Page 5 - Princeton-Mercer - Regional Life 2020
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 Why Princeton-?
  Mercer County Is a Great Place to Grow
 THINKING ABOUT A RELOCATION TO MERCER COUNTY? It’s good business. Just ask the many large companies who already make their home here, such
as Bristol-Myers Squibb, Black Rock, Novo Nordisk and Educational Testing Service (ETS).
For one, Mercer County provides both
a highly educated workforce and a growing, affluent customer base. According to U.S. Census data, nearly nine in 10 Mercer County residents have at least a high school degree, and 41.5 percent of residents age 25 or older have at least a bachelor’s degree. The median household income in Mercer County
is $77,027 — far above the national average of $59,039.
Add to that the historical significance
of Princeton and Mercer County as part of the American story. Princeton was founded before the American Revolution, and Princeton University has been located there since 1756. Two of the original signers of the Declaration of Independence — Richard Stockton and John Witherspoon — were Princeton
residents. That revolutionary spirit carried through Princeton’s history to a present where innovative-minded entrepreneurship and cutting-edge research make their home in our area.
Employers thinking about establishing a presence in the Princeton Mercer region also can count on a multitude of incentives and support organizations to guide them along their way.
Most recently, the Tax Cuts and
Jobs Act of 2017 established
federal Opportunity Zones, where investors may receive preferential
tax treatment in return for investing
in distressed communities. Mercer County is home to eight Opportunity Zones: one in Hamilton and seven in Trenton. For a map and details on the demographics for each Opportunity Zone, go to www.mercercounty.org/ work/economic-development/small- business-development/mercer-county- opportunity-zones.
Below is a list of just a few of the other important resources available to relocating employers.
State and Local Incentives
The Mercer County Office of Economic Development (www.mercercounty.org/ work/economic-development) provides a range of programs and workshops to help companies of all sizes thrive. They include business mentoring, financial assistance, site selection services, and employee recruitment and training assistance.
As an established Foreign Trade Zone (FTZ), Mercer County also can help companies consider FTZ status if they are engaged in foreign trade. The benefits include logistics flexibility, weekly entry of customs, and duty reduction, elimination or deferral
— all resulting in reduced expenses and a boost to the bottom line. More information is at www.mercercounty. org/work/economic-development- sustainability/foreign-trade-zone.
Businesses interested in locating in Trenton may be able to take advantage of additional incentives, as New Jersey’s capital city includes a 2.5-square-mile Urban Enterprise Zone (UEZ) targeted
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