What Ewing Business is Getting a $2.125M Boost?

June 29, 2015

The Trenton-Mercer Airport, located in Ewing, NJ, will be receiving $2.125 million as part of a state grant program specifically created to add value to New Jersey’s airports through improvement projects. County Executive Brian Hughes says “I think this recognizes that the Trenton-Mercer Airport is of regional importance.”

The Trenton-Mercer Airport is home to Frontier Airlines, who has flown out of Ewing since 2012.

Read the full story here.

Companies Want Quality

June 16, 2015

The Princeton market is seeing a trend- companies moving to new space not because they need to expand, or shrink- but because they want an upgrade. Current building stock, an uptick in the economy in general and the need to create a work environment that will attract quality talent are all helping to herd companies toward higher quality buildings. Landlords with lower rental rates are helping, too.

Read the full story on njbiz.com.

Glut, defunct & stranded: What do these words describe?

June 4, 2015

NJBiz uses these words (in the article linked below) to describe suburban corporate campuses in New Jersey- with enough combined square footage to fill five Empire State Buildings.

PlanSmart NJ has taken on the task of developing a “toolkit” of sorts for municipalities to begin to deal with the 14.5 million square feet of vacant, obsolete office and/or lab space in 94 of the state’s largest (over 200K sf) buildings. These campuses that dot New Jersey’s suburban landscape are often referred to as “stranded assets” and will need some creative thinking to reposition them.

“We’re looking at it holistically — that this is an economic development project, it’s an environmental protection project, it’s a resource efficiency project,” said Ann Brady, PlanSmart NJ’s executive director. “We think there’s a lot of opportunity with these sites, to better connect them to the greater community, to use the infrastructure that’s already there, so we’re directing growth to areas where there’s already existing infrastructure.”

Oftentimes municipalities fear redevelopment, rezoning and mixed-use projects. PlanSmart NJ “hopes to frame the issue by quantifying the problem” with “a major two-year research project that will compile data on vacancy, demographics, property tax appeals and other metrics related to the sites, with the aim of creating a guidebook for local officials and sparking a policy change that could help them find new life as mixed-use assets”.

Read more in NJBiz.com here.

 

How are NJ’s incentives doing?

June 2, 2015

We’ve posted a lot about New Jersey’s current incentive packages aimed at both retaining current jobs and businesses within the state’s borders and also attempting to attract new businesses and jobs.

There are both fans and critics of these programs, as with most things. In an attempt to get an unbiased answer on whether or not these incentive packages are doing their job- Rutgers University has been given the task of figuring just that out and will start researching and releasing reports in the next 3 years.

Read more here.