Large-scale redevelopment in Trenton’s industrial areas should be encouraged to help create a more sustainable diverse economy in the City with new employment opportunities. The City must make land available specifically for industrial development and its unique infrastructure requirements, assist with acquiring the land, and facilitate the land development process. To carry this out, the City must encourage the redevelopment of key parcels in the vicinity of Route 1 and New York Avenue targeted for industrial development. Many redevelopment opportunities exist in this vicinity, This area would be ideal to accommodate more traditional light industrial users, such recyclers and warehouse companies, as well as med/tech companies, small manufacturers, high-tech companies, and startups.
This effort should first involve creating and maintaining a searchable database of key industrial sites – both those assembled for larger-scale development as well as smaller parcels – available for development that can be easily accessed by prospective developers and/or industrial companies seeking locations to build a new facility. The City should then actively market these sites to potential developers. This could involve direct outreach and marketing to the City’s preferred developers. The developable parcels should be well-advertised to attract desired industries and firms and ensure the best projects. Furthermore, economic incentives (e.g. the Grow New Jersey Assistance Program and the Economic Redevelopment and Growth Grant Program) for commercial and industrial development should be clearly promoted on the Economic Development Division’s website.
There are a number of initiatives in this Master Plan which call for better advertising and marketing of development opportunities. These include better promotion of downtown opportunities to developers, as well as adverting the City’s high-quality water and low-cost energy supply to industrial firms. Once the City is able to acquire and assemble industrial properties, it will also need to begin aggressively marketing those. The following actions must be coordinated with this effort: