Modern Jazz (as in recent) Music Suggestions

Check out the ATC label.
Avashai Cohen (trumpet and bass...2 different guys)
Snarky Puppy
Vijay Iyer
Chris Potter
Sean Jones
Fred Hersch 
Linda Oh
Brecker Brothers
Dave Douglas
Jeremy Pelt
Wyclffe Gordon
Joe Lovano
Christian Scott
Branford Marsalis
Marcus Miller
Kenny Garrett
Brian Blade
This, along with the above suggestions, is just a small taste of the last 20 years of new-er jazz artists. And then there are the vocalists.

jbrrp1,
I second your Ambrose recommendation.  I have seen him perform a number of times.  Incredible use of the trumpet. I find him extremely inventive...a bit heady at times, but well worth multiple listenings.

Arafiq - glad you like the Alan Pasqua (well some of it!).  Sound quality is really good...even on Spotify  ;-).  A few of the tracks can be a bit challenging but keep listening and it's almost like "the logic" starts to sink in.  I'm listening to it as I write (bought the CD today and burned it to hard drive).  For the Ambrose fans in this thread, worth noting he plays on this recording. Nels Cline guitarist extraordinaire of Wilco is on it too.  Not sure why he's slumming w/Jeff Tweedy (kidding).  Anyway, it's a recording that keeps drawing me back...too few of those these days.  Good thread you started.  Thanks.  I'll be following it and checking out some of the other recommendations.

I suggest checking line-ups of Montreal Jazz festival. The best musicians gather there:
Roy Hargrove -- trumpereer
Ambrose Akimusire -- trumpeteer
Bill Frisell (He took lessons from Johnny Smith) -- electric guitar and experimental electronics
Alan Jackson -- multi-string electric basses known in bands Spyra Gyra and Fourplay
Brian Blade -- drums better and faster than Buddy Rich in his prime!
John Pattitucci -- string and electric basses
Snarky Puppy -- funky big band lead by Michael League (electric bass)
Richard Bona -- electric bassist
Phillip Johnston -- soprano and alto saxes with Microscopic Septet band and also Big Trouble. They improvise on old foxtrots and swing compositions adding more modern harshness.
Marc Ribot -- electric guitar
John Medeski - Martin - Wood or MMW -- known funky jazz trio

Exploring Northern Europe:

Jazz-Baltica is a festival, but not quite: It's more of a jam sessions with coolest Northern European jazz musicians such as:
Wolfgang Hafner -- founder and drummer;
Nills Lundgren -- trombone, vocal
Marcusz Wasilewski -- piano and keyboards
Lars Danielsson -- bass
Till Bronner -- trumpet
Nils Petter Molvaer -- trumpet with sound effects and pedals
Eivind Aarset -- guitar with experimental electronics and many others

And finally, for the most of the greatest ones, follow and explore ECM label at all times!

Highlights are:

Terje Rypdal, Miroslav Vitous, Jack Dejonette -- trio and obviously their solo works
Pat Metheny -- no need to introduce indeed
Carla Bley
Egberto Gismonty
Eberhardt Webber
Colin Walcott, 
Nana Vasconcielos
Bill Connors
Keith Jarrett

Us Jazz hounds are very fortunate indeed, as the last 4 years, have been particularly excellent for new artists/releases!  Happy Listening!