From NJBIZ:
Report offers optimistic take on N.J.’s manufacturing industry
Contrary to public opinion and personal anecdotes regarding the New Jersey manufacturing hub of yesteryear, the manufacturing industry continues to play a vital role on the state’s economy, according to a report by the New Jersey Policy Research Organization Foundation, an affiliate of the New Jersey Business & Industry Association.
Just in time for New Jersey Manufacturing Week, which runs from Monday through Friday, NJPRO Chairman John Rogers stated: “Manufacturing continues to be a strong economic force, providing well-paying jobs and driving exports of American-made goods. What’s more, the health of New Jersey’s manufacturing sector fares pretty well when compared to that of other states’.”
The report offers a close examination of the manufacturing industry of New Jersey in 2015, including the number of manufacturing facilities as broken down by county, a 10-year outlook for manufacturing employment and a breakdown of manufacturers by business type.
According to the report, New Jersey manufacturers directly employed 247,200 individuals as of July 2015.
…
“The industry has consistently played a vital role in the state’s economy and has further solidified New Jersey’s position as a global hub for manufacturing,” the report states. “It is important to note that when comparing states, one must consider their sizable differences — e.g., economy, square mileage and population — to accurately gauge how well their industries are performing. Considering these factors, New Jersey still outperforms the majority of states and fares well against its competition.”Even the employee compensation in New Jersey is superlative: According to the report, advanced manufacturing employees make on average nearly $100,000 per year, which ranks New Jersey as the fifth-best state for compensation.
…
With the report finding that New Jersey ranked 15th in manufacturing output, making $45 billion in products in 2013, and 13th in goods exported, by selling more than $32 billion in 2014, she added:“New Jersey manufacturers excel through efficiency and expertise. Technological advances, ‘lean’ manufacturing processes and increasingly sophisticated operations are all areas where New Jersey manufacturers as a group excel.”
Told you boys, don’t sleep on jersey.
“The industry has consistently played a vital role in the state’s economy and has further solidified New Jersey’s position as a global hub for manufacturing,” the report states. “It is important to note that when comparing states, one must consider their sizable differences — e.g., economy, square mileage and population — to accurately gauge how well their industries are performing. Considering these factors, New Jersey still outperforms the majority of states and fares well against its competition.”
Said it before, most people drive down the turnpike and see nothing but dirty.
I see dollars, billions and billions of dollars.
Do the jobs at those factories pay $300k/yr?
I think we’ve established here on the blog that’s a middle class salary in NJ right?
Everything has a pro and a con. What makes Jersey so expensive to live here? The real estate pricing. What they leave out of the equation is how that value does not go down over time, but goes up. Compare that to the south where you are basically buying a car every 15 years, since the land is worthless and the house depreciates over the years. So who really is paying more here in the long run? Nj is high upfront costs, but great long-term costs. Most people in nj can retire because of their home, many places can’t say this. It’s good to be in a valuable land location, where there is no more good land left to develop.
D-FENS says:
October 3, 2015 at 8:37 am
Do the jobs at those factories pay $300k/yr?
I think we’ve established here on the blog that’s a middle class salary in NJ right?
4- And yes, there are some jobs at these factories that pay 300,000.
Average 100k a year? 12 hours a day 7 days a week?
This concept of houses depreciating in the south, and not in NJ is faulty. Does Case-Schiller back up this hypothesis? Do you really think that in the south, with the fastest growing economies and populations in the US, there is no such thing as good locations or neighborhoods? The blind NJ chauvinism is showing.
I agree that NJ has both high up front costs coupled with high ongoing costs. Pumpkin probably meant to say benefits. But the benefits to productive people have little to do with the high costs of government.
So much misinformation and ignorance. So little time.
