Hoboken Business Alliance Releases Positive FY2025 Economic Trend Report

On Aug 25, 2025

The Hoboken Business Alliance (HBA), a special improvement district committed to supporting Hoboken’s local economy, has released its FY2025 Economic Trend Data, offering a comprehensive look at the city’s economic activity and community sentiment from July 1, 2024, through June 30, 2025.

The report provides a snapshot of Hoboken’s performance across visitation, leasing, spending, and public engagement, alongside insights from the HBA’s 2025 Community Survey.

Key data points from the 2025 findings include:

• Hoboken welcomed 4.2 million unique visitors in FY25 — a 10% increase over the past three years
  • 36% of visits lasted over 2.5 hours
  • Visitors returned to Hoboken 5 times on average or more throughout the year
  • Credit card spending reached over half a billion dollars, with 30% spent on dining and nightlife, 12% on groceries, and 11% on leisure activities
• Retail occupancy is now at 89%, with 53,250 square feet of retail space leased in FY25
  • Another 297,000 square feet of retail space is in development, joining the existing 1.65 million square feet of retail citywide
  • One third of Hoboken businesses are food and beverage establishments
  • More than 30 new businesses opened in the first half of 2025, including Atelier Sucré, Julietta Gelato Cafe, Urban Market, The Little Glow Society, and Kinderdance
  • Over 20 more are coming soon, including national brands like Whole Foods, Kiehl’s, Aesop, Barry’s Bootcamp, and Pure Vida
• Office leases expanded by more than 350,000 square feet, bringing Hoboken’s office occupancy to 83%
  • Hoboken now has 2.7 million square feet of office space, with another 250,000 square feet in development
  • Major tenants like Unilever and Sumitomo Mitsui Bank signed leases in the past year, attracted to Hoboken’s amenity-rich offerings and proximity to transportation
  • Other office tenants moved into their spaces, including LIPTON Teas and Infusions at Waterfront Corporate Center II and Hain Celestial, which also opened its Innovation Experience Center
• Community events and activations continue to drive foot traffic, with the Hudson River Showcase Car Show welcoming an estimated 7,000 to 10,000 visitors in a single day
  • On the day of the event, spending on leisure activities doubled while dining and nightlife spending increased 113% compared to an average June day
  • The HBA also coordinated major public art installations, including “Hoboken” by Shantell Martin; “The Flourishing Hoboken Community YarnArt” by Carmen Community Artist; and “Charm Harbour,” a sculpture by American artist duo CHIAOZZA at Maxwell Place Park

“The data reflects what we see and hear every day—Hoboken is thriving,” said James Runkle, president of the Hoboken Business Alliance. “We’re seeing meaningful engagement from both residents and visitors at events and with our public art installation, and local businesses are growing stronger because of it. With smart investments in beautification, community events, and strategic partnerships with the many business owners, community groups and Hoboken institutions that make the Mile Square City special, we’re building a more welcoming and prosperous Hoboken.”

Results from the HBA’s 2025 Community Survey also offer insight into community sentiment and priorities. Over 70% of respondents felt commercial areas are clean, and 67% want to prioritize sanitation and waste management in ongoing beautification efforts. Survey responses also identified festive lighting (48%) and public art and murals (41%) as additional ways to beautify the Mile Square City. Residents and stakeholders overall support placemaking initiatives, with preferences for ambient entertainment (59%), networking events (45%), large-scale events (41%), and arts and cultural programming (41%).

These findings inform the HBA’s long-term planning, programming and advocacy and guide how the organization continues to drive execution of its Strategic Plan forward.

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