The Jersey City Economic Development Corporation (JCEDC), a private not-for-profit corporation was formed in 1980 by the City Council of Jersey City to stimulate industrial and commercial growth in Jersey City. Our mission statement is to provide leadership that will facilitate business and community development throughout Jersey City.

The JCEDC is the premier economic development agency and the leading Urban Enterprise Zone (UEZ) authority of New Jersey. Our leadership has established the "Holistic Urban Building" revitalization plan, an initiative that accommodates the needs of both the business and resident communities. Among our notable programs are the $28 million Martin Luther King HUB Redevelopment Project; the $7.5 million Journal Square Streetscape; the Citywide Blockfront Restoration Program; the establishment of Special Improvement Districts (SIDs) in Central Avenue, Historic Downtown Newark Avenue, McGinley Square, and Journal Square; the restoration of the Landmark Loews Theatre; and the biggest security program in the Northeast, the $5 million Closed Circuit Television (CCTV) program.

Our Real Estate Department is highly commended by Cushman & Wakefield, Newmark JGT of New Jersey, SJP Properties, Hartz Mountain Industries, and other prestigious real estate consulting firms, property managers, and developers. The department is a dynamic service-oriented division that provides the most up-to-date data to thousands of inquiries; implements various marketing projects;aids in site or property selection; and assists in relocation by providing maps, tenant directoris, and a complete overview of developments.

In addition, the Community Lending and Investment Corporation (CLIC) of Jersey City, a JCEDC subsidiary, was established to provide business loans for up-and-coming entrepreneurs. SInce CLIC's inception, they have apportioned 195 loans, and created and retained 3,022 jobs throughout the community.

These are the most outstanding achievment's to date:

• $55 million have been reinvested through 25 UEZ programs
  (generating more than $4 billion in capital investments)
• A bullish 500 percent growth in the FIRE (Finance, Insurance, Real Estate) Industry since 1993
• Wall Street West: The most sought after business address for Fortune 500 corporations and the only financial district in New Jersey.

Today, economic renaissance pulses all throughout Jersey City. Scores of state-of-the-art office buildings have replaced the rail yards from a bygone era. An aggressive 85% of NASDAQ stocks are traded at the waterfront. The "FIRE" Industries (Financial, Insurance, Real Estate) have grown by more than 500% since 1993. Our newest residents, Lord, Abbett & Company, American Express, US Trust, and National Discount Brokerage all moved from New York City.

Why Jersey City? Here, there's no city income tax, no corporate tax, no payroll tax, and no commercial rent tax. Compared to Manhattan, utility rates are 30% lower, operating costs are 35% less, and the average advertised rent for Class A office space is one-third more economical. Plus, the state's Business Employment Incentive Program (BEIP), Business Relocation Assistance Grant (BRAG), Employee Training Grant (ETG), Urban Enterprise Zone (UEZ), and our local pro-business policies make a Jersey City business address even more desirable.

Our economic revitalization benefits every resident. The Jersey City Economic Development Corporation (JCEDC) administers the UEZ program for the City of Jersey City. This partnership oversees a citywide commercial reconstruction: "Jersey City's Holistic Urban Building."

Journal Square is once again the vibrant center of town. There is a newly installed fountain, food kiosks, lampposts, trees, flowers, and a new streetscape. The landmark Loew's Theatre is under renovation and will soon stage concerts, musicals, and movies. The art deco 26 Journal Square and the ritzy Earle Hotel both sport a complete renovation.

With last February's opening of CitiMarket supermart, the dream of renewal on Martin Luther King, Jr. Drive has become a reality. In the same location, a new Post Office, Ponderosa Restaurant, Ashley Stewart, Kid's Spot, and an All-Star Sports Center all will soon open their doors.

The city's commercial corridors reflect the new pride of the shopkeepers and the neighborhood people. Now over 200 storefronts at Central Avenue, Downtown Newark Avenue, and McGinley Square proudly display retro-turn-of-the-century motifs. Newly formed Special Improvement Districts and the UEZ security program ensure a pleasant atmosphere by providing street sweepers, security guards, and increased police patrols.

In just the last six years alone, Jersey City gained 35,000 new jobs and $3.8 billion in capital improvements. An additional $52 million nurtured the inner city through 60 UEZ programs. The Hudson Bergen Light Rail runs from Bayonne to Newport via Exchange Place and Harborside with a spur line to West Side Avenue. Goldman Sachs' $450 million skyscraper will be New Jersey's tallest building -- with the winners of the silver and bronze here in Jersey City, too!

This success would not be possible without close cooperation from the Department of Housing & Economic Development; the Jersey City Redevelopment Agency, and all the City offices and agencies that business owners come into contact with, as well as the support of the business community and the residents of our great City.

Jersey City and JCEDCreating new opportunities together, ensuring that even greater things are on the horizon. Check out this site for more information or CONTACT US today.