I’m in Texas usually 3-4 times a year, Austin and San Antonio primarily, sometimes DFW. I’ve got a bunch of friends there, who continually try to convince me to move, probably 5x as many regular business colleagues. Buy in an “affordable” new subdivision in these areas and in 7 years you’ll regret it. If you buy in the top end areas, you’ll do fine, but we are talking about $500-600k+ in most of these “good neighborhoods”, no different from here. There are very different market subdivisions than in the Northeast. You have the old established metros, usually located near downtown. You have the high-end subdivisions, usually clustered. These are prime areas.
…And then you have a massive machine of low and midrange new construction, where tracts are built THOUSANDS of identical houses at a time. Like a massive machine moving over the vacant landscape, shitting out identical houses like turds as it consumes.
The homogeneity of this stock makes it infinitely comparable to other properties and very much creates a “race to the bottom” pricing. When you have 27 of the EXACT SAME HOUSE for sale in the same subdivision, which houses get sold? This is very different from up in the Northeast, where you have significant variation in housing stock, neighborhoods, even on a street to street level. In many cases buyer preference is a huge benefit to sellers, as it allows for much more differentiation and less comparison.
Everyone likes to point to the $200k new construction in Texas and oogle over it in comparison. The cost to build a house is roughly the same, give or take, the only way that those houses can be sold at those prices is that the land is essentially worthless.
Maybe in 20 years, that changes. Who knows. But today, buying a $250k tract subdivision in a Texas exurb, I wouldn’t expect to sell it for $600k in 20 years. I admit that I might be wildly wrong, after all most of the NJ suburbs were exurbs 50 years ago too.
Here you go, good neighborhood of Dallas. No problems with resale on this one. If you are drawn to areas like Short Hills, Summit, Westfield, Saddle River, you’ll be very happy here. Ready to renovate.
http://www.zillow.com/homedetails/4601-Lorraine-Ave-Dallas-TX-75209/27202936_zpid/
Or if “weird” Austin is more your style, this hip pad right up your alley in a killer neighborhood:
http://www.zillow.com/homedetails/2610-Fiset-Dr-Austin-TX-78731/29411264_zpid/
11- Look at their taxes. Jersey just pays so much more in taxes, right? This is Texas, right? Nj pays the highest property taxes on avg for a reason. It has a lot of valuable areas.
$13,000 property taxes on the Dallas, $11,000 on the Austin, NJ residents should feel right at home.
God dammit, just spit my coffee all over my monitor. News 12 in the background, said that Obama ordered flags to be flown at half shaft.
20,000 in taxes. 800k price range.
See what I found on #Zillow!
http://www.zillow.com/homedetails/26695532_zpid
According to the report, advanced manufacturing employees make on average nearly $100,000 per year, which ranks New Jersey as the fifth-best state for compensation.
I can’t even muster the laughter.
Which $100,000 per year job should I apply for?
http://www.indeed.com/q-Manufacturing-l-New-Jersey-jobs.html
Texas = The entire southern US?
grim (10)-
And the problem in the South is, those suburban tract home paradises quickly become exurban slums. Limitless amounts of vacant land and lax zoning are helping turn much of Amerika into Breaking Bad.
“…And then you have a massive machine of low and midrange new construction, where tracts are built THOUSANDS of identical houses at a time. Like a massive machine moving over the vacant landscape, shitting out identical houses like turds as it consumes.”
Dfens (18)-
Texas should be treated as a separate nation.
“Texas = The entire southern US?”
Texas should be a separate nation.
Check out this article from USA TODAY:
America’s richest (and poorest) school districts
http://usat.ly/1La1Oih
Same rules apply everywhere else there is large scale tract development that is the primary driver for real estate growth.
Look at any of these cities, the areas that have fared the best in nearly every case are the inner ring suburbs that are of varied neighborhood and varied housing stock. Generally in areas where there is mixed zoning as well.
In these huge tract developments, if things go south, there is ZERO chance at recovery or gentrification. You would be an idiot to tear down or significantly remodel these homes. Doesn’t matter, because nobody does it (save for maybe a kitchen or bath upgrade if you went in bare bones). Infill is impossible with 4000 square foot lots. New employers? Where would you put them when you have 5000 home developments right next to each other for miles?
