Offers programs and services to create, retract and obtain businesses in Bergen County
One of Bergen County Economic Development Corporation’s (BCEDC) top priorities last year was compiling and analyzing data to best design programs and services that meet the needs of businesses in Bergen County.
The county boasts many attributes that people often refer to in a broad sense: high quality of life, access to a rich and diverse selection of arts and cultural activities, and an abundant transportation infrastructure.
BCEDC looked even further and found that Bergen County is home to 18 Fortune 500 Companies’ headquarters or major facilities with over 100 employees. Additionally, United States Census Bureau data reveals that 91 percent of the county’s population has a high school diploma, 46 percent of the population has a Bachelor’s degree or higher, and the median household income is $79,272. These attributes uniquely position the county as a front runner for continued economic growth.
The fastest growing industry is healthcare/social assistance with 75,950 jobs expected by 2018, according to the New Jersey Department of Labor Workforce Development. This projection is significant for Bergen County as healthcare is its largest industry.
Last year BCEDC assisted 152 businesses and created a marketing and speakers bureau program. We also kicked off the Listening to Business Initiative (LBI), visiting 12 of Bergen County’s largest employers which provide over 20,000 jobs. We compiled demographic and market data for the county, as well as individual profiles for all 70 municipalities. This year we plan to continue our retention efforts through the LBI and find new opportunities to attract investment. We aim to create an environment where entrepreneurs want to innovate and grow.
- Lease expiration follow-up – Retention & Attraction
BCEDC follows-up with companies that have an expiring lease within as well as outside the county. This program allows us to retain companies by engaging them early in the process of their investment/reinvestment plan. It also attracts new companies located outside the county that may consider relocation.
- New business outreach letters – Retention
Letters signed by directors of the BCEDC, Workforce Investment Board (WIB) and the Small Business Development Center (SBDC) are sent quarterly to all recently registered businesses within the county. This welcomes the new company to the county, thanks them for their investment and introduces them to our services.
- Listening to Business Initiative (LBI) – Business outreach to 20 largest employers – Retention
Through the LBI we have met with 12 of the county’s largest employers. That leaves only eight more to reach our goal of 20. The three main purposes for this effort are to:
- gather feedback by asking targeted questions of the county’s largest investors regarding but not limited to expansion plans, product creation/expansion/innovation, workforce needs, investment plans, strengths and weaknesses of doing business, and positive/negative legislation.
- introduce companies to economic development programs and services that they may not otherwise be aware of that can offset the cost of doing business.
- create a relationship with BCEDC and the county to provide continued company assistance whenever necessary
Brownfield redevelopment- creation & attraction
The BCEDC and the Bergen County Department of Planning & Economic Development are partnering with NJ’s Office of Planning Advocacy to identify and market larger brownfield sites for redevelopment . This program is a win for both the developer/investor and Bergen County. By identifying these sites and providing details to potential investors, this program expedites the process of redevelopment while simultaneously helping the county maximize property to its highest value and best use.
- Data to promote the county’s attributes – Retention & Attraction
BCEDC maintains demographic and market data to assist companies making relocation and expansion decisions. The most frequently requested data is available on our website (www.co.bergen.nj.us/bcedc) but we also have the ability to customize data to meet a client’s specific needs. Information can be requested through a phone call, email or web based customized report. This allows potential and existing investors to understand the attributes and opportunities within Bergen County’s marketplace.
About Bergen County Economic Development Corporation (BCEDC)
BCEDC is a partnership of business, government and economic development allies dedicated to leveraging resources, fostering investment and delivering programs and services that result in business retention, attraction, creation and economic growth for the economy of Bergen County.
BCEDC looks to a partner with and support businesses whenever possible. Contact us for assistance regarding economic development programs & incentives, permitting, site selection, demographic/market data needs and much more.
For more information please visit our website at www.co.bergen.nj.us/bcedc.