Princeton’s ‘It Starts Here’ to start ‘later’
December 20, 2012 by James
The deadline for applications for a novel competition designed attract business to Princeton’s downtown area has been extended to January 31.
The ‘It Starts Here’ Challenge is looking for more applicants in the contest in which the winner could get as much as $20,000 in incentives if they follow the rules. The members of the Business Acceleration Committee say they also need more time to advertise the contest and create some excitement about it.
The challenge is to entice new businesses, such as print companies, to set up shop in downtown Princeton. Three lucky companies may be eligible for incentives if they open by September 1, 2013 and do business in that location for a minimum of three years. Should the businesses prove up, the city will also benefit from the taxes and from a more robust downtown area, meaning that there are no losers.
Some of the incentives include a break on rent, marketing discounts, and advertising discounts. Those types of businesses that will be considered by the selection committee include new business, a branch or satellite location from an existing Princeton business, or an expansion of an existing downtown enterprise that may be adding another dimension to their business that would attract new clientele.
Applications must be submitted with a $25 fee and be subjected to a credit check. Once shortlisted, contestants must provide a business plan. Complete information and details on the application process is available on the City of Princeton website.