Going in at the “affordable” price point pretty much guarantees that at resale time, there will be a massive influx of lower socioeconomic buyers. Trying to say this as politically correct as possible, lest I be Trump.
#17 See Director of Continuous Improvement.
http://careers.peopleclick.com/careerscp/client_covanta/external/gateway.do?functionName=viewFromLink&jobPostId=10330&localeCode=en-us&source=Indeed.com&sourceType=PREMIUM_POST_SITE
I’m closing on my sale/purchase in approximately 3 weeks. I still can’t believe made the plunge after talking about it for so long. It took that long to find a house and not another sh1t split that had the aroma of wet p1ss dog. And I’ll wait until after the closing(s) to tell you the tidbits that have reinforced my endearing “l0ve” for the housing syndicate.
[24],
I saw it earlier. What’s your point?
Cost per student in NJ. Even the poorest district in NJ spend close to that
http://csinj.org/schoolspending/
#26 This job came up in the $100,000 range. Lotsa dough for a job that sounds made up.
House washed into bay just off North Wildwood.
https://twitter.com/tedgreenbergNBC/status/650295297915133952
Pumkin, one big thing to keep your NJ RE pumpinator running is immigrants. If the rules lock up the nation against immigration, the NJ Real Estate Pumpinator Machine that you believe in will stop, and will go into full upstate NY mode.
I’m looking around in my fancy falooting Bergen town and the people I see jumping at full speed into the pumpinator (apart from the speculators) are all immigrants and multi-generational.
Pumpkin make sure the Trumpinator or someone with heave closed the borders, shred those H1B,H2B,etc gets into office.
24 etc. Sounds made up? How many words can one use to say absolutely nothing. Includes nearly every piece of corporate speak though. Sounds more like a Dilbert cartoon.
Proceed with caution. Directors of “sh1t that doesn’t make sense” with corporate wide reporting lines are usually the first against the wall when the cuts come in the down cycles.
By the way, any one saw this week’s new episode of South Park.
South Park gentrifies with the new neighborhood of SODO SOPA.
The episode is one gigantic spoof on RE.
U.S. companies announced 205,759 job cuts during the third quarter, the most since the third quarter of 2009
http://www.marketwatch.com/story/companies-are-cutting-jobs-and-buying-back-stock-at-the-same-time-2015-10-02?link=MW_popular
Surfs up big time in ac. Increasinga lot hour by hour. Hurricane not even close yet. Wonder what it will look like next day or so. Would post but don’t know how to do mobile photos.
Separately I think I may move here. Four full days so far and I haven’t paid a dime for shelter or food. Double windows on the Atlantic. My business is 80pc remote. I could seriously make it work. Doesn’t sukc having a mortons downstairs either. Except for my hdl.
The Villas at Kenny’s House in SodoSopa “South of Downtown South Park” with views of Historic Kenny’s House, with a Whole Foods coming (not confirmed).
Hilarious they lampooned all the tricks to sell crappy cardboard condos in those developments.
Mr. Hankey is still my favorite SP character.
reality won’t always fit your agenda. you know that
Ragnar says:
October 3, 2015 at 9:26 am
This concept of houses depreciating in the south, and not in NJ is faulty. Does Case-Schiller back up this hypothesis?
that’s how they finance their stock buybacks
yome says:
October 3, 2015 at 1:18 pm
U.S. companies announced 205,759 job cuts during the third quarter, the most since the third
#22 Hi Pumpkin, you want a real mind blower, Kiryas Joel, NY spends 140K per student for 1 year
In the town every child is special needs too. So 140K per year for school. Every child. That’s a pretty big school budget. Good news is they are expanding the town to build a lot more homes.
Grim your assessment of the South is spot on. If your in a wealthy subdivision you will get something out of it, or an established downtown that has old world charm. There is a lot in between.
TX and NH have very high property tax. That would make a lot of sense because they have no income tax. So they get it from another pocket.
25 Gary,
Can’t wait for the juicy stories.
Mountain lakes 23k, Mendham 20k.
