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ECONOMIC DEVELOPMENT RESOURCES
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"We're putting programs in place that will bring long-term growth for all of Jersey City's residents & businesses," according to Gene Nelson, president of the Jersey City Economic Development Corp. Doing more than 'business as usual' means going the extra mile to provide expanding or relocating businesses with the information, permitting & financial assistance they need to prosper in a new location. The following list describes in detail some of the programs & economic development resources offered by Jersey City & the state of New Jersey. |
It's hard to keep a good thing a secret! In a recent survey, the highest degree of satisfaction among recently relocated companies was among those that chose to locate in Northern New Jersey. From 1992-94, more businesses relocated to Jersey City than to any other part of New Jersey.
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Some recent arrivals that can attest to the many benefits of locating in Jersey City include: Merrill Lynch, Lehman Brothers, AICPA, First Chicago, USA Network, Pershing, Evergreen, New York Daily News, Tropicana, and BMW.
In making a move to Jersey City, there are three agencies designed to assist in relocation. A good place to start is the Jersey City Economic Development Corporation (JCEDC). This not-for-profit corporation was formed by the City in 1980 to assist companies looking for Jersey City sites. The organization matches the businesses' requirements with a citywide database of available properties. All services are provided free-of-charge, and are strictly confidential.
The JCEDC helps businesses looking to move into Jersey City or existing businesses that have outgrown their current facilities to find suitable locations. The department maintains an inventory of properties available for sale or lease and their specifications, produces and distributes information materials, represents the JCEDC at conventions and trade shows and conducts marketing and advertising programs to help retain and attract businesses.
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"Depressed Economy" was a term that once lingered in the minds of Jersey City's residents and observers. Today, that term neither describes nor endures in the city's economic panorama. The efforts of the forward-looking Healy administration, and priviate non-profit agencies such as the Jersey City Economic Development Corporation continue to make Jersey City's economic boom a reality.
The Jersey City Economic Development Corporation, since its birth in 1980, have administered various programs that have helped retain, expand, and attract businesses. The professional staff of the Real Estate Division dedicate themselves to providing interested parties with the necessary business contacts, and the most up-to-date information regarding project developments. The Division's role has rapidly expanded as residential and office towers rise along the formerly industrial Hudson waterfront.
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| Community Lending & Investment Corporation of Jersey City (CLIC) |
The JCEDC also administers the Urban Enterprise Zone (UEZ) program for the City; more than 800 businesses currently operate in the UEZ which covers 80% of Jersey City's commercial areas. Since 1986, the UEZ has generated more than 15,000 new full time jobs and has attracted approximately $1.3 billion in capital investment.
Tax credits are the major benefit offered to UEZ businesses, among them:
| Other Economic Development Resources |
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