Why Morris County Is a Financial Services Industry Leader
Morris County is one of the most affluent counties in New Jersey and a leading financial services hub. The county is home to many Fortune 500 companies, including several in the financial services sector.
The county’s strong economy supports thousands of jobs and is driven by the financial services sector, which employs a significant portion of the county’s workforce. The industry includes a diverse mix of businesses, from banks and insurance companies to investment and accounting firms.
The county is committed to supporting the sector and attracting new businesses to the area. With its convenient location, skilled workforce, and competitive tax environment, Morris County is ideal for companies in the financial services sector to relocate and grow.
Morris County’s Financial Industry Sector
There are 78% more jobs in Morris County’s financial services industry than one would expect in an average region of this size. The financial sector is a critical part of the county’s economy, accounting for 430+ payrolled business locations and 76% of the goods and services the industry requires to operate.
With a GRP of $3.3 billion, the financial industry is one of the largest and most significant contributors to Morris County’s economy. The sector comprises 26 industries, including banking, insurance, accounting, and investment management. Nine hundred and fifty companies in the county fall under this category, employing over 7,000 people—making Morris County uniquely positioned to provide the financial services industry with the talent, resources, and infrastructure it needs to thrive.
Additionally, Morris County’s proximity to New York City makes it an attractive option for businesses in the financial services sector. The county’s skilled workforce and competitive tax environment are also crucial factors that make it an appealing option for companies in the financial services sector.
Morris County’s Notable Financial Services Companies
The county is home to a plethora of highly successful financial services companies. Some of the top names in Morris County’s financial services include:
ADP
ADP is a multinational corporation that provides payroll and human capital management services to small, medium, and large businesses. The company has more than 650,000 clients in over 100 countries worldwide.
PricewaterhouseCoopers
PricewaterhouseCoopers is an international professional services firm offering companies worldwide tax, assurance, and advisory services. Headquartered in Morristown, PricewaterhouseCoopers has more than 200,000 employees serving 34 countries.
MetLife
MetLife provides life insurance to people worldwide, but it also helps various organizations achieve success through its many divisions that offer financial services. As such, it’s not surprising that one of those divisions works out of Morris County.
Deloitte & Touche
Deloitte provides accounting services, consulting, and business financial advice. The company has a long history with Morris County and recently opened offices in Morristown.
NuWave Investment Management
NuWave combines cutting-edge technology, insightful research, and sheer ingenuity to help clients navigate the complexities of global investing. The company is in Parsippany and has been in business for 22 years.
Beacon Trust Company
Located in Morristown, Beacon Trust is a full-service wealth management firm with approximately $2.5 billion in assets under administration and decades of proven success, superior solutions, and exceptional client service.
Looking for a Career in Morris County’s Financial Services Industry?
If you are interested in pursuing a career in the financial services industry, Morris County is an excellent place to start. With its strong economy, skilled workforce, and diverse industries, there are many opportunities for talented individuals looking to start or grow their careers in this field. Whether you’re just starting or ready to take your career to the next level, Morris County can provide you with everything you need to succeed.
Book an Appointment Today with Morris County EDC
If you are interested in learning more about the financial services industry in Morris County, or if you are looking to relocate your business to the area, please contact the EDC today. We would be happy to answer any of your questions and discuss how membership, business counseling, and our resources will benefit your business.