Governor Phil Murphy, alongside Choose New Jersey, has completed a successful economic mission to the United Kingdom. This five-day visit aimed to strengthen ties between New Jersey and the UK in technology, clean energy, and life sciences sectors. As the leading U.S. state for UK foreign direct investment, New Jersey seeks to enhance international partnerships that create jobs and boost its competitive edge.
Governor Murphy emphasized the importance of collaboration: “This mission has strengthened our shared commitment with the United Kingdom to foster economic growth through innovation and partnership.” Discussions were held with key business groups like the Association of British Healthtech Industries and BritishAmerican Business, focusing on opportunities for companies in Biotech, MedTech, and HealthTech sectors looking to expand into the U.S. market.
Two significant Memoranda of Understanding (MOUs) were signed during this mission. One was between Climate Group and New Jersey, aligning their climate goals and integrating New Jersey into Climate Group’s Under2 Coalition. The second MOU was signed by the New Jersey Economic Development Authority (NJEDA) with the UK’s Investment Association (IA), aiming to enhance FinTech collaboration between both regions.
Tim Sullivan, CEO of NJEDA, remarked on these developments: "This economic mission to the UK has underscored New Jersey’s commitment to being at the forefront of global innovation and sustainable growth." The agreements aim to support FinTech firms' expansion and foster collaborations that benefit both regions economically.
In addition to business discussions, Governor Murphy delivered a keynote interview in London hosted by the Financial Times on artificial intelligence. He discussed New Jersey's objectives in AI development and its efforts towards responsible innovation in collaboration with academic institutions.
The delegation also explored potential collaborations at locations such as West Cambridge Innovation District and Cambridge Biomedical Campus. First Lady Tammy Murphy participated in discussions focused on sustainability initiatives with Thames Estuary Growth Board.
The UK remains one of New Jersey's top markets for business attraction, currently hosting 146 UK companies that contribute significantly to job creation and trade value. Wesley Mathews, President of Choose New Jersey, stated: "Our mission to the United Kingdom showcased the qualities that set New Jersey apart as a global business hub."
The trip concluded with participation in a U.S. Veterans Day event at Cambridge American Cemetery.
Reporters seeking further information can contact Natalie Hamilton or Ingrid Austin or visit choosenj.com/UKMission for more details.
