Tai Cooper Ignite! Redevelopment Presentation

1. Stop, Collaborate, Listen!
Tai Cooper
Senior Vice President – Policy and Communications New
Jersey Economic Development Authority

2. Stop, Collaborate, Listen!
Tai Cooper
Senior Vice President – Policy and Communications New
Jersey Economic Development Authority

3. New Jersey Economic Snapshot
3
State GDP: $634 billion (3.1% of U.S. GDP, 22nd Economy Globally)
Population 8.9 million (11th in the nation)
1,022 People per square mile – most densely populated state
Ranked #4 for Foreign Direct Investment
#3 busiest seaport in North America
#1 best public school system in the United States
597,564 post secondary students
99% of residents have access to wireless internet
Per capita Income: $64,537 (#4 in U.S.)

4. New Jersey’s Competitive Advantages
Where We Are Who We Are
Location
Infrastructure
• Heart of the Northeast Corridor – 20% of
U.S. GDP
• New Jersey /New York metro region are the
#1 distribution market in the U.S.
12 commuter
rail lines
2 Class I freight
railroads
Busiest sea port
on the East
Coast
Newark flies to
110 cities and
130 intl.
destinations
4 of the top 6
U.S. cities for
connectivity
• Highest concentration of scientists and
engineers per square mile in the world
• Nearly 39% of the workforce has a bachelor’s
degree (#5 nationally)
• Nearly 15% has an advanced degree (#7)
• 4th most diverse state in the nation
Diversified Economy
21 Fortune 500 companies
Largest industries include:
• - Life Sciences
• - Technology
• - Financial Services
• - Telecommunications & Media

5. Key Challenges
Economic stagnation
SOURCE: Bureau of Labor Statistics, United Way Alice Report, US Census
Growing inequality
1 Compound annual growth rate
Northeast peers include Connecticut, Delaware, Maryland, Massachusetts, New York, Pennsylvania,
Rhode Island, Virginia
2 Non-farm employment
Real median wage
growth
CAGR1, 2007-2017
Employment growth2
CAGR1, 2007-2017
Top 10
United States
Northeast
New Jersey
0.8
0.2
0.1
-0.3
1.2
0.4
0.6
0.1
Top 10
United States
Northeast
New Jersey
-0.8
1.2
0.7
1.7
49th 42nd
47th
Of residents cannot
afford basic needs —
e.g., house, child care,
food, health care
Change in poverty rate
Percentage points, 2006-2016
Venture capital decline
50% decline in venture capital investment since 2006

7. Investing in people to
help all New Jersey residents
find meaningful work
Investing in
communities
to build world-class cities,
towns, and infrastructure
Making New Jersey the
State of Innovation
to create more and better jobs
across the state
Making government
work better
to improve New Jersey’s
competitiveness and business
climate
1 2
3 4
4 strategic priorities

8. A Whole of Government Approach
Economic
Development Authority
Department of
Environmental
Protection
Housing and Mortgage
Finance Agency
Department of
Community Affairs
New Jersey
Redevelopment
Authority

9. Jobs NJ: Developing Talent to Grow
Business in the Garden State
1 Ensure all career-seeking New Jerseyans have the education and
training necessary to access high-quality employment
Ensure businesses and employers that are offering high-quality employment in
New Jersey can quickly and efficiently fill their talent needs2

10. Strategy 1: Expand Access to Opportunity
Aspirations by 2025
Ensure 250,000 additional Black, Latinx, and
Native American individuals attain post-
secondary credentials
Close the racial and gender wage and
employment gaps by employing 42,000 more
women and minorities and increasing wages by
$15,000-$23,000
Raise postsecondary credential attainment in all
counties to at least 45 percent
Key New Initiatives
Launch the Opportunity Meets Innovation
Challenge: Award grants to implement best
practices that increase college completion
Make College More Affordable: Establish
transparent, predictable, and guaranteed higher
education pricing
Expand Access for Targeted Populations:
People with disabilities, ex-offenders,
immigrants, and veterans

