Paterson: An Overview
ESTABLISHED IN 1791 AND NAMED FOR WILLIAM PATERSON,
NEW JERSEY GOVERNOR AND SIGNER OF THE U.S. CONSTITUTION.
ENVISIONED BY ALEXANDER HAMILTON AS AMERICA’S FIRST PLANNED INDUSTRIAL CITY AND HOME TO SILK, LOCOMOTIVE, AND FIREARMS FACTORIES, AMONG MANY OTHERS.
THE SILK CITY—FOR PATERSON’S LEADERSHIP AS A SILK
146,000, RANKING PATERSON AS NEW JERSEY’S THIRD-LARGEST CITY AND ONE OF ITS MOST DENSELY POPULATED.
PATERSONIANS REPRESENT 52 NATIONAL AND ETHNIC BACKGROUNDS
AND SPEAK SOME 100 LANGUAGES, placing THE CITY AMONG AMERICA’S
IN PASSAIC COUNTY, NORTHEASTERN NEW JERSEY, JUST 12 MILES FROM NEW YORK CITY.
LOCATED ON THE BANKS OF THE PASSAIC RIVER, WHOSE GREAT FALLS LONG POWERED THE CITY’S MILLS.
ATTRACTIONS AND ADVANTAGES
- Urban Enterprise Zone
providing a 50 percent reduction in sales taxes to businesses and their customers on nearly every purchase (except automotive vehicles)—meaning an attractive incentive for shoppers and a substantial savings to business owners sourcing equipment, supplies, and services.
- Small Business Development Center
offering low-interest loans; some 70 training programs per year; and consulting on marketing, business plan development, and more.
- The local retail market
of more than 140,000 people, who currently do much of their shopping ($90 million annually) outside the city.
- Paterson Great Falls National Historical Park
a 35-acre hub of history and scenic beauty with significant tourist appeal, which will be magnified as the attraction is fully developed with restaurants, hiking trails, outdoor concerts, canoeing on the river, and more.
- The Paterson Museum
highlights the city’s past as a leader in manufacturing textiles, firearms, and locomotives and houses one of the world’s first submarines.
- The Route 20 retail corridor
home to national chains, including Lowe’s, which operate some of their most successful stores nationally in this tax-advantaged zone and are easily accessible to consumers in neighboring communities.
- Government offices and services
available by virtue of Paterson’s role as the seat of Passaic County and home to the Robert A. Roe Federal Office Building.
- Passaic County Community College
the fastest-growing community college in the state.
- William Paterson University, Montclair University and Berkeley College
all are nearby and all are helping strengthen the regional workforce.