Mira Prinz-Arey, Executive Director, Jersey City Economic Development Corporation

In an interview with Invest:, Mira Prinz-Arey, executive director of the Jersey City Economic Development Corporation (JCEDC), said that strategic, inclusive growth and workforce development are at the heart of the city’s economic vision. “Our goal is to create vibrant business districts, attract investment, and foster innovation,” Prinz-Arey said.

As the new executive director, what is your overarching vision for JCEDC?

The Jersey City Economic Development Corporation has been around since the 1980s. We’re here to support businesses of all types, and our mission is to promote and facilitate economic development throughout Jersey City. We’re a city of about 300,000 residents with an incredibly diverse population, arguably the most diverse medium-sized city in the United States. Our goal is to create vibrant business districts, attract investment, and foster innovation. Jersey City is home to a wide variety of businesses. We are home to major corporations like Goldman Sachs, FanDuel, Tropicana, and Goya. At the same time, we have a vibrant small-business community supported by seven Special Improvement Districts that work with the businesses and the EDC. We also manage the city’s Urban Enterprise Zone (UEZ) funding, which has been crucial for capital improvement projects and direct support to these districts. We’ve partnered with public safety to offer additional off-duty coverage for business areas, which has been beneficial for both residents and business owners.

We also administer EDA loans and create a lease subsidy program for new businesses to help cover first-year rent, which is crucial for businesses managing startup debt and operational costs. We’re also revamping our programming to meet entrepreneurs where they are, whether they’re just starting out or are long-standing legacy businesses. Another exciting initiative is our coworking space, The Grapevine, funded through the UEZ. It includes classrooms for educational programming and offers affordable rental options for meetings or events. Our focus is on supporting and connecting with entrepreneurs and business owners in every way we can.

What were the strategic reasons behind the decision to move to Martin Luther King Jr. Drive?

Over the years, the EDC has had several locations. We were previously downtown on Montgomery Street and later moved to Academy Street in the historic Apple Tree House, where George Washington once stayed. That history will be especially significant as we prepare for America 250, the country’s 250th anniversary. Our move to Martin Luther King Jr. Drive, also known as “the Hub,” was intentional. This area is in need of economic development, and we didn’t want to just talk about revitalization; we wanted to be a part of it. 

What strategies is JCEDC using to attract new businesses, especially in emerging industries?

As part of the UEZ requirements, we recently developed a five-year strategic plan and interviewed stakeholders citywide. One of our key takeaways was the need to be a centralized hub for economic development, essentially acting as a one-stop shop. We’re working closely with city agencies to understand the diversity of our current business landscape and identify gaps and opportunities. For example, if there’s a growing tech industry, we want to know where commercial space is available and which neighborhoods would be ideal for such businesses.

We’re building a database of vacant properties and tracking new developments to inform and guide incoming businesses. Our Planning Division recently updated the city’s master plan, which includes new zoning in commercial corridors requiring retail on the ground floor and residential above. This supports local businesses by ensuring a built-in customer base and aligns with smart, sustainable development principles.

What are the city’s current development priorities, and how are you facilitating them beyond what you’ve mentioned?

Over the last 10–20 years, Jersey City has experienced significant development. It has been great for the housing supply, which is crucial. We’ve seen how low vacancy rates can cripple regions, as happened in the Bay Area, where I’m originally from. We’ve passed an Inclusionary Zoning Ordinance to ensure new developments include affordable housing, from low-income to workforce levels. Developers seeking variances or tax abatements are also required to provide affordable units. We also passed legislation allowing accessory dwelling units (ADUs), like in-law suites, behind existing two-family homes. These must be affordable and are beginning to show results now. In Journal Square, our redevelopment plan mandates affordable housing in all new projects. Jersey City remains more affordable than Manhattan, making it highly desirable, but that demand creates both opportunity and pressure. We’re also building more affordable housing than most municipalities in the region, though it may not always feel that way to residents. Our hope is that other cities step up to share the responsibility.

What initiatives are in place to enhance workforce development?

Workforce development is a major area that we’re reengaging with. We’re partnering with our Board of Education to create internship opportunities for high school and college students. We’re also working with Hudson County Community College, which has excellent job-readiness programs. We’re engaging with local business leaders to understand their workforce needs so we can develop training programs tailored to those skills. There’s also construction training for residents interested in entering the building trades, which is a crucial field given the level of development in Jersey City and the county overall. COVID disrupted many of these programs, but we’re now returning to pre-pandemic momentum, which is exciting.

How does tourism factor into your plans, especially with the 250th anniversary and events like the World Cup coming to the region?

Tourism is going to be huge for us. With America 250 and the arrival of the tall ships in the Hudson River, plus the World Cup being hosted in both New York and New Jersey, Jersey City will be a major fan zone. We’re expecting 50,000 to 100,000 visitors daily for around 40 days.

This is a big opportunity for hotels, short-term rentals, and local businesses. We’re starting early, with Memorial Day weekend kicking off the “Jersey City Cup,” a youth soccer tournament. Club games will run through summer, leading into the World Cup and then the America 250 celebrations next year. We’re preparing marketing materials and working with business owners on readiness, like whether they accept credit cards, mobile payments, or need point-of-sale upgrades. We’re also focused on international tourism preferences, which often differ from U.S. tourists, and ensuring our arts and culture sector is prepared. Cultural tourism will be a major component.

What would you consider Jersey City’s primary challenges, and how is the EDC working to address them?

Affordable housing is key, but transit is equally critical. I’ve lived in cities like Chicago, San Francisco, and New York, all of which have strong public transit. Here, we’re working toward better regional connectivity, which the World Cup might help accelerate. We’ve expanded pedestrian and bike infrastructure and partnered with Via to provide micro-mobility options. The city’s “15-minute neighborhood” model encourages walkable access to essentials like groceries, parks, and services, and we’re aligning business support around that concept.

Regional transit still needs work. For example, getting from Jersey City to Newark by bus can take up to two hours due to traffic. A light rail connection between the cities would make a huge difference. We’ve made progress, though, and Bayfront will extend the light rail across the Hackensack River to Kearny and eventually Newark. However, we need stronger state-level prioritization for transit. As my uncle, an urban planner, once said: you can learn a lot about a region by how it prioritizes public transportation. We need a multimodal transit system to support regional growth. It’s a long-term goal, but it’s vital.

Looking ahead to the next three to five years, what are your top priorities?

Our priorities are workforce development, adapting to evolving technologies like AI, and fostering a diverse mix of businesses so residents don’t have to leave the city for work. We aim to make Jersey City more business-friendly and streamline the startup process. It’s also about regional impact. A business-friendly city supports a business-friendly county and state. New Jersey can be a tough place to start and grow a business, so we want to advocate for policies that make it easier, not harder.