October 1, 2018

Mayor Bhalla's Statement Regarding Governor Murphy's Economic Vision for New Jersey

Thanks to Governor Murphy, New Jersey is poised to become a national leader in the innovation economy. The $500 million New Jersey Innovation Evergreen Fund, announced by the Governor earlier today, will allow the State to invest in and partner with start-up companies that agree to locate and operate in New Jersey. Investing through public-private partnerships like this, rather than simply offering traditional tax incentives, gives New Jersey a competitive edge to attract entrepreneurs to make their start in our State.

There is perhaps no place better situated than the City of Hoboken to be home to innovative start-up companies. Hoboken has millions of square feet already zoned for economic development at the Northern End and the Hoboken Rail Yards, two of the most attractive locations for new businesses in the country. With access to public transportation, including train, light rail, bus, PATH, and ferry, coupled with Hoboken’s public parks and waterfront, our City provides the ideal quality of life for any start-up to recruit top-tier talent.

We finally have a Governor with the guts to take bold action and find innovative solutions to bolster New Jersey’s economy. I support the Governor’s initiative 100%, and Hoboken stands ready to be a partner in developing more homegrown, New Jersey companies.