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The state’s greatest natural resource is its location, which has made New Jersey a crossroads of commerce and an ideal area for manufacturing. Other commercial advantages include its extensive transportation system, which puts one quarter of all national consumers within overnight delivery range. Lake and seaside resorts have contributed to the state’s rank of 5th among the states in revenues from tourism.
Despite more than three centuries of development almost half of the state is still wooded. The chief tree of the northern forests is the oak. A large part of the southern section is in pine. Jersey oak has been used extensively in shipbuilding.
The mineral resources in the state are small. New Jersey, however, does rank high in smelting and refining minerals from other states.
The Port Newark-Elizabeth Marine Terminal was the world’s first container port and is one of the world’s largest container ports. Newark Liberty International Airport is ranked seventh among the United States’ busiest airports and among the top 20 busiest airports in the world.
New Jersey’s agricultural outputs are vegetables, fruits, nursery stock, horses and nuts, seafood, and dairy products. In particular, cranberries, peach, tomato and eggplant are some of New Jersey’s largest crops. The local entities that support agricultural efforts are the State Department of Agriculture and Rutgers Cooperative Research & Extension. Hammonton in the southern part of New Jersey is known as the blueberry capital of the world. Its industrial outputs are food processing, electric equipment, printing, pharmaceutical and chemical products, publishing, and tourism. The state’s economy has a large base of heavy industry and chemical manufacturing. Additionally, it is home to the largest petroleum containment system outside of the Middle East.
The state hosts several business headquarters, including twenty-four Fortune 500 companies. Paramus is noted for having one of the highest retail sales per person ratios in the nation. Several counties such as Somerset , Morris , Hunterdon, Bergen and Monmouth have been ranked among the highest-income counties in the nation.
The state is infamous for its abundance of oil refineries. This is a list of the major oil refineries in the state:
Paulsboro Refinery (Valero), Paulsboro 160,000 bpd
Bayway Refinery (ConocoPhillips), Linden 230,000 barrels per day (bpd)
Eagle Point Refinery (Sunoco), Westville 145,000 bpd
Perth Amboy Refinery (Chevron), Perth Amboy 80,000 bpd
Port Reading Refinery (Hess), Port Reading 62,000 bpd
Paulsboro Asphalt Refinery (Citgo), Paulsboro 51,000 bpd
The state is home to major pharmaceutical firms Merck, Novartis, Pfizer, Hoffman-LaRoche, Wyeth, Johnson and Johnson, sanofi-aventis, Bristol-Myers Squibb, and Schering-Plough. The state draws upon its large and well-educated labor pool which also supports the myriad of industries that exist today.
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