New Jersey’s Middle Market Grows
June 24th, 2016
New Jersey has an estimated 6,291 middle market companies ($10 million-$1 billion in revenues), which make up 1.27 percent of all firms in the state according to the latest “Middle Market Power Index” from American Express and Dun & Bradstreet. The newest report in the series finds New Jersey ranks #25 out of all 50 states for growth in number of middle market firms from 2011-2016. The middle market is an increasingly important sector as it has accounted for more than half (53 percent) of total job growth nationally since 2011, according to the report. Additionally, while middle market firms make up less than 1 percent of all U.S. businesses (0.96 percent), they contribute one in four dollars (26 percent) and employ one in four workers (27 percent) in the private sector.
The below table outlines how New Jersey compares to national data:
|Number of Firms||Share of Firms||% Chg in # MM Firms, 2011-2016|
|Small (<$10M)||Middle Market ($10M-$999M)||Large ($1B+)||Total||Small (<$10M)||Middle Market ($10M-$999M)||Large ($1B+)|