Delbarton Tuition for the 2015-16 academic year is $35,500.00 .
Those other schools are not bad and yet much less.
What you are paying for is privilege.
It’s paying to disassociate from the general public.
Segregation has it’s costs…..
it would seem that thers plenty of those making $300,000
phoenix says:
October 3, 2015 at 3:02 pm
Mountain lakes 23k, Mendham 20k.
Delbarton Tuition for the 2015-16 academic year is $35,500.00
the Taxpayers Guide reports that Asbury Park spent $29,819 per student in 2010, compared to the $26,782 proclaimed by the revised User-Friendly Budget, but the 2010 audit of Asbury Park revealed spending to be more than $39,000 per student. This is not just a problem in our urban districts, as evidenced by the fact Sea Isle City spent $40,000 per student in 2010, according to their audit. That is more than $14,000 greater than the Taxpayers’ Guide and $7,400 more per student than in their revised User-Friendly Budget.
http://csinj.org/schoolspending/
KImberly Academy 35,900 per year for HS. But still not 140k per student in Kiryas Joel.
re # 46 – Marilyn the State of NY allowed them to build that special needs school and district when they broke off from Monroe over 20 years ago, the school exists mainly because of all of the kids with disabilities, many of their kids have genetic related issues do to inbreeding. I actually feel sorry for them. They reject enlightenment in any form and prefer to live with a belief system from the 17th century, they basically attempt to live in a time in history when religious education and mysticism was highly valued, which is just not the case so much anymore. They basically skipped the the Age of Enlightenment in Europe, ended up on our shores and continue to attempt to live that way to this day. I could go on but I do feel badly for them, so I won’t.
Arm the children.
http://www.cnn.com/2015/10/03/politics/donald-trump-oregon-shooting-armed-teachers/index.html
If housing is an expense, people may be better off buying low, selling for the same price, and putting their savings into other assets more promising than real estate.
Given that house was in the center of the major city of Dallas, presumably with good schools, a great deal compared to Manhattan. How much would +2000sf and a good school cost there?
When I retire to some place, likely in the south, I will buy in an expensive area to ensure I don’t have to live near retired NJ/NY civil servants.
On South Park, loved the PC hypocrisy. SodoSopa. Historic Kenny’s house providing the mix for the incomes. Inspiring Camden’s new developments.
But I have so mention, my town is getting a Whole Foods to go along with our existing Wegmans. So I guess my home’s value is set to soar.
Juice, KJ is so weird. I don’t feel badly for them. This is what happens to people who reject reason and reality. Living in a fantasy world at taxpayer expense.
the Taxpayers Guide reports that Asbury Park spent $29,819 per student in 2010, compared to the $26,782 proclaimed by the revised User-Friendly Budget, but the 2010 audit of Asbury Park revealed spending to be more than $39,000 per student. This is not just a problem in our urban districts, as evidenced by the fact Sea Isle City spent $40,000 per student in 2010, according to their audit. That is more than $14,000 greater than the Taxpayers’ Guide and $7,400 more per student than in their revised User-Friendly Budget.
It’s the abbot districts. They need to be dealt with. The supreme court rules that you have to throw god knows how much money at them with no over site at all. The teachers end up being the lowest paid and no money makes it into the classroom. I knew a science teacher who taught in an abbot. His equipment budget was $150. Meanwhile, they supposedly were spending $25k per student. It all goes to admin, consultants, and politically connected construction firms. They are siphoning the money off.
48 –
Arm the Teachers or make all firearms illegal. You still have the whack-jobs running around who find murder on a massive scale an acceptable course of action for:
– Acquiring Fame,
– Revenge for Bullying,
– Political Statements,
– Religious Beliefs,
– Anti-Religious Sentiment,
– Relationship Breakups,
– or just simply because their bat$hit-crazy.
I don’t think either solution will fix the problem. We no longer see our fellow citizens as brothers or sisters or as having intrinsic and innate value. Our media teaches us to fear our neighbors and our politics keeps us divided into “us” and “them”. The basic premise of moral truths, even when separated from religion, has become lost upon us.
