Home to a diverse array of manufacturing activities—from food, apparel, and chemical production to metal fabrication—the city of Newark’s industrial legacy is widely appreciated. Newark’s Manufacturing industry is positioned for its next boom with a confluence of local and global economic forces and increasing capacity.
Location and Density.
Few, if any, cities in the nation can match Newark’s prime location and density of resources and infrastructure. Indeed, New Jersey has the greatest density of people in the United States, while the New York City-Northern New Jersey-Long Island area has the nation’s highest level of business concentration. Newark’s industrial landscape both reflects, and benefits from, these development patterns: The largest share of New Jersey’s industrial activity (274,399 manufacturing jobs) is in the northeastern part of the state, with Newark as a prime hub.
Scale and Diversity.
Newark is home to hundreds of companies that produce both durable (e.g., metal parts) and non-durable goods (e.g., baked goods) for a varied set of industries and end consumers. According to Brookings research, such a diverse industrial mix is an asset for communities, like Newark, that are located in large, high performing metropolitan areas. Given niche market demand in the region and superior access, Newark has an opportunity to stress “high road” and value-added practices that have the potential to boost innovation and productivity for this group of regionally-savvy suppliers. There is also potential to expand the local and