Best known for the college that shares its name, Princeton, New Jersey, offers more than just a good education.
The Township of Princeton is an economically strong community spanning 16.5 square miles in the heart of central New Jersey. It surrounds the 1.85 square mile area of the Borough of Princeton, but the two municipalities are completely separate political entities. The 1990 census recorded the Township population at 13,198.
Township residents include faculty and staff members of the area’s numerous academic institutions, along with workers from various companies, such as:
- General Electric
- Food Machinery Corporation (FMC)
- Columbia Chemical Corporation
- Educational Testing Service
- American Cyanamid
- Bristol-Myers Squibb
Princeton is also home to executives and employees who work in Princeton, New Brunswick, Trenton and other nearby communities. The area also claims a commuter population oriented to New York and Philadelphia, each about 50 miles away, as well as Newark. A small number of farmers and retirees also reside in the Township.
A Fast Trip to Stability and Well-being
Commuting from Princeton isn’t always an easy job. No major travel arteries directly touch the Township. However, the New Jersey Turnpike, Garden State Parkway, Amtrak and New Jersey Transit are all within reach of Princeton, the latter two providing direct rail service to Philadelphia and New York, as well as the rest of the northeast corridor.
This area is the fastest growing part of the Garden State and is known as the Route 1 corridor, the route number of the New Jersey Turnpike. Attracting a number of large office parks and conference centers, this trend began with Princeton University’s Forrestal Center and the recently completed Carnegie Center. The area is also home to Merrill Lynch’s new training and conference facility.
Not surprisingly, an unusually large portion of the population is engaged in teaching, education and research activities, providing exceptional employment security even in times of unfavorable economic conditions. This factor allows a stable community environment through both good times and bad.
Prosperity in Princeton
The Township itself is an open, semi-wooded community of substantial, rather pricey homes, with an average single-family construction value of $442,199. Within the community, you will find:
- One shopping center
- Several smaller shopping areas
- Office research and service areas
- A large amount of undeveloped land (approximately 35 percent of the Township’s total area)
Average annual wages for private sector employees is $51,794, and for those who work in the government, it’s $45,267.
Heavy industry in the Township is prohibited under present or foreseeable land use regulations, so expect Princeton’s suburban feel to remain for a long time.
Sound laws protect its natural and developed advantages, and with an intelligent citizenry dedicated to preserving its present community character, Princeton will continue to grow as one of the most attractive and prosperous suburban communities in the United States.