New Jersey Seeks To Create Fintech Innovation Center as Model in US

finance technology NJ

New Jersey, claiming it’s on track to become the nation’s center for the financial technology industry, is seeking input from real estate developers — including advice on potential sites — and others in order to create an innovation hub for that business in the Garden State. 

The state’s Economic Development Authority on Monday issued a so-called request for information, or RFI, to gather input about whether creating what it called a fintech “physical innovation center” would create an opportunity for further economic development, sustained job growth and job creation, and further innovation in the state. Responses are due by June 6.

New Jersey officials are looking to capitalize on the fact that because of the state’s proximity to New York City, many of the world’s leading financial services companies have already located their back-office data and technology-support operations in the Garden State. And some fintech firms are in the state already, as well.

*Article courtesy of Costar

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