NEW BRUNSWICK, NJ-New Jersey may be in better shape than the USeconomy overall, but major demographic trends will keep conditionschallenging, resulting in “the Great Uncertainty,” says theDecember 2010 issue of the Advance & Rutgers Report, whichanalyzes economic, business and demographic trends.

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The state and country remain in a shifting world largely due totechnology, as the productivity increase resulting from the techrevolution has depressed employment and the need for office space.“People are working remotely now,” says Peter Cocoziello, founderand CEO of Bedminster, NJ-based Advance Realty, which sponsors thequarterly report. It is edited by James W. Hughes, dean of Rutgers’Edward J. Bloustein School of Planning and Public Policy, andJoseph J. Seneca, a Rutgers professor.

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While the US gained 1.1 million private sector jobs in the first10 months of this year, compared with a loss of 4.7 million jobsduring the same period of 2009, this gain is far below pastemployment expansions. The European debt crisis fed fears of astalled recovery, keeping unemployment high. With increasingglobalization of large businesses, it’s up to small business tocreate jobs in the US, Cocoziello says. “Our leadership here isdoing a good job in understanding that growth has to be in smallercompanies,” he tells GlobeSt.com. “The state must be agile in howit supports small business.”

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The state’s Economic Development Authority, Cocoziello noted inthe report, has a number of programs to help business with fewerthan 100 employees cover operating expenses or create jobs. Loansof up to $3 million are available to businesses investing in one ofnine designated urban areas, which include Newark, Atlantic City,Paterson, NJ and Camden, NJ.

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New Jersey’s density also helps. “I like to think we’re a littlemore certain than the rest of the country because of ourdiversified economy,” Cocoziello says. Office space, however, willremain stressed, as states compete to attract companies and shadowemployment results in lower standards of living. “This will be thekind of recovery that bounces along the bottom,” he says.

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