And if not to muddy the equation even further we have individuals who are terribly broken and disturbed roaming around unchecked… enabled by others who (I argue selfishly) refuse to acknowledge or accept the danger they pose, whatever their reason may be.
How can we expect incidents like this to stop when people can no longer see past themselves and understand that some lines cannot be crossed? Until such a time when human life is again regarded with value, and not the fake political “value”, but actual moral value… nothing will change.
So when given the choice between surrendering a guaranteed natural right for a slight possibility of increased (or perhaps just perceived) safety… my choice is unfortunately clear.
#49….they can afford to buy in expensive areas too……
[53] buyer,
I blame the president. There is no question he has been divisive. Even in this debate, I am on “the other side.” Goes nicely with his “enemies” comment some years back. So is it not reasonable to conclude that the uptick in shootings, which coincides with his presidency, is his fault?
This correlation is every bit as legit as arguments raised by the left that argue correlation=causation! including the argument that the Assault Weapons Ban sunset was to blame. In fact it’s more since the Vast majority of the shootings didn’t involve assault weapons (I can only recall one).
Thus, insofar as correlation as cause is accepted by the left, they must acknowledge that Obama bears some responsibility for these killings.
53. HB
With you all the way except to the conclusion. If the premise is essentially the problem can not be fixed I feel much more safe with the vast majority of the (sane) populace having a weapon rather than none.
More deeply to your point this country is fractured and not getting better. Regardless of the waves of immigration a common factor was that those with differences in this country desired to migrate to a middle norm – to become ‘American’. They left most of what made them distinctive behind, often contributing something that became woven into the fabric of what it meant to be ‘American’.
The new norm is that fracturing is desirable and the norm of being ‘American’ is not. A country cannot prosper, likely even survive, as a disparate group of 310 million individuals many of whom despise what is supposed to be binding them together.
another deadly gas explosion in nyc last night. 10+ dead now over three recent incidents.
ban natural gas in apartment buildings, please.
Ban nat gas?
Now that induction is mainstream, electric isn’t so bad for cooking anymore. High-end ovens are all electric now anyway. It’s not so far fetched. Fireplace seems wildly out of place in an apartment anyhow.
Major beach erosion from the storm. If we hadn’t had the sand replenishment this past summer the new cabanas built after Sandy would have been washed out to sea. If Joaquin had made it’s way here it would have been lights out.
re # 57 – took the stove and left the gas running?
http://www.nydailynews.com/new-york/brooklyn-building-facade-torn-massive-explosion-article-1.2384121
MSM BS This Morn
Meet the Press:
Had a clip from the father of the shooter. He is ‘dumbfounded’ that his son could acquire 13 weapons and believes that gun control should be in place to prevent such occurrences. Hey, d-bag, how about your culpability in not being around for the kid, ever, from early childhood years through whatever drove him crazy? Sounds to me as his parent in-absentia you bear more responsibility than my society’s regulations.
They also threw up stats for the gunshot homicide rate of US relative to other countries. We are 4x the number of Switzerland. Aside that Switzerland, despite the French and German sides, is a homogenous society with little Swiss-on-Swiss violence to begin with they ignore gun ownership rates. Gun ownership rates in Switzerland has to be through the roof. Military service is mandatory and each male has a weapon. Stats, damn stats, and lies.
” Hey, d-bag, how about your culpability in not being around for the kid, ever, from early childhood years through whatever drove him crazy?”
Could be a million legitimate reasons why he could not be there. I have seen parents that thanks to the wonderful justice system we have (sarcasm) that total lies with ABSOLUTELY NO EVIDENCE can be enough for someone to not see their children. It’s a game for lawyers and the courts. Once again, it’s not the children, it’s the ADULTS that act worse than the children ever did. Greed will get you every time. You reap what you sow.
Agree mostly.
If he were wronged by the justice system here on custody then call them out – “had I the opportunity to be with my son perhaps this wouldn’t have happened”.
