Posts Tagged ‘economic cycle’

Unlike other industrial towns that have re-invigorated themselves (Pittsburgh, Jersey City and even Newark) Trenton has been left behind. Trenton’s Mayor Palmer is a nice guy and seems to mean well but just hasn’t been able to steer the city towards any meaningful revitalization. For the past 17 years during the Palmer administration, we’ve been treated like a welfare state chasing every government handout available and with predictable results. We’ve chased away high income residents and attracted poverty.

The facts speak for themselves.
According to the U.S. Census Bureau, from 1999 to 2006 New Jersey’s per capita income has risen 18% while Newark’s has risen 24% and Jersey City a whopping 29%. Meanwhile, Trenton has lost ground with a meager 9% gain in the same seven years moving from $14,621 to $15,933. In 2006, while Trenton was busy electing the mayor that delivered these sad results, the city’s per capita income actually shrunk by 0.4% while New Jersey, as a state, grew 1.3%, Newark gained a respectable 4.8% and Jersey City grew an astounding 14.6% and

Given Trenton’s abysmal record it’s clear that the current administration either doesn’t really want to fix the problem or just doesn’t know how. Furthermore, it pains Trentonians to see the US Conference of Mayors being led to believe that Trenton is a model of economic revitalization. It clearly is not!

As a long time Trenton activist, real estate investor and student of urban economic issues I’m offering this paper as an alternative approach to Trenton’s revitalization.

Read the rest of this entry »