The U.S. Economic Development Administration (EDA) has recently approved an economic development strategy coordinated by the Watson Institute for Public Policy of Thomas Edison State University, paving the way for future EDA grants that support regional economic and workforce development in New Jersey.
“The approval of this document recognizes the importance of integrating standard economic development work with the long-term efforts of overcoming structural barriers to economic success,” said Barbara George Johnson, executive director of the Watson Institute. “What makes our plan unique is that it includes several projects that involve the public and private sectors which are designed to benefit a seven-county region in North Central New Jersey.”
The comprehensive, urban-focused economic development strategy focuses on 19 municipalities, including Asbury Park, Bayonne, Bloomfield, East Orange, Elizabeth, Hoboken, Irvington, Jersey City, Lakewood, Neptune, New Brunswick, Newark, Orange, Passaic, Paterson, Perth Amboy, Plainfield, Roselle and Woodbridge. It is also one of only a few plans approved by the EDA that was not developed by a government entity.
The development of the plan was a collaboration of partners led by the Watson Institute that included the New Jersey Urban Mayors’ Association, mayors of all 19 municipalities covered in the strategy, educators, librarians, state agencies, small business leaders and business leaders, including the healthcare community.
“Urban hospitals are a critical part of their communities, both as providers of essential healthcare services but also as major employers and economic engines," said Betsy Ryan, president and CEO of the New Jersey Hospital Association. “NJHA welcomes the opportunity to be part of this statewide dialogue, for the health of our hospitals, but more importantly for the well-being of the communities they serve.”
George Johnson said the timing of the plan’s approval is critical as transitional aid continues to decrease, which can hit cities hard – especially those with many governmental buildings and other non-taxable entities that add to the challenges of collecting enough property taxes to close budget gaps.
“This planning document is a roadmap to creating opportunities and jobs across a variety of sectors that will not only boost our economies, but truly change our residents’ quality of life," said Wilda Diaz, mayor of Perth Amboy and president of the New Jersey Urban Mayors’ Association. “I am thankful to The John S. Watson Institute for Public Policy for their forward thinking and pioneering capacity building for urban communities.”
The approval of the plan was several years in the making. The institute received initial funding from the EDA in 2010 to conduct research and assessment of economic development opportunities in the 19 municipalities. A second grant awarded in 2013 supported the development of the comprehensive strategy.
“The approval of the plan is significant because without an approved strategy, participating municipalities and their partners are not eligible for EDA funding that supports regional economic and workplace development,” said George Johnson. “We are grateful to everyone who participated in this process and welcome new partners to join us as we move forward.”
The consortium of partners now has five years to apply for EDA funding to implement the projects in the plan. George Johnson said that a strategy committee will be created to work with EDA to determine the best way to prioritize projects in the plan and apply for funding.
“Our goal is to create opportunities that support sustainable businesses and job growth which enable our citizens to have livable wages and careers that allow our communities to thrive,” she said.
Toni M. Terry, BA