At a glance: New Jersey New Jersey is the 11th most populous state in the U.S., with 9,500,851 residents across its 8,721 square miles, according to the U.S. Census Bureau. The state ranked No. 25 for business in 2024 by CNBC. New Jersey is known for its diverse economy, which includes major industries such as pharmaceuticals, life sciences, financial services, advanced manufacturing, information technology, and transportation and logistics. The state has a significant concentration of engineers and scientists, and the healthcare and life sciences industry continue to grow. Energy New Jersey ranks No. 34 among states for most energy production, with its leading production sources being nuclear, wood and waste, and noncombustible renewables, according to the U.S. Energy Information Administration. New Jersey ranks No. 37 for most energy consumption. The leading energy sources consumed by New Jerseyans is natural gas, motor gasoline and nuclear. New Jersey’s residential electricity rate is $0.196/kWh, more expensive than the national average. Commercial electricity rate is also more expensive; New Jersey commercial users pay a rate of $0.140/kWh, compared to the national average commercial rate of $0.1259/kWh. Industrial users pay $0.1168/kWh, above the national average industrial electricity rate of $0.0804/kWh. New Jersey’s residential natural gas price is $13.21 per thousand cubic feet, below the national average of $14.75, according to the most recently available data from the U.S. Energy Information Administration. Environment Annual carbon emissions decreased 29 percent since 1970, while the state’s population increased 45 percent during the same span. The population is projected to increase another 8 percent, to 10.5 million residents, by 2050. The federal government lists 17 species in New Jersey as threatened or endangered.
