Not with the insane property taxes and other regulatory friction. Highest property taxes in the country. It also has some of the highest auto insurance rates in the country as well. Health insurance is also higher than in neighboring NYC (at least the last time I checked a few years ago.)
All of the Democrat candidates for NJ governor want to raise taxes even more.
NJ also has the most underfunded public pension system in the country. -- a $44 billion shortfall. As a tech entrepreneur, I'd be very nervous about locating in a state that could, at any moment decide that those "wealthy tech companies" ought to be bailing out decades of financial mismanagement.
NJ also ranked 49th in "Small Business Friendliness" -- California was 50th. New York was 48th.
http://www.nj.com/business/index.ssf/2014/12/nj_is_a_terribl...
South Dakota, Nevada and Texas were the top three.
If anywhere should be the "next" place, it should probably be Houston -- one of the most diverse cities in the country, low taxes, access to a massive academic medical center, NASA, the energy industry, low cost of living, Rice University (pioneers in nano-tech including a Nobel winners,) University of Houston, including Paul Chu in superconducting. Texas A&M is about an hour away with more Nobel winners, including the 1996 Nobel in Physics and substantial engineering and science research programs
New Jersey does have Princeton of course and access to NYC (if that actually matters.) New Jersey's only "attraction" other than Princeton is "proximity to New York." I would have to see some actual data to be convinced that "proximity to New York" actually has a material affect on the success of startups. It's a fallacy that being in San Fran or NYC actually matters.