THE NEW RENAISSANCE

Renaissance? The word is entirely appropriate for Jersey City. If you had left the city twenty years ago and returned again for the first time, you wouldn't know the place!

Because of its strategic location in the heart of the New Jersey/NYC metro areas, businesses are streaming into Jersey City. Over the past two years alone, thirty major businesses moved to or opened divisions within the community.

And they aren't camping out in streets either. They've taken up residence in attractive new office complexes that were designed and built for business in the 21st Century, wired for easy access to the world's information infrastructure.

Major corporate developments have taken place at the Exchange Place Center, Colgate, Cali International Financial Tower, 15 Exchange Place, and 101 Hudson. They have remade Jersey City's skyline and are re-making Jersey City's image.

But a major corporate renaissance is only half of the Jersey City story. Smaller businesses are also warming to an ever-improving business climate in the numerous "Business Improvement Districts."

These districts are comprised of business and property owners who form a private, non-profit organization that seeks to promote the commercial welfare of each of the members. Special operating assessments are collected from each of the members to pay for supplemental security and sanitation services, as well as special capital improvement projects and promotional events such as a 3% sales tax forgiveness Program to encourage holiday shoppers to spend their dollars within the district

The Jersey City Economic Development Corporation works closely with these groups to make available any funds that may help the districts improve their commercial viability. This public-private partnership has contributed significantly to business improvement and the over-all Jersey City renaissance.