FACT SHEET: James Solomon’s Plan to Promote Small Business and Economic Development

Jersey City has had a great deal of growth in the last two decades, but that growth has split the City, increasingly leaving many residents behind.At the same time, despite the growth and desirability of Jersey City, the current Administration has not attracted any new anchor institutions and small businesses are struggling from high costs and endless red tape. The result is that even as Jersey City’s population has grown by roughly 30% in the last 15 years, the number of jobs here has been virtually stagnant for almost a decade, and fewer than 20% of our residents also work in the City.

So Jersey City is increasingly at risk of being split between two worlds—an expensive bedroom community for New York, and the remaining underinvested neighborhoods where residents have few opportunities to work here and increasingly cannot afford to stay in the City they love. But this path is not inevitable—it is the result of deliberate choices to hand over the trajectory of the City to developers, disinterest in helping businesses and companies get off the ground and grow in Jersey City, and the neglect of investment in poorer, predominantly minority neighborhoods.

As Mayor, James Solomon will fight to stop this slide, open up opportunities to live and work across the city for residents of all backgrounds, and bring investment to communities that have not seen the benefits of the last decade of growth. Jersey City still has the chance to become a model for inclusive growth that maintains our diversity, while becoming a true beacon of economic opportunity.

1. Take back control of the planning and growth of the City from developers, to reduce housing costs and create more jobs for residents.

  • Take control over the City’s growth back from the developers that have bought our politicians, using the City’s powers to secure thousands of new affordable units and break down barriers for businesses. 
  • Appoint a Deputy Mayor for Affordable Housing and Economic Development to make sure the City hits its affordable housing goals, attracts and retains companies and small businesses, and brings investment to the neighborhoods that haven’t shared in the City’s growth. 
  • Strengthen the Jersey City Economic Development Corporation into a true advocate for Jersey City and its small businesses.

2. Create thousands of homegrown job opportunities by attracting anchor institutions and supporting small businesses.

  • Fully overhaul the City’s permitting, licensing, and inspection processes to eliminate the red tape that is choking our businesses. 
  • Exempt small businesses from the City’s payroll tax on non-resident employees. 
  • Leverage state tax credits for projects that promote long-term job growth and housing affordability, rather than poorly planned projects like the Pompidou. 
  • Create a task force to evaluate the City’s vacant and under-leased commercial space, and explore conversions that would provide greater benefit in jobs or housing to the community. 

3. Aggressively promote economic revitalization across the City, especially in the communities that have been left out of Jersey City’s recent boom.

  • Target empty storefronts and promote retail and commercial growth by reforming land use policies throughout the City. 
  • Keep a laser focus on promoting investment in key commercial corridors like MLK Drive, Ocean Avenue, and West Side Avenue, in collaboration and consultation with the community. 
  • Implement a minority procurement program to ensure fairness in City contracting. 
  • Competently implement major projects like Bayfront that will shape the future of the City. 
  • Maintain and expand our industrial and manufacturing jobs to ensure opportunities for workers of all backgrounds.