The second-largest city in New Jersey in terms of population after Newark, Jersey City, is the state’s major employment center. Around 100 thousand jobs are distributed between the public and private sectors. Boasting more than 49 km of waterfront, and superb connectivity via rail and roadways, the area has become an essential transportation track, as well as the production and distribution hub of the region. The embankment area has recently experienced redevelopment, making New Jersey an even more attractive business center. Currently, the Wall Street West district(a new name for the waterfront area) is home to a vast array of ample centers of security, banking, and finance industries. It encompasses more than 22 million sq.ft. of brand-new Class A office space that is partially occupied by Verisk Analytics, Lord Abbett, NEX Group, MEMX, ADP, and other renowned names. Forbes magazine has also moved its HQs to the city. As a business center, Jersey City also supports the growth of the trading sector, having several recognizable commercial neighborhoods - Danforth, Journal Square, West Side, Newport Mall, etc. The local port brings significant income to the budget too. It is an intermodal freight transport site that houses a container terminal, a railyard, and a so-called post-Panamax facility.
