Choose New Jersey, the Garden State’s leading nonprofit businesses attraction organization, recently announced that it facilitated a sister state Memorandum of Understanding (MOU) between the State of New Jersey and the Province of Ontario. The deal was made as part of Choose New Jersey’s Governor-led economic mission to Canada.
The MOU is a renewed commitment between New Jersey and Ontario, which builds upon the 2005 MOU that was signed in Princeton, New Jersey. The agreement focuses on economic development and investment, workforce development, regulatory cooperation and academic cooperation between the two. The sectors prioritized in the collaboration are life sciences, advanced manufacturing, information and communication technologies, energy, agri-food technologies, financial services and sports and tourism.
“Through this agreement, New Jersey and Ontario will bring together our workers, innovators, students, and entrepreneurs to collaborate on launching new industries and creating new economic opportunities — on both sides of the border,” said New Jersey Governor Phil Murphy. “Above all, this agreement will capitalize on the proud and thriving partnership that our governments and institutions have shared for decades, paving the way for innovation in artificial intelligence, fintech, digital health, and so much more.”
Canada and New Jersey have a strong connection, as the country is the Garden State’s top international trading partner, generating more than $17.5 billion through bilateral trade every year. In 2023, New Jersey’s collaboration with Ontario accounted for over one-third of that number.
“Ontario and New Jersey have both benefited from a long-standing trade relationship, and this agreement will further strengthen our collaboration, driving economic growth for both jurisdictions,” said Premier Doug Ford. “At a time of global instability, it has never been more important for Ontario and our U.S. partners to work together to create more jobs and prosperity, promote our shared values, and protect our shared national security interests. Now is the time to bet big on the U.S.-Canada relationship.”
To see the entire MOU, visit choosenj.com.
About Choose New Jersey
Choose New Jersey is the State’s leading non-profit business attraction organization. We harness the collective power of New Jersey’s business, government, labor, and academic sectors to expand New Jersey’s economy. We work globally, using our marketing expertise, concierge business development services, deep knowledge of the State, and convening power, in collaboration with State government, to empower businesses, entrepreneurs, leaders, and innovators to make New Jersey their home. To learn more, visit choosenj.com.