As we prepare for the next governor and potential changes in the Legislature, it is important to recognize what New Jersey has accomplished in the last several years, continue this momentum and support these programs and initiatives. Our economy is certainly getting better, based on all the construction taking place and today’s low unemployment rate. Affordability and stagnant wages, however, remain challenges to many and are a big reason why a huge proportion of millennials are still living at home with their parents. Without immigration, our population would be dwindling.
Office
New Jersey’s office market is evolving by the day, but this fact remains: The state’s location and educated workforce make it a highly desirable place for tenants of all shapes and sizes.
A growth area in the making?
We set out this month to look at the role of technology companies in New Jersey’s office market. The tech sector certainly isn’t the dominant industry in the state’s economy, but it has provided a rare source of job growth in the last few years that has resulted in new office requirements. We’ve seen companies such as Audible, iCIMS and Jet.com lease space in New Jersey thanks to both state incentives and the type of organic growth that landlords would love to see continue.
