey's second-in-command was in Parsippany Monday to announce the Christie Administration’s new Office of International Business Development and Protocol.

With the governor out of state this week, Lt. Gov. Kim Guadagno is acting governor for the time being. One of her official acts was to visit Evonik Degussa Corporation at 379 Interpace Pkwy. in the township to explain how a new global business development office will benefit the state.

“As foreign companies consider investing beyond their home countries, they look to business-friendly environments with diverse business communities," said Guadagno. "From our highly educated workforce and thriving industry clusters to our world-class intermodal transportation system supporting a gateway to international markets, New Jersey is well positioned to promote our assets, increase foreign direct investment and increase opportunities for New Jersey businesses to maximize exports.”

Foreign companies seek to invest in areas that support innovation, are close to other global firms, provide access to markets and offer a world-class workforce, the acting governor explained. She said the new office will leverage the state’s advantages in these areas to attract foreign investment, expand New Jersey’s partner network to improve lead development, and increase export opportunities for New Jersey’s businesses.

The new Office of International Business Development and Protocol is part of the Department of State’s Business Action Center, which is part of the state’s Partnership for Action. Led by Guadagno, the PFA is a three-pronged public-private approach to economic development.

She said the PFA is the starting point for all initiatives, policies and efforts to grow New Jersey’s economy and to create quality, sustainable jobs. The PFA consists of the Business Action Center, which serves the business community as a one-stop-shop; the Economic Development Authority, the state’s “bank for business”; and Choose New Jersey, Inc., an independently funded and operated nonprofit created to market the state as an ideal location for business.

The office will concentrate its outreach efforts on New Jersey’s top investor nations–Germany, Switzerland, Japan, France, the United Kingdom, the Netherlands and Canada, as well as countries where New Jersey enjoys rich relationships, such as Taiwan, India, Korea and Israel, Guadagno said.

Director Eddy Mayen will head the new office, she added, noting that he will be responsible for managing efforts to attract foreign direct investment and promote export activities, while establishing and maintaining positive working relationships with the foreign business investment community.

The Christie Administration currently has 21 new foreign investment projects underway. Bayer HealthCare (Germany), Schar (Italy), Ferring International Pharmascience (Switzerland), Padtech (Norway) and Archimedes Pharma (United Kingdom) are just a few of the internationally based companies that have recently invested in the Garden State. These projects, according to Guadagno, expect to bring $1.6 billion in capital investment to the state while creating more than 1,800 new New Jersey jobs.