Economic Development

Both before and after Superstorm Sandy, the trend at the Jersey Shore has been toward higher home values, a smaller percentage of housing units being occupied year-round, and an increasing presence of retirees among year-round residents. Is the Shore becoming a playground for the rich? And specifically rich retirees?

With the youngest members of the demographically large Millennial generation (roughly, those born between 1981 and 1996) aging into young adulthood, the number of people between the ages of 25 and 44 increased nationwide by 3.5% between 2015 and 2019. In New Jersey, however, the population in this age range declined by 1.2% over the same time period, with high housing costs appearing as a major motivating factor.

In a session entitled Municipal Approach to Racial and Economic Inclusion held at the 2021 New Jersey Planning & Redevelopment Conference and co-hosted by New Jersey Future and the New Jersey Chapter of the American Planning Association, elected officials explored what can be done to foster more racial and economic inclusion in planning and redevelopment.

Downtown economies need to reimagine retail. With empty storefronts plaguing Main Streets across the state and country, the How to Reinvigorate Retail-Anchored Downtowns in a Post-Pandemic World panel at the 2021 Planning and Redevelopment Conference offered insight about the future of downtown retail amid a time of uncertainty. Recognizing that the pandemic rewarded retailers that were “adaptive, resourceful, and capable of reinvention,” the panel described a large-scale placemaking project in the redevelopment of key sites in downtown Westfield and offered a forward-thinking perspective for attracting and retaining retail.

The COVID-19 pandemic devastated New Jersey in terms of both human life and the economy, but as the state opens back up, there are reasons to be optimistic for New Jersey’s future. There are also demographic and real estate trends that we must proactively counter and remain mindful of as our economy bounces back. Jeffrey Otteau, Managing Partner and Chief Economist at Otteau Group, presented facts and figures to show where we’ve been, as well as projections to show where we’re headed, during The Future of New Jersey: An Economic Forecast keynote session at the 2021 Planning and Redevelopment Conference.

The Economic Opportunity Act of 2013 included additional incentives for projects destined for “smart-growth” areas. This report analyzes how effective the updated incentives have been at directing growth to those areas. December 2014.

2016 Smart Growth Awards: Alfred C. Koeppe, business leader and champion for economic development in New Jersey, is the recipient of the 2016 Cary Edwards Leadership Award.

This report and related case studies summarize the state of urban water infrastructure in New Jersey and how it affects residents and businesses. May 2014.

2013 Smart Growth Awards: Diane Sterner, the founding executive director of the Housing and Community Development Network of New Jersey is the recipient of the 2013 Cary Edwards Leadership Award.

2014 Smart Growth Awards: Joe Maraziti Jr. Esq., a pioneer in the fields of redevelopment and environmental law in New Jersey, is the recipient of the 2014 Cary Edwards Leadership Award.