Right Up Einstein’s Alley
February / March 2020
Celebrating over a decade of helping make NJ the place for high tech business success
Einstein’s Alley Welcomes New Member
Klatzkin & Company LLP
Klatzkin works with technology companies providing guidance on tax, accounting, audit, and other business management issues. They work with companies across Central New Jersey to identify opportunities, resolve challenges, and uncover new opportunities. No matter your location, their focus remains the same, providing best-in-class advice and guidance to propel your company to success. Technology is complicated, and so are the business issues industry companies’ face. If you have concerns about your accounting, financial reporting or process or need additional guidance with taxes, Klatzkin can help.
The Klatzkin story is one that started in 1930 when two insightful and entrepreneurial professionals came together to start an accounting firm. One focused on supporting the accounting, tax, and business consulting needs of local companies. While a lot has changed since the doors to Klatzkin first opened, the one constant is their passion for helping business owners, nonprofit organizations and high net worth individuals manage their tax, accounting, estate administration, and financial reporting needs.
While their history demonstrates their commitment to client success, it’s the story between the lines that demonstrates why Klatzkin is the preferred option for so many. Over the years, they have carefully studied and observed client needs to understand how technology and other innovations permit them to better meet needs, from accounting to tax, to compliance and beyond. The result is a seamless client experience steeped in best practices from across the profession.
Princeton is listed as one of a Dozen ‘Smartest’ Towns in New Jersey
With New Jersey thus established unquestionably as the smartest state, the next logical question is: Which is the smartest town?
Colleen O’Dea | 01.21.20 | NJSpotlight
Princeton Review Ranks 5 New Jersey Colleges Among the Top 200 with ‘Best ROI’
Five New Jersey-based higher education institutions have been named among the 200 Best Value Colleges for 2020 by The Princeton Review.
The education services company said it crunched more than 40 data points to determine which undergraduate institutions offer the best return on investment. Topics covered everything from academics, cost and financial aid to graduation rates, student debt, alumni salaries, and more. To make the list, a school needed to have stellar academics at an affordable cost with strong career prospects after graduating.”The schools we chose as our Best Value Colleges for 2020 comprise only 7% of the nation’s four-year colleges,” Robert Franek, editor-in-chief of The Princeton Review, said. “They are truly distinctive and diverse in their programs, size, region, and type, yet they are similar in three areas. Every school we selected offers outstanding academics, generous financial aid and/or relative low cost of attendance, and stellar career services. We recommend them highly to college applicants and parents seeking schools that are academically top-notch and committed to making their programs affordable. These colleges are also standouts at guiding their students to rewarding futures.”
Emily Bader | ROI-NJ | 02.05.20
Immigration Essential to the STEM Economy, speakers say at Middlesex County Regional Chamber of Commerce Meeting
Despite making up 34.5 percent of Middlesex County’s population, immigrants accounted for 64.4 percent of the county’s science,
technology, engineering, and math (STEM) workers
and 49 percent of business owners in 2018.
This fact came from a report by New American Economy (New York) that was discussed during the Middlesex County Regional Chamber of Commerce meeting on January 30, held at Rutgers University’s Visitor Center .
The audience – comprised of business leaders and educators, among others – also learned that without the immigrant population, Middlesex County’s population would have declined by 2.7 percent that same year.
The report, which was published in partnership with the Middlesex County Regional Chamber of Commerce and Einstein’s Alley, a nonprofit economic development organization, highlights the economic impact that immigrants in Middlesex County have had on their community, such as contributing $2.7 billion to federal taxes and $1.4 billion to state and local taxes in 2018.
Esther Surden | NJ Tech Weekly | 02.14.20
“Urbs,” “Burbs,” and the Immigration Locomotive
An Analysis of Economic, Demographic and Market Trends
“Even more so than the nation, the broad four-state, 35-county metropolitan region centered on New York City is becoming afflicted by a condition of demographic stagnation. While the United States has been experiencing the lowest population growth rates since the Great Depression, the region has only recently (2016-2018) slipped into absolute population decline, spawned by domestic outmigration.
The major counterforce forestalling a demographic catastrophe has been positive international migration. Immigration has become the primary source of population growth-the demographic locomotive.Without it, the region would have to bear fully the economic consequences of what has become a virtual domestic population hemorrhage-a vast exodus of regional residents moving to the rest of the country. This is just one dimension of endemic demographic change that has swept the post-Great Recession world.”
