My name is David Hoffman (Jr). My experience as a government contractor, has taught me there are several strategic benefits that any business can utilize to become more competitive and successful when doing business with the federal government. One of these key benefits is choosing a location for your business that is located in a ‘HUBZone‘ which stands for Historically Under-utilized Business Zone.
HUBZones are specially designated areas that have areas which could support business growth and development, but, for some reason or another, have not.
Locating your business in a HUBZone, might entitled your business to ‘sole-source’ contract opportunities that could be very lucrative.
One property that is located in a qualified HUBZone area is 46 – 48 Martin Luther King Drive, Jersey City, NJ. This property is an excellent investment for several reasons. Aside from the recent renovations done to the building, there are benefits that come with this building for anyone who sincerely desires to invest in the community. I was born in Jersey City, and I’m really committed to community re-investment and strategic partnerships that benefit the residents.
My father, David Hoffman Sr, after decades of community service in the neighborhood, decided to ‘pass the torch’ and retire. Although the present use of the building is ‘mixed-use’ and serves as a community center on the first floor as a daycare center, and the 2nd floor as business offices – it could be used for any number of purposes, each of which the community needs and would embrace such as:
- a Community Urgent Care Health Center
- a Grocery Store (with Fresh Fruits, Vegetables, etc)
- a Veterans, or Youth Job Training Center
- a Government Contractor
- a Retail Store
The decision was made to list the property with a real estate agent, while I pursue strategic potential partnerships with those businesses who have an interest in exploring the ‘HUBZone‘ or Job Training synergies that could be obtained using this property.
Living in the Washington, DC area for many years, I was able to attend many conferences, meetings, and planning sessions which led to making hundreds of ‘high value’ contacts. As a contractor myself, I know the ins & outs of successfully bidding on, and winning lucrative government contracts legally. Right this minute, I can guarantee there are federal contracts being set-aside exclusively for those businesses located in a qualified ‘HUBZone‘.
I’m interested in seeing 46 – 48 Martin Luther King Drive used as a strategic facility for a successful government contractor that wins lucrative contracts who will also train and/or hire local residents willing to work.
If you have already mastered the nuances of contracting with the federal government, then you already know the value of 46 – 48 MLK Dr as a strategic investment property. You would then be joining the group of businesses in New Jersey who in the last ten years have won $1,978,638,412 billion dollars of business from the GSA alone!
In Jersey City, there were 20 contractors, who won a total of 1,517 contracts from 2004 to 2011 worth $14,458,472! While this might sound impressive, some of Jersey City’s neighbors are doing far better.
Newark, in the same period had 47 contractors who won 1,949 contracts and earned $192,443,471 dollars in business.
Parsippany, has 20 contractors (same number has Jersey City), who won 1,103 contracts worth $382,936,734!
I’m looking at $14,458,472 versus $192,443,471 and Parsippany’s 20 contractors versus Jersey City’s 20 contractors. Hmmm.
I believe Jersey City businesses could do a better job of winning government contracts. Any lawful advantage that could be utilized to help win more business should be examined. We should bring those contracts to Jersey City, and employ local residents.
I’ve heard people say that “……JC is crime ridden”. One potential investor asked me, “….if I buy the building and relocated to Jersey City, who would i hire?”. Good question, but it’s obvious to me that Jersey City’s Greenville residents are not being adequately represented. Let’s take a closer look.
While it is true that unemployment in Jersey City is unusually high among 18-24 year old African-American males, at 54%, it doesn’t mean that they don’t want to work, or won’t work. It means that no one is showing them what to do, or how to earn a living in the economy of 2015. Yet, the workers are here.
Mayor Steven Fulop (Jersey City’s Mayor) is progressive, and has the wherewithal to bridge the gap between businesses and local residents to meet in the middle for mutual prosperity. I think Mayor Fulop could be Governor Fulop soon-BTW. No one ever lost an election helping create jobs!
The jobs are here. I did a search for job openings on Indeed.com and found over 14,600 job openings for Computer Support jobs. Over 11,000 of these jobs are paying in the $50K+ range. This data is consistent with data found on City Data which shows the median income for Greenville residents at $55,675 and 44.7% of males working in sales, office and service related occupations while 62.8% of females work in these same type of occupations.
To my potential investor, who asked me “…who would I hire (if I moved my business to Jersey City)?” – here’s my answer. Hire away people already working who live there, or train new workers from the ‘at-risk’ groups and leverage the C&I benefits.
There are 42,435 residents in Greenville, within 10 minutes of 46 – 48 Martin Luther King Dr (your proposed new business location). Using data from the 2010 Census for persons in the work group 20 – 65, I found this group to be approximately 62-63% of the total population. Applying this percentage, there are approximately 26,310 workers that are in the target potential worker age group.
From this group, you could select anyone for training, then temp-to-hire. There are tax credits for training youth and even credits for training seniors.
These tax credits add directly to the bottom line of a business moving into 46 – 48 Martin Luther King Drive.
I’ve spent the last 9 months researching every single advantage available to any business willing to take a serious look at Credits and Incentives (C&I) as I have and other serious competitors are. Rather than hire someone full-time to work on C&I, I’ve priced this into the property at $1,950,000 as a ‘value add’.
I have won, managed, financed and closed out million dollar+ contracts. My take on this, 46 – 48 Martin Luther King Drive is an excellent investment. Not only as a physical property, but there are serious benefits to operating at this location that I would be happy to work with you on. if you’d like to be brought up to speed on this quickly and tap into my network of contacts, and leverage my relationships with ‘key players’ I’d be happy to work with you. Just use the contact form below.
If you already know what’s going on, and have a dedicated C&I person on-board, then it probably would be better for you to skip any information I publish here, and contact the Real Estate agent listing the property. You must move quickly on this because the agent has 5 months left on his contract. You might be able to negotiate a lower price between your real estate agent, and our listing agent on a typical commercial straight commercial offer.