The Renaissance of Paterson
September 19th, 2014
With a population of more than 150,000 residents, making it the 3rd largest city in New Jersey, Paterson is undergoing a rebirth of sorts in recent years. CIANJ participated in a roundtable discussion this week with state and local leaders to hear how Paterson has transformed itself with new development, investment and a focus on bringing in new private sector jobs. St Joseph’s Regional Medical Center is leading the way with plans to expand its operation. The hospital has partnered with New Jersey, developers and the New York Medical College to develop a new hotel and conference center, called the Hamiltonian, and a medical school. Accurate Box, Inc., which employs more than 200 employees, recently decided to keep operations in Paterson due in part to a $39 million GrowNJ tax credit from New Jersey. With a US National Park in the Great Falls of Paterson, its proximity to New York City, and an abundant & educated labor force, Paterson will continue to grow.