Somerset County Comparative Market Analyses

Location

Somerset County, New Jersey

Client

Somerset County Division of Planning

Project Lead

WSP Global

Services

Market Analysis
Geospatial Analysis

WSP Global

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Working with Parsons Brinckerhoff out of Princeton, Urbanomics performed the Phase II and III market analyses for the award winning Somerset County Priority Investment Area Framework Plan.
Under Phase II, Urbanomics prepared in-depth market analyses of Somerset County in the context of the surrounding counties as well as for six (6) prototype Priority Growth Investment Areas (PGIAs) as part of the County's final investment framework. The analysis included physical and logistical site characteristics in the context of employment demand, real estate potential and the existing labor force.

The Phase III work included an update of the Phase I and Phase II socioeconomic and real estate baselines and the analysis of the remaining 21 PGIAs in the context of regional demographic and market conditions. This work served as a market background for site-specific economic development plans.