Report produced by the Center for Advanced Infrastructure and Transportation | Rutgers, the State University of New Jersey
James W. Hughes Connie O. Hughes Joseph J. Seneca
University Professor Former Chief, University Professor
Dean Emeritus Management & Policy, Emeritus, Rutgers,
Rutgers, The State NJ Governor’s Office The State University University of New Former Deputy of New Jersey
Jersey Commissioner, NJ
Dept of Labor
Rutgers Regional Report, February 2020
Golden Seeds Launches New Jersey Chapter in Partnership with First Lady Tammy Snyder Murphy, NJEDA
Founded in 2005, Golden Seeds is a nation-wide angel investor network dedicated to investing in female-led startup companies. The organization has more than 300 members that include accredited investors from a diverse range of locations, sectors, and backgrounds. The New Jersey chapter of the organization joins seven established Golden Seeds chapters in Arizona, Atlanta, Boston, Dallas, Houston, New York City, and Silicon Valley.
“We are honored and excited to welcome Golden Seeds investors to New Jersey, where they will find many accomplished women eager to learn from them,” First Lady Murphy said. “We are so impressed with Golden Seeds’ track record of ensuring that female-led startups have access to the capital they need to succeed and compete on the global stage. With Golden Seeds network of support, the potential for New Jersey’s female entrepreneurs is limitless.”
American Entrepreneurship | 02.05.20
Governor: New Jobs Program Is to Boost Economy, Match Businesses with Jobseekers
New Jersey is making a new push to ensure businesses here have the skilled workers they need to grow, under a new jobs initiative that involves several different areas of state government.
The effort, dubbed “Jobs NJ” by Gov. Phil Murphy, sets lofty goals for increasing the graduation rates of college students and those attending other job-training programs. Another focus is improving the job outlook for adults by encouraging more to enroll in programs that provide them with a training certificate or credential upon graduation.
It will also bring new attention to jobs that are in “high demand” in New Jersey and provide jobseekers with more information about the specific “pathways” they can take to qualify for those jobs.
NJ Spotlight Weekly | John Reitmeyer| 01.16.20
Newark Ranked as One of the Ten Best Cities for New Programmers to Live, Work
San Francisco, Seattle, San Jose – even New York City.
None of these high-tech areas made the list of the 10 best places for a young programmer to live and work.
But Newark did.
That’s right, a survey by Coding Dojo, a coding boot camp company, ranked Newark as the sixth-best place for young programmers to live and work.
And it did so despite the city’s median rent of $1,830 a month. According to the blog: “While Newark has the most expensive median rent on our list, it’s a short distance from New York City and its massive economy. When you consider the median 2-BR rent in NYC is $5,102, Newark’s mid-$1,800s doesn’t sound so bad.
Tom Bergeron | ROI-NJ.com | 01.23.20
Merck Splitting Up Company, Spinning Off $6.5B Worth of Businesses – including Women’s Health, Biosimilars
Merck is dividing itself in two, spinning off a variety of products into a $6.5 billion business – which is yet to be named – while focusing on its own key pharmaceutical products, the Kenilworth-based drugmaker announced Wednesday.
The publicly traded company, which Merck called “NewCo” in a news release, would include Merck’s Women’s Health, Legacy Brands and Biosimilars businesses. It would have a global footprint, with roughly 75% of its sales generated outside the U.S., and would include 10,000 to 11,000 employees, Merck said in its release. The company is expected to be headquartered, like Merck, in New Jersey.
Merck, meanwhile, would focus on its products from the Oncology, Vaccines, Hospital and Animal Health units and remain a global, research-focused biopharmaceutical company. The spinoff would reduce the Human Health manufacturing footprint by about 25% and its Human Health products by about 50%.
Eric Strauss | ROI-NJ.com | 02.05.20
How Technology Is Changing the Future of Higher Education
Labs test artificial intelligence, virtual reality and other
innovations that could improve learning and lower costs
for Generation Z and beyond.
Universities may be at the cutting edge of research into almost every other field, said Gordon Jones, founding dean of the Boise State University College of Innovation and Design. But when it comes to reconsidering the structure of their own, he said, “they’ve been very risk-averse.”
John Marcus | The New York Times | 02.20.20
2020 Albert Einstein Memorial Lecture
Each year the Princeton Mercer Regional Chamber of Commerce invites a Nobel Award winning speaker to talk about their research and discoveries.
This year’s speaker is Princeton University’s own James Peebles,
who was awarded the 2019 Nobel
Prize in Physics.
When: March 16th at 5:30 PM
Where: The Institute for Advanced Study
1 Einstein Drive, Princeton, NJ 08540
Click here to Register.
2020 Women Designing the Future Conference
Humanitarian Awards Gala – April 21, 2020
Einstein’s Alley Website
The Einstein’s Alley website is for you. Check the Directory section and see the companies listed that you need to know.
The website is also a great place for visibility for your company. Contact email@example.com for information both on membership and on how to get a highlighted listing in the Directory. Or go directly to the website and download the form.
What is Einstein’s Alley?
Einstein’s Alley collaborates and coordinates with academic institutions, governmental and private sector organizations to grow NJ as a magnet for entrepreneurial activity and as a globally recognized talent powerhouse.