Import-export industry helps job growth in New Jersey

A port expansion and foreign investment projects are expected to bring hundreds of new jobs to New Jersey.

The Newark Star Ledger reports that the Port Newark Container Terminal will invest $500 million to expand the site, including an increase in the number of cranes used to unload ships. The move is expected result in a doubling of number of containers that will move through the facility over the next 20 years.

Governor Chris Christie said the improvements will help spur business as well as job growth in the area.

"This investment will dramatically increase cargo volumes at Port Newark, create stable, good-paying jobs and advance our commitment to a competitive port growth strategy," Christie stated.

Meanwhile, the import-export industry is expected to create at least 410 new jobs for the state after New Jersey officials recently completed 14 trade agreement.

According to the New Jersey Newsroom, the majority of direct investments will be coming from China, Italy, Germany, France and the U.K.

The state has also signed two additional agreements to pen trade offices in China and Europe to help attract more foreign investments and encourage trade expansion.