New Jersey has a higher-than-national-average number of “middle-market” firms, according to a report from American Express and Dun & Bradstreet. Middle-market firms are defined as those with revenues between $10 million and $1 billion a year.
New Jersey’s middle-market companies make up 1 percent of the state’s economy, while nationally they make up only 0.7 percent. New Jersey also has a higher-than-national percentage of large companies (more than $1 billion) but surprisingly they make up only 0.02 percent of the state’s economy, while nationally they make up 0.01 percent. (There are 85 New Jersey companies with revenues of more than $1 billion.)
Like the rest of the economy, small businesses make up the bulk of New Jersey’s business, with 469,911 companies in that category.