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Economy - overview:
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The Bureau of Economic Analysis estimates that New Jersey's total state product in 2004 was $416 billion. Its per capita personal income in 2004 was $41,636, 4th in the U.S. and 126% of the national average of $33,041. Its median household income is the highest in the nation with $55,146. It is ranked 2nd in the nation by the number of places with per capita incomes above national average with 76.4%. Nine of New Jersey's counties are in the wealthiest 100 of the country. Women in New Jersey earn the highest per capita income as stated in a 2002 article in the Newark Star-Ledger.
The Port Newark-Elizabeth Marine Terminal is one of the world's largest container ports although its imports are being threatened by the relatively low Bayonne Bridge. Newark Liberty International Airport is ranked seventh among the nation's busiest airports and among the top 20 busiest airports in the world.
Its agricultural outputs are nursery stock, horses, vegetables, fruits and nuts, seafood, and dairy products. In particular, cranberries and eggplant are two of the state's largest crops. Hammonton in the southern part of the state is known as the blueberry capital of the world. Its industrial outputs are pharmaceutical and chemical products, food processing, electric equipment, printing and publishing, and tourism. New Jersey's economy has a large base of industry and chemical manufacturing. Additionally, New Jersey is home to the largest petroleum containment system outside of the Middle East.
New Jersey hosts several business headquarters. Fifty Fortune 500 companies have headquarters in or conduct business from Morris County alone. New Jersey is said to have the largest concentration of Fortune 500 companies in the world: nearly one hundred companies on the Fortune 500 list have headquarters or conduct business from New Jersey. Paramus is noted for having one of the highest retail sales per person ratios in the nation. Several New Jersey counties such as Somerset (#7), Morris (10), Hunterdon (13), Bergen (21), Monmouth (42) counties have been ranked among the highest-income counties in the United States. Four others are also in the top 100.
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