By David Cruz
Correspondent
There was emotion at this week’s meeting of the New Jersey Sports and Exposition Authority but there was no room for sentiment as the Izod’s $8 million of red ink was simply too much to ignore. But what hurts Bergen County, in this case, helps Essex County, where the Prudential Center, already one of the nation’s highest grossing venues, stands to benefit most.
“I’m sorry for those in Bergen County who are losing the IZOD Center, but it’s also going to spur more development downtown and businesses and we’ll get the corridors done but it’ll push out into the neighborhoods, as well,” said Newark Councilwoman Gayle Chaneyfield Jenkins.
Back in 2007 as the Prudential Center was being built, Essex County officials lobbied the state to close the IZOD Center in order to avoid undue competition between the IZOD Center and The Rock.
“I thought it was inappropriate to have two major entertainment centers like that not that far apart and the fact that The Rock is a state-of-the-art facility,” added Assemblyman Ralph Caputo. “The other issue is the IZOD lost $8 million last year. It’s a business decision.”
Newark Councilman and former Mayor Luis Quintana has had his share of fun at both venues, even greeting a pachyderm at the Prudential Center last year. He says, even eight years later, the decision to close IZOD is the right one.
“Well, it’s going to help Broad Street and with all the venues and things that we’ve put on Broad Street, landscaping, streetscaping the way we wanted to, I think it’ll help,” he said. “It’ll help businesses to stay open a little later, registers will probably click a little bit better and we’ll get more revenue.”
While it hosts around 200 events a year, the Prudential Center has not had as much of an economic impact as had been promised. While there are new bars and restaurants in the arena neighborhood, the promised new housing, parks and other amenities have still lagged behind. The hope is that the decision to close IZOD will help put the foot on the gas pedal for more downtown upgrades.
“I think it’s going to be wonderful but I also think it’s great vindication for those of us who voted for it originally,” noted Chaneyfield Jenkins. “When Mayor Sharpe James and the council were originally in the process of doing Prudential Arena, we had lobbied the Assembly and the Senate and said the urban community, the urban hub could support just one center. And now we’re getting it.”
The NJSEA vote shutters IZOD for two years, after which, it could reopen as an entertainment arena (unlikely) or as some other part (some Essex officials suggest as a casino) at the new American Dream development in the Meadowlands, but that’s two years from now and ask officials in Atlantic City what can happen in just two years.
One day you’re booking five sold out nights of Bruce Springsteen and the next day you’re booking high school graduations. In the cutthroat world of entertainment venues, you’re only as good as the big acts you can book and for this joint, those days will soon be over.