HAS THE INFLUX OF JOBS INTO NEWARK FINALLY STARTED?

For some time, Newark has been trying to rehabilitate its image and lure companies across the Hudson. Standard Chartered's decision to move 300 jobs to the city from Manhattan suggest that all that hard work may be paying off. But does this mean a significant shift of businesses from New York? A third of this week's respondents think it does. A little more than half (56%), perhaps wary of the current economic situation, believe only time will tell. A mere 11% remain pessimistic about the chances of a major influx into Newark. Hartz Mountain Industries is attempting to influence business' decisions through a major billboard and print campaign that points out how much more expensive it is for companies to lease space in Manhattan versus North Jersey. It's hardly surprising, then, that Hartz's senior vice president of sales and leasing, Ernie Christoph, has high hopes for the area:

"Given the economic times, I don't know that there'll be an influx, but I know for a fact that a lot of companies are looking at New Jersey as an alternative right now. We've done a deal recently with a company that wanted to move some people out of New York. I have a lease out right now for 60-odd thousand feet; those tenants are a contingent of people coming over from New York City. I've had interest in another 200,000 feet recently, and I know I can attribute that interest to the ad that we ran. These are all companies that are looking to relocate their employees and take advantage of the much cheaper rates in New Jersey.

"New Jersey is much more affordable than New York right now. We've always stated that and it's one of the reasons why the Meadowlands is in existence, because it's a better alternative, a cheaper alternative than Manhattan.