Otherwise it sounds like a handwashing to me. I just finished a three year divorce this summer. I am embarrassed to say what I spent on legal and expert fees. But I did end up with 50% joint custody.
It can be done and if for some reason in his case he really wanted to be with his kid and he was scr3wed, trust me that would be your go to place, not “it is the lack of gun control”.
“You reap what you sow.”
I believe in karma too. And when it hits my ex it will not be pretty. She has a pretty big payable there…..
The Oregon Shooter was 17 when the parents got divorced, the wife the gun nut nurse said kid had aspergers. Got to wonder what mom was trying to do by teaching him to shoot and arming him.
Thinking about doing single family high end rentals again.
Tenants that rent Duplex and/or Triplex units from me are mostly trash here in Warren county (I did have some good ones, though, including two that paid a year’s rent cash in advance – their houses burned down and were being rebuilt). Starting eviction paperwork tomorrow re: two units.
I knew when I saw a couple of brand new $50,000 SUVs the rent wasn’t going to be coming on time…or, at all, damn. Oh well, they’re going to be OUT and I’ll have a month and a half to re-rent the apartments before taking a loss.
Guess they’d rather live in a truck at the local Walmart parking lot.
Glad I did month-to-month, no section 8 and the Judge here is pro-landlord.
‘Fog-a-mirror’ car loans are worse than those mortgages back in the day – TOO EASY for the feeble minded and/or lazy.
*How can a hairdresser get a loan for a top of the line SUV with no money down? Ridiculous. Now I gotta spend $50 and a few hours teaching them a lesson about financial responsibility/reality.
Back to high end stuff. Yeah, margin is lower but the tenant quality is higher and rent is usually not an issue.
– Done venting.
Blowing out my sprinkers today. Chipmunks made another nest under my brick patio, last time I had to dig out a few square feet of brick to clear out the nest. Joys of home ownership, might be time to get a cat.
#55 – Comrade…blame Obama for the uptick in mass shootings? His rhetoric is responsible?
Why don’t you just say what is really on your mind. Stop all the veiled BS and get down to your real feelings and fears.
59
Oh no not the cabana’s!! ;-)
Check out this article from USA TODAY:
Bernanke: More execs should have gone to jail
http://usat.ly/1Lc3Xdz
I wonder what the stats on gun violence would be if they compared whites in US to whites in Switzerland. When whites kill people with guns the narrative becomes gun control. When minorities kill with guns the story becomes the failure of societype to nurture the less fortunate.
NJT,
I saw a presentation on car loans recently. People are more willing to make car and card payments than home payments. Now days the average car loan term is over 60 months.
#66….i think you can be more lax on car loans, almost 100% ability to recover the vehicle….any down payment and monthly payments are lost.
[68] realtor
The correlation is undeniable therefore, in the logic of the left, causation is likewise undeniable. You, who have argued correlation=causation, must recognize that.
And your attempt at deflection falls short. I fear little and nothing from this president, who has boosted my wealth by creating strife and division.
Comrade,
Anything the government does (save reducing it’s scope and authority) will boost your opportunities to increase your wealth. R or D
Did the Bush Jr, Bush Sr, or Reagan presidencies decrease your wealth?
[75] Joyce
While my worth increased exponentially under Bush2, it happened because of laws and policies planted by Clinton and Carter. In fact, the GOP presidents were worse foru industries but did improve my tax situation.
[71] rags
Something that caused head explosions on the left: a Harvard study that went off script
http://www.bostonmagazine.com/news/blog/2013/08/30/harvard-gun-study-no-decrease-in-violence-with-ban/#.Vg3AOVeWXv8.facebook
Non rhetorical
Comrade, did bush do anything (even feign interest verbally) at repealing those laws or regulations?
I QUIT CHUBB! Glory, hallelujah.
New website for everyone to bookmark.
http://contrakrugman.com/
D [80];
Rebutting Krugman is a lifelong task, for far more than one person.
https://twitter.com/freddoso/status/650861748090638336