NEWARK, NJ, September 6, 2018 – The New Jersey Innovation Institute (NJII) – together with our partners, the State of New Jersey, AECOM, Arconic, Atlantic County Economic Alliance, Choose New Jersey, EPS Corporation, IDT, Lockheed Martin, NJ Business & Industry Association, NJ Economic Development Authority, New Jersey Innovation Institute (NJII), New Jersey Institute of Technology (NJIT), NJ Manufacturing Extension Program, NJ Natural Gas (NJNG), Ocean County, SMH International, and Specialty Systems will host the first annual NJADC Summit on October 9, 2018 from 10:00 a.m. – 2:30 p.m. at the New Jersey Innovation Institute’s Agile Strategy Lab (located on the NJIT campus) Central King Building, 100 Summit Street, Newark, NJ 07103.
The NJ Aerospace & Defense Coalition (the Coalition) is a collaborative, bipartisan platform comprised of leaders from New Jersey (NJ) industry, military, government, and academia. Designed to accelerate the work started by the New Jersey Military Installation Growth and Development Task Force – documented in the task force report, this multi-stakeholder group has come together to strengthen, retain and grow the NJ aerospace and defense (A&D) industrial base and military installations by positioning NJ as a national resource for military innovation and support.
New Jersey is home to several military installations that have significant strategic and tactical value for the United States. More than national security assets, these installations are catalysts for both economic and innovative energy in the state. The U.S. Department of Defense spends nearly $7.0B a year to support defense missions in New Jersey, directly supporting 34,000 defense personnel with almost $2.0B in payroll expenditure. Then there is the “multiplier effect”. This direct activity supports military purchases of goods and services from the NJ defense technical and industrial base. Moreover, military personnel spend their incomes for housing, entertainment, and services in the local economy. The A&D community is also an integral part of NJ’s broader innovation ecosystem. The research and development capabilities at NJ military installations, and the scientists and engineers who perform this work – underpin attractive talent networks, acquisition or licensing pathways for university spin-outs, and a technology base that can be leveraged for commercial activity. Yet, we cannot take these assets for granted. Defense budgets continue to shrink and, even with a strong military agenda in the White House, a significant restructuring of military assets is expected in the coming years. It is paramount that, together, we make NJ the obvious choice for next-generation military missions and innovation.
Tugba Aksoy Carly Wronko
Client Engagement Manager Creative + Digital Manager
Economic & Cluster Development Choose New Jersey
New Jersey Innovation Institute firstname.lastname@example.org