MCEDC supports Choose NJ and Bio NJ at BIO International

By |2019-06-04T14:57:59+00:00June 4th, 2019|Categories: Blog|Tags: , , , , , |

MCEDC supports Choose NJ and Bio NJ at BIO International. Making the case for companies expanding to or relocating to Morris County. Scenes of NJ and Philly below are from the New Jersey delegation breakfast. Where we came from: NJ    

NY Times Living In section highlights Parsippany-Troy Hills!

By |2019-04-24T19:09:24+00:00April 24th, 2019|Categories: Blog|Tags: , , , |

Parsippany-Troy Hills, N.J.: Away From the City, but Not Far Morris County’s most populous township is 30 miles from Manhattan, and crisscrossed by highways, which makes driving to work easy. Walking, not so much. Click here for the story. https://www.nytimes.com/2019/04/24/realestate/parsippany-troy-hills-nj-away-from-the-city-but-not-far.html

Cost to Build a Home in NJ

By |2019-03-25T21:29:01+00:00March 25th, 2019|Categories: Blog|Tags: , , , |

Cost to Build a Home in a Prevailing Wage State Responding to Click-Bait Series Go Banking Rates Go Banking Rates as an entity (gobankingrates.com or GBR) is a powerhouse of click-bait.  In Feb/March 2019 GBR published a study of the cost of building a house from existing plans in all 50 states.  Land [...]

Quality of Life Index (COLI series #9)

By |2019-03-25T00:17:26+00:00March 18th, 2019|Categories: Blog|Tags: , , , |

Comparing Morristown to other NJ Areas where COLI is calculated. Cost of Living Index Series Monmouth University tracks the quality of life in NJ through polling data.  Five questions are posed: Overall opinion of the state as a place to live. Ratings of one's hometown. Performance of the local schools. The quality of the local [...]

Property Taxes in Morris County – the highs and lows

By |2019-03-25T23:47:36+00:00March 13th, 2019|Categories: Blog, Response to Click Bait|Tags: , |

Responding to Click-Bait Series The average property tax bill in 2017 (the last year for which we have data) is $10,262 in Morris County.  That is 4th from the top.  Essex County, at the top of the list and our next-door-neighbor, weighs in at $11,919.  (At the bottom of the list is Cumberland County with [...]

Living Wage in Morris County (COLI series #8)

By |2019-03-14T13:06:06+00:00March 12th, 2019|Categories: Blog|Tags: , , |

ALICE = Asset Limited, Income Constrained, Employed in Morris County Minimum Wage in Morris County vs. Living Wage Cost of Living Index Series Gov. Phil Murphy signed new a bill that to gradually raise New Jersey's minimum wage. The current $8.85 statewide minimum wage will increase to $10/hr on July 1, 2019; then [...]

Cost to Purchase a New House (COLI series #7)

By |2019-02-24T20:33:27+00:00March 5th, 2019|Categories: Blog|Tags: , , , |

Brand New Construction Purchase Price for a 4-bedroom Home Morris County Cost of Living Series The house purchase item carries 70.9% of the weight in the Housing Index.  With the mortgage rate, housing (when purchased) is 19.90% of the weight for the Composite Index, making it by far the most heavily weighted item priced. The houses [...]

Rent for a New Apartment in Morristown (COLI series #6)

By |2019-03-18T13:26:57+00:00March 3rd, 2019|Categories: Blog|Tags: , , , |

Update 3/18: State-Level Cost of Living Indices my have meaning if your "state" is Washington, DC.  However, if your state is California, or even New Jersey or Massachusetts, putting all rents in a blender and producing one average has little predictive meaning.  That said, the small size of NJ and the wealth in pockets near [...]

Jersey Girls Don’t Pump Gas (COLI series #5)

By |2019-03-23T17:51:14+00:00February 25th, 2019|Categories: Blog|Tags: , , , , |

Jersey Drivers Don't Pump Gas Morris County Cost of Living Series Transportation costs factor heavily (10.46%) into the Cost of Living (COLI). So, we are tracking gasoline prices quarterly and entering them into our COLI index.  (Along with the cost of balancing a set of tires.)  Imagining that NJ has high gasoline pricing?  Not so, [...]