Jerusalem Municipality

Jerusalem Municipality looking for investors

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Photo: Miriam Woelke

B”H
It was, more or less, a coincident that I talked to a member of the Jerusalem city council last week. I know, there is nothing like a coincidence and everything is predestined by G – d. However, it still came as a surprise! 🙂
The city council member was quite eager to talk about the current job situation in town. The mayor and the city council envy places like Tel Aviv or Netanya with a great infrastructure. A lot of foreign investors go to there and open businesses. The result is that a lot of jobs are being created. 
And who is coming to Jerusalem?
Not too many foreign companies or investors. 
The city council wants to change it to the better. I asked the member about what Jerusalem wants to offer a potential investor. 
“Well, he said, the mayor of Netanya reduced the property / municipality tax called Arnona.”
And what else do you offer?
Well, the council is still thinking. 
Jerusalem’s two major problems are the bad financial situation as well as local transportation. The tram is a great success and further lines are on the way. Example: From Mount Herzl to the Hadassah Ein Kerem Hospital or a new line going from downtown to Emek Refa’im Street and Old Katamon. 
However,there are not too many people shopping downtown due to the bad parking situation. There is just no place to park a car. Thus, people prefer to go to the malls only, as they are equipped with a parking lot. 
A lot of startups are located in Jerusalem. Including quite a few haredi startups mostly run by American Haredim. Nevertheless, Jerusalem doesn’t seem to attract the big investors with lots of cash. They prefer Tel Aviv and the coastal line. 
Why?
Maybe too many businessmen are prejudiced towards Jerusalem. Too conservative, to small, too complicated and dangerous due to Arab terror. 
What Jerusalem needs are more jobs because we have a high unemployment rate. Even more so we need creative people who are willing to start their own business in town. Not only a falafel place but something new. 
Jerusalem has a huge potential but the city still hasn’t found it’s place on the business map yet. We don’t need Chinese or other investors from abroad who may ruin our city. It is much more important to support locals setting up their own business. The city needs new ideas but, unfortunately, the financial situation seems to be desperate and thus the city council is concentrating on foreign investors. 
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