(Jersey City) For those in the know, the smart money is heading to Jersey City. This doesn’t just include housing, but key industries are looking at areas once overlooked and blighted.
While everyone couldn’t help but notice JP Morgan Chase as they announced their bold strategic stakehold in Jersey City; the recent move by datacenters to Jersey City is getting attention.
And Jersey is deadly serious about giving incentives for businesses to make the move. Everyone ‘in the know’ is talking about C&I “Credits & Incentives” and how these can play into savvy investment strategies. One firm was recently given millions to move.
While some criticize the deal, I was told that First Data was in a temporary space on a lower floor. The ‘powers that be’ wanted First Data to make a long term commitment, so they gave them a deal that was too good to pass up. Sweet deal for First Data! I would have done it too.
Jersey City’s government is also making moves to foster growth in other areas besides the waterfront. JC’s City Hall Annex to be located on Martin Luther King Drive will bring new life to the area. While some are critical of the deal basically saying “….why rent when you can own?”; others say this deal will have a direct and bold impact on economic development in the area. Based on my experience in finance and banking, looks a lot like a CTF type deal to me.
In my next post, I’ll discuss 1031 exchanges, and how to take advantage of the opportunities in Jersey City while they last.
ALL HANDS ON DECK AS JERSEY CITY JOB TRAINING TAKES CENTER STAGE
(Jersey City, NJ) Nationally known strategic partners from BOTH political parties were on hand to support Jersey City Mayor Steve Fulop’s concentrated focus on job training, reducing crime, and business development.
Mayor Steve Fulop Greets House Minority Leader Nancy Pelosi at the Martin’s Place Training Center Grand Opening
Mayor Fulop is demonstrating his unique ability as a ‘consolidator’ by bringing everyone together to focus on the number one issue I believe facing the revival of one of Jersey City’s communities – JOBS! At center stage is reducing crime, and helping people successfully re-enter society and becoming productive members of the community.
Rep. Nancy Pelosi Addresses the Community at Grand Opening of Martin’s Place Job Training Center in Jersey City
Showing strong support for Mayor Fulop’s initiative were Sen. Bob Menendez (D), former Gov. Brendan Byrne (D), former Gov Jim McGreevey (D), Gov. Chris Christie (R) and former Gov. Thomas Kean (R). You can read more about this event HERE.
Former Gov Jim McGreevey at Grand Opening of Martin’s Place Job Training Center
There can be no doubt that there will be a renewed focus on job training and related services. The MLK corridor is an excellent location to relocate your existing community based organization.
The property at 46 – 48 Martin Luther King Drive is ideally suited as a strategic community center and can serve as your headquarters are service delivery location. A number of grants, and contracting opportunities are available to assist the new property owners serve the community.
If you’d like to work with someone who has job training and contracting experience, feel free to use the tool below and someone will get back to you.