Sunday, September 13, 2009

Are new businesses headed to Mercer County, New Jersey?

If the New Jersey Economic Development Association is successful with their plans, new businesses may soon consider relocating in Mercer County.  The New Jersey EDA has asked the commercial real estate industry to help market New Jersey and attract new businesses.  They are specifically looking for leads in the pharmaceuticals, financial services and logistics industries.  According to Caren Franzini, executive director of the EDA, realtors are the sales force for the state. 

The government agency is not taking this mission lightly and neither should our realtors, both commercial and residential.  Realtors are truly on the front line for economic development for they are often the first to know when tenants are looking at moving in or out. With help from the EDA, they will be able to offer incentive packages to help them stay or relocate.

How does the commercial real estate market affect the residential market?  Well quite simply, as I am sure you can imagine new businesses often bring new people to a community to work and raise their family.  When economic development efforts are effective, the jobs created provide better paying jobs for the residents already living in a community and the ability to purchase goods and services increase.  The trickle down impact has worked in communities time and time again.

What would cause a company to consider the Mercer County area?  I believe that location - half way between New York and Philadelphia is the best reason with affordability coming in a very close second.  Moreover, we have the infrastructure in place for the three targeted industries.  It is much easier to relocate a business when there is a cluster of support.

The ideas proposed by the New Jersey Economic Development Agency have merit.  I'll be watching to see how the campaign goes, but in the meantime, it is business as usual.  Let me help you find your New Jersey home today.  Take a look at my website NJ Home Source and then call me at 609-658-2612 to get started on your own economic development plan.

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