That may have already changed. According to a published report, Goldman officials have been meeting with city officials over the last two weeks about moving ahead with a second tower, even though 30 Hudson St. won't be finished for another two years.

Goldman Sachs officials wouldn't comment other than to indicate that "we're looking at our options throughout this region," but the timing is very interesting. Last month, the company submitted a proposal to build a 750,000-sf tower at 55 Water Street in Lower Manhattan. After a subsequent meeting with Jersey City officials, that proposal, which included a trading floor, was quickly withdrawn, according to insiders.

Costs and incentives are said to be the major issues. It costs 25% less to build similar projects in Northern New Jersey than Manhattan, and Goldman got a big incentives package for the first tower. That package includes a 20-year tax abatement from the city and a 10-year, 80% rebate on income taxes from the state. Sources speculate that a similar deal may have already been put on the table for the second tower.

The tract is currently zoned for 600,000 sf, or about 20% less than Goldman's Water Street proposal. The firm already has variances related to height and a street closure for the first tower and may have to work something out with the city on this one as well. One hitch is that there has been much rancor among local residents related to traffic, noise and dust generated by the city's ongoing construction boom.

Goldman anticipates moving 6,000 jobs into the tower and mixed-use complex already under construction. If the second tower proceeds, observers feel that total could be bumped up to 10,000 or more. In the larger scheme of things, "Jersey City has gained 35,000 new jobs and $3.8 billion in capital improvements in the last six years," according to Stuart Koperweis, president of the Jersey City Economic Development Corp.