Wall Street West
A century ago as tens of thousands of immigrants passed through Ellis Island (which actually is part of New Jersey), they looked to this new land as the land of opportunity. Many of them settled in Jersey City and the northern part of the state; others moved on via the Central New Jersey Railroad to points all over the country. In this land of opportunity, many found prosperity by converting their hard work and sweat into wealth. America provided the freedom and opportunity, and they provided the rest.
Today, America is still the land of opportunity, and Jersey City represents the "golden door" to that opportunity.
The community believes that if the opportunity to succeed is provided, hard-working individuals and companies will not only take advantage of it, but that they will succeed.
The Philosophy Must Work!
In 1994, 10 major firms relocated to Jersey City, bringing in more than 6,000 jobs. Many of them based their decision to relocate on the successful track record of the 1980s which witnessed a renaissance in Jersey City. Nearly 30 firms moved to or opened offices within the city during the decade, and the skyline not only of the waterfront but downtown as well, was totally transformed from rail yards and warehouses along the Hudson to sleek, modern office towers and developments.
Several billion dollars were invested in Jersey City during the 80s and early 90s. This investment renovated not only the appearance and image of Jersey City, but also the city's infrastructure.
Aside from bridges, highways, public transportation and the usual things thought of as infrastructure, Jersey City's "information infrastructure" was re-wired with fiber-optic cable and other high-tech devices, making it an ideal location for corporations depending on a solid information link with the rest of the world.
Wall Street West
Jersey City was the only one of New Jersey's six largest cities to gain both in population and employment through the recession of the late 80s and early 90s, a time when many other cities throughout the country watched all of the economic gains they had made during the 80s disappear.
The largest gain for the community was in the "FIRE". industry sectors: Financial, Insurance & Real Estate. Many people refer to Jersey City as 'Wall Street West" because of the phenomenal growth in these sectors. Some firms chose Jersey City because it is just minutes from Manhattan's financial district. Others because of the billions of dollars of capital investment in office developments and information infrastructure. Still others because many top financial firms are already.
