$301 Million Economic Impact Spurred by Passaic County Nonprofit Community Developers
Statewide community development association releases new local economic impact report


Nonprofit community development corporations (CDCs) in Passaic County have contributed $301 million dollars for New Jersey’s economy according to a new report released today from the Housing and Community Development Corporation of New Jersey (the Network). The report is a supplement to Stronger Together: The $12 Billion Impact of Community Corporations in New Jersey, a study highlighting the investments made by the sector since 1989 and the resulting impact on the state’s communities.

“The nonprofit community development sector has been a strong contributor to the area and the state’s economy, making investments that have improved the quality of our neighborhoods as well as produce homes and jobs,” said Staci Berger, president and chief executive officer of the Network. “These mission-driven organizations are creating opportunities for thousands of New Jersey residents while generating much needed tax revenue for Passaic County and all of New Jersey.”

According to the new report, Passaic County nonprofit CDCs have completed 65 developments which have spurred 2,300 jobs and $132 million in labor income in the last 25 years.

“Passaic County CDCs producing $301 million for our economy with limited resources is incredibly impressive,” said Robert Guarasci, chief executive officer of New Jersey Community Development Corporation (NJCDC). “Fortunately, we have been able to create jobs, provide essential services, and build homes and schools for local residents while also helping to strengthen the economy.”

The report which features Passaic County employment, housing, and demographic data was unveiled at an event co-hosted by NJCDC and Paterson Habitat for Humanity in Paterson.  Local and state officials, area community developers, as well as faith-based and other local nonprofit organizations were on hand during for the release of the report which was sponsored by Citi Foundation.  

To access Stronger Together: The $12 Billion Impact of Community Corporations in New Jersey and the Passaic County supplemental report, visit www.hcdnnj.org/StrongerTogether.

About the Housing and Community Development Network of NJ
The Housing and Community Development Network of New Jersey is the statewide association of more than 250 community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities, and strong communities. For more information on the Network, visit www.hcdnnj.org.

For more information:  Nina Arce
(609) 393-3752 x12
(609) 789-7900
Website:  hcdnnj.org
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