As the ribbons were being cut for the new U.S headquarters of the Korean Small Business Corp. recently, New Jersey Commerce Secretary Virginia Bauer heralded the relocation as testimony to the state's attractiveness for foreign direct investment projects.
"For a state that has long been an incubator for ideas and inventions, we are pleased to have this new business development center and its 23 tenant companies here in New Jersey," said Bauer. "Certainly, our diverse economy, our educated workforce and our unmatched transportation infrastructure have helped us earn the reputation as the International Business Address of the Northeast."
The 10,000 square foot Korean Business Center, located in Englewood Cliffs, will house 23 tenant companies. Its mission is to promote the growth of small and medium-sized Korean enterprises. The Center's former headquarters was in Chicago.
Korea is one of New Jersey's most important trading partners. In fact, New Jersey is Korea's 7th largest exporting state with $658 million in sales.
New Jersey is the nation's 12th largest exporting state, with more than $21 billion. In terms of foreign direct investment, the state ranks 6th among all states.
