The tri-community region served by the Suburban Chamber of Commerce is home to many businesses and companies, both large and small.
Schering-Plough, one of New Jersey’s pharmaceutical giants, is sited at a large research facility in the northern section of Summit and employs close to 2500 people. Lucent Technologies’ site in Murray Hill—formerly the campus of AT&T Bell Laboratories—employs several thousand researchers and scientists who work to develop communications network technology. Celgene, a research facility and technical center, is housed on a lovely campus in the eastern portion of Summit.
Also in the area are Reed Elsevier, BOC, AIG Insurance, Reheis Inc., Chemetall Oakite Products, C.R. Bard, and Micron Powder Systems, to name a few. Additional large employers in the Chamber of Commerce area are Summit’s Overlook Hospital/Atlantic Health Systems and the Summit Medical Group, now located in Berkeley Heights. The Connell Corporate Center in Berkeley Heights is the largest office park in the region and is home to many smaller companies.
A full compliment of banks, automobile dealerships, realtors, medical offices, legal firms, financial planners, public relations firms, professional offices, and other service-oriented businesses have offices in the area.
According to projections developed by the Division of Labor Market and Demographic Research, N.J. Department of Labor and Workforce Development, the population is projected to increase 2.7 percent in the region and 3.6 percent in the state between 2007 and 2012. The 2006 unemployment rate for the labor area was a seasonally adjusted 4.9 percent, up from 4.3 percent in 2005. While employment in some sectors declined, other sectors experienced gains in response to the needs of a growing population, with most of the job growth in the labor area occurring in healthcare and social assistance, retail trade and other services. As the local population grows and ages, there will be a greater need for medical and social services. The labor force is predominantly skilled and well educated and falls mainly in the white-collar and service sectors.
Overall, commercial property space in the region is varied. Small business locations, large industrial parks, second-floor office spaces, and first-floor retail spaces are all available. Some spaces are newly built while others are in converted or renovated buildings. New small businesses are constantly relocating to the area, enriching the mix of stores and shops, some of which have been operating for many years in the same locations.