Trenton will have a strong, diverse, and sustainable economy with a broad range of employment opportunities
To successfully build a Premier Economic and Cultural Center, the City, County and State must abandon their efforts to create “silver bullet” solutions to the City of Trenton’s challenges and begin strategically investing in efforts that will build a healthy sustainable economy that provides opportunities for a diverse community.
The key to meeting Trenton’s long-term economic development goals lies in unlocking its potential by building off of strengths. To accomplish this, this Report recommends focusing on simultaneously strengthening the three key pillars of Trenton’s economy:
- the downtown
- the industrial areas, and
- the neighborhoods.
Each of these areas has relatively unique challenges and solutions, but success in these areas will have a city-wide impact. In addition, this report makes city-wide recommendations on how to strengthen the economy.
The following report outlines initiatives that the City can begin immediately and which can be implemented simultaneously. Moreover, each initiative will reinforce efforts to develop and attract industries with regional strength into the city, nurture the city’s workforce and make capital of available land, increase tax revenues, and place more money in the pocketbooks of residents, making neighborhood retail more viable. A stronger downtown will be more attractive to regional employers and professional workers looking for high-quality places to live, which will, in turn, bring jobs and economic opportunity to all residents. This evolution will further the appeal of downtown, luring even more higher-wage industries and companies to Trenton. Moreover, stronger neighborhood commercial centers will make neighborhoods more attractive to new and current residents, strengthening efforts to make Trenton a regional destination.
These initiatives will:
- improve the retail environment;
- create new development and business opportunities in key locations;
- create an improved business environment that provides high-quality employment to residents;
- take advantage of the region’s employment strengths and growth areas;
- strengthen Trenton's arts, culture, and heritage tourism; and
- promote all of these attributes to the outside world.
With multiple departments working in coordination, including both Economic Development and Planning Divisions, the City will maintain an environment that is conducive to accomplishing these initiatives through a series of detailed actions, outlined below.