11. Strategy 2: Train Individuals for In-Demand Jobs
Aspirations by 2025
Increase the number of post-secondary
graduates employed in high-demand industries
by 10 percent
Ensure at least 25,000 additional adults enroll
and graduate with a high-quality credential
Key New Initiatives cont.
Create Pathways for Younger Residents:
Advanced courses for high school students and
NJ Career Accelerator Internship program
Increase On-the-Job Training: Expand
apprenticeship and experiential learning
opportunities
Support Rapid Re-Employment and Lifelong
Learning: Launch Re-Employment Insurance
Program (REIP) and implement Future of Work
Task Force recommendations
Key New Initiatives
Provide Customized Support for Growing
Industries: Develop sector-specific
programs
Connect Education to In-Demand Career
Opportunities: Ensure students are learning
skills employers seek

12. Strategy 3: Match Talent to Jobs
Aspirations by 2025
Complete Talent Action Roadmaps for at least
100 companies
Celebrate 200 Governor’s Choice employers
Annually publish materials on high-demand
jobs and pathways to rewarding careers
Key New Initiatives cont.
Launch NJ Talent Solutions: Bring together
government agencies to help businesses solve
talent challenges
Launch the New Jersey Career Network: A
pioneering digital coaching and support
platform for job-seekers
Expand Customized Training Programs:
Department of Labor (DOL) to expand training
programs tailored to company and sector
needs
Launch the Governor’s Choice Employer
Program: Recognize companies with exemplary
hiring and career development practices
Publicize High-Demand Jobs Data: Release
“High-Demand” jobs report and two career
pathway maps annually
Attract Talent: New marketing effort to
ensure global talent pools are aware of
New Jersey’s benefits
Key New Initiatives

13. Expanded Brownfields Programs

14. NJEDA’s New Expansion
of Brownfield Work
• Internal & External Integration & Partnerships
⮚ Community Collaborative Initiative
⮚ Opportunity Zone Alignment
⮚ Environmental Justice
⮚ Climate Resilience
• NJEDA Applying for EPA RLF Brownfield Grant
• NJEDA Brownfield Loan Program
• NJIT Brownfield Assistance Center

15. Expanded Community Collaborative Initiative
Genesis - Camden
Successes – Paterson & Perth Amboy

16. Education & Technical
Assistance
Community Collaboration
Initiative
Financial Tools & Assistance
EDA Actions • Collaborate and Oversee Technical
Assistance Center
• Expert Speakers
• Collaborate and Partner w/ NJDEP
and Other Agencies
• Provide Guidance
• Share Success
• Funding
• Oversee & Administer Financial
Programs
• Create Programs
NJDEP
Actions
• Quarterly BF Roundtables
• Expert Speakers
• Oversee CCI
• Embed Staff / Ombudsman
• Brownfield Inventory
• Established trust in community
relationships
• Engaging Other Agencies
• Partnerships
• Assist - Identify Project Pipeline /
Market Programs
BAC @
NJIT
• Targeted Assistance
• Design Workshops
• Resource Center
• Develop Success Stories
• Engaging Other Agencies
• Develop best practices blueprint to
incorporate resilience and
sustainability activities
• Partnerships
• Market Programs
Brownfield Assistance Center

17. Opportunity Zones

18. New Jersey’s Opportunity Zone Strategy
Attract Opportunity Fund investments
Stimulate redevelopment, business
growth, and job creation
Promote inclusive and equitable
development
18

19. State Government’s Role in OZ Strategy
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“One-Stop-Shop” website
New Jersey Community Asset Map
Digital Marketplace
“Ready to go” project pipeline
Technical assistance forums for
communities
Resources for entrepreneurs in
Opportunity Zones
Engage industry membership orgs &
chambers of commerce to educate about
OZs
1
2
3
4
5
6
7
Resources for
investors,
municipalities, and
residents
Helping
municipalities
leverage their
Opportunity Zones
Supporting small,
minority and
women owned
businesses
participation in OZ
projects

20. A 360 Degree Approach to OZ Investment
20
Opportunity Zone Challenge
Community Collaborative Initiative
Opportunity Zone Marketplace
Apprenticeship Programs
Small Business Support
Revitalized Main Street Program
Brownfields Loan Program

21. @NewJerseyEDA
Visit NJEDA.com for
more information.