Moo hoo ha ha ha, Jersey City will be gaining 300 jobs and will now be leasing 100,00 square feet of office space as the Arch Insurance Group Inc., moves most of it's corporate HQ operations to the good side of the Hudson River in March. Arch will be moving into the Harborside Financial Center. Mark D. Lyons the big cheese (no, really it's his title) said the choice was easy considering the lower lease rates (In Jersey City things lease for $30 a square foot while in Manhattan it's $60 per square foot, you do the math) and an attractive package of incentives. In Jersey we call those tax breaks. No doubt they also wanted to be closer to the blogging capital of New Jersey, it's why the Yankees flirted with building here.
Jersey City welcomes Arch and reminds those who might have a little issue with giving up the Big Appletini for Jersey City, you can't beat the view ya know? Al those years you looked at JC, now you can lovingly look back at a pretty nice skyline.
Monday, January 12, 2009
New York's loss is Jersey City's gain
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