$1.18 Billion Economic Impact Spurred by Bergen and Hudson County Nonprofit Community Developers
Statewide community development association releases new local economic impact report


Nonprofit community development corporations (CDCs) in Bergen and Hudson County have contributed $1.18 billion dollars for New Jersey’s economy according to reports released today from the Housing and Community Development Corporation of New Jersey (the Network). The reports are 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 Bergen and Hudson County and all of New Jersey.”

According to the new report, Bergen County nonprofit CDCs have completed 68 developments which have spurred 2,000 jobs and $138 million in labor income in the last 25 years. In Hudson County, nonprofit CDCs have completed 82 developments, spurring 5,800 jobs and $415 million in labor income.

"In Jersey City, we've helped to build more affordable units in the last two years than were built in the prior four years combined. We could not have done this without the help of non-profit development corporations," said the Honorable Steven M. Fulop, mayor of the City of Jersey City. "We prioritize affordable housing not only because it provides homes for people who need them - but because it provides jobs for people who need them as well."

“Community development has always been a priority for our administration, in particular developing affordable homes for the homeless and disabled,” said Hudson County Executive Tom DeGise. “We recognize the momentous impact of community development on our local economy and are proud to continue to support our local groups in creating more affordable home opportunities for the people of Hudson County.”

“I am proud to support the efforts of non-profit community development corporations in the 36th district and throughout this state who are addressing the needs of our communities for homes that working people can afford,” said Assemblyman Gary S. Schaer (D-Bergen/Passaic). “Today's report shows the economic impact of this effort on the regional economy in not only helping people find affordable housing but employing a local workforce that spurs development in our local small businesses thereby stabilizing municipal tax rolls.”

The report which features Bergen and Hudson County employment, housing, and demographic data was unveiled at an event hosted by Garden State Episcopal Community Development Corporation in Jersey City. Jersey City Mayor Steve Fulop was on hand along with other 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.  

“GSECDC continues to strengthen the local economy by partnering with the private and public sector to give new life to abandoned properties,” said John Restrepo, director of housing and community development for GSECDC. “This effort also creates opportunities for first time home buyers that will enjoy quality housing and increased disposable income to help maintain their homes in the long run and invest in the future of their household and their community.”

“Stronger Together is a critical piece of research that demonstrates the extraordinary strength of community development institutions in New Jersey,” said Eileen Auld, New York Tri-State Market Director of Citi Community Development. “We are pleased to celebrate the accomplishments of the nonprofit community development sector and its positive economic impacts on the local economy.”

To access Stronger Together: The $12 Billion Impact of Community Corporations in New Jersey and the local supplemental reports, visit http://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
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