Patrick Boylan wrote:I would be interested to see the statistics that might show there's a general decline of suburban office parks, and not just examples of 2 companies that moved out of the state without mentioning if they just went to a suburban office park somewhere else, or examples of businesses springing up without mentioning if they vacated suburban office parks which had trouble finding tenants to replace them.
Can't speak for the original poster—I just added some companies that were in the news recently. Hertz is moving to FL because tourism (makes sense!) Roche is moving out San Francisco because that's where their parent company is HQ'd and to offices in NYC. Doesn't mean that suburban office parks are dying, but there is statistical evidence that college grads over the last 20 years are drawn more to cities than to suburbans. One can hypothesize that companies have to go where the workforce is or where the hot bed of the industry is. You also have to factor taxes which we all know NJ has high taxes.
Moving back a little on how this equates to light rail in a few ways
1. Roche is located right next to abandoned ROW that runs from Newark almost to Paterson. We've all mentioned the possibility of light rail running there. This might make stoke the fires for a feasibility study if the Nutley and Clifton are looking for ways to fill the void
2. Use of the Urban Transit hub tax credit has encourages economic growth and use of mass transit in urban areas. Systems like the HBLR, NLR, the River line and commuter rail are valuable assets in promoting this. Christie has been pushing the tax credit especially in Newark to draw interest to downtown, to make the city less dependent on state aid, and promote job growth. The new Panasonic HQ in Newark is next to Newark Penn and they plan building a plant in Harrison. Prudential is building their new office tower(s) right across from the Military Park light rail station. The same benefits could draw people to Jersey City and surrounding communities