Trenton has lots of consumers.
Trenton is home to 91,000 residents, including some 34,000 downtown residents. Plus, Trenton hosts 40,000 downtown workers, including 29,000 office workers. Meaning that Trenton has the purchasing power of a much larger city.
Trenton’s population is growing.
650 market-rate condos, townhomes and apartments are currently under development in downtown. And, another 620 housing starts are expected by 2028. This will bring another 3,300 consumers to downtown, growing it’s population by another 10 percent.
Trenton has higher-income consumers.
Current downtown residents have an average household income of $69,000 a year, while local workers average $112,200 a year. The 1,270 new households are expected to create another 1,270 households with $97,000 average annual income.
Trenton’s retail demand exceeds $352 million annually.
Downtown residents spend more than $183 million a year on retail goods and services. The 40,000-person downtown workforce spends an additional $168 million in downtown, while they’re at work. Combined, downtown consumers are spending $352 million a year on retail goods and services. Residents of the new housing will add another $53 million in demand, when completed.
Trenton needs more stores and restaurants.
In a recent survey of 1,000 consumers, 94% said there aren’t enough stores and places to shop. 81% said Trenton needs more eating and drinking places. When asked if they would visit more often if Trenton offered a better mix of stores and restaurant, 70% said they definitely would visit more if more were offered.
Trenton businesses can qualify for loans and grants.
The UEZ and other agencies provides forgivable loans and grants as well as marketing and technical assistance. Grant programs from other agencies can help with the cost of facades, signage, lighting and more. There may even be available gap financing for projects of $10 million or more.
Take advantage of all Trenton has to offer.
If you’d like to learn more about The Urban Enterprise Zone and the benefits of opening your business in Trenton, see the links below.
UEZ Benefits
Trenton’s Urban Enterprise Zone is a key focus for economic growth in the Capital City. We take pride in being part of New Jersey’s highly regarded UEZ program, which offers financial benefits to local businesses, residents, and consumers. These incentives are fueling capital investments, business growth, and job creation throughout Trenton.
Business Resources
Businesses opening in Trenton have a lot of resources available to them from the City of Trenton UEZ but also from our many partners at the State, the County and other partners. Please find them below as well as shout outs to our partners.
Our Partners
The City of Trenton has many partners working to make Trenton a better place for your business. Check them out here!
Trenton Urban Enterprise Zone
The Trenton UEZ is part of the City of Trenton Department of Housing and Economic Development