Harvey Smith Answers Our Economic Questions

Jersey City’s unemployment rate is the highest it’s been in five years. What would your administration do to help bring it down?

This is obviously a national problem that affects us here in Jersey City even more. But it is most painful in our inner-city neighborhoods, where the unemployment rate can be as much as double the national rate. We need to take advantage of whatever federal dollars are available to stimulate economic activity west of Marin Boulevard. Our commercial districts (West Side, MLK, Summit, Newark Ave.) need our attention. We need to stimulate local small business growth, which can hire local people. It’s great that more people are recognizing our city as a great place to visit and live in. We will continue to do what’s necessary to stay competitive as a city, but we have neglected the vast majority of our city. In my administration we will change that mindset.

In terms of economic development, what would your main goals be?

As I said, we will refocus our attention to the rest of our city. We have commercial districts that used to be the economic engines for their own communities. West Side Avenue and Summit Avenue and Martin Luther king drive, not to mention Journal Square need our attention now. Local business, local jobs, for local entrepreneurs and local workers. The waterfront developer must recognize his responsibility to the city as a whole and that includes helping to create economic opportunity on the other side of town.

What would your administration do to encourage small business growth in the city?

The UEZ and SID programs need work better for us. We need to rethink our local shopping districts. We need to make them a place where local people want to go. We’ll provide assistance to entrepreneurs who want to open up some of those empty spaces on MLK. Summit Avenue should be a gathering spot for local shoppers. I know so many young people who want to open their own businesses but just don’t have someone to say “Come this way.”  We would love to have seed money for small business but that is hard to find in this economy. But we have city resources, computers and technical support people and lawyers and engineers. Their expertise could be put to use in small business development programs.

We need an all hands on deck approach to business development. Chamber of Commerce, neighborhood groups, colleges. We need to start thinking small. Small business.

Do you believe that there is a disparity within the city in terms of economic development? If so, what would you do to remedy that? If not, why not?

That is the understatement of the year. The inner city has been ignored by the current administration. The mayor sees progress as tall towers and condos. The city needs a mix of economic development, from finance to factory. Those finance jobs are not going to our long-time residents. Back in the day, the waterfront was a source of good jobs for our residents, but they have not benefitted from the recent waterfront development.   Going forward, we need to pay more attention to small business development in our commercial districts.

Do you believe that Jersey City faces a large property tax increase like Hoboken and West New York? If so, what could your administration do to soften the blow? If not, why?

Any mayor of Jersey City over the next four years has to expect some chickens to come home to roost, whether it’s the potential collapse of the commercial real estate market or a continued national economic downturn. The one who knows what the real budget crisis is is Mayor Healy.  My budget process will be open and it will be honest. It won’t be built on the backs of homeowners while business interests get favorable terms on taxes and city services. If there is a reval, we had better have our budget house in order. I’ll start from there and work the crisis as it presents itself.

Do you think the city has an adequate amount of public housing and housing for low-income residents? If not, what are your plans to remedy that situation? If so, please elaborate.

We need to refocus on the inner city by leveraging our waterfront real estate for affordable housing. Developers have gotten a great deal with tax abatements and other incentives. Yet, they pay very little into an affordable housing fund and then wipe their hands of their corporate responsibilities. Big-time developers should do much more, should contribute more dollars and should embrace all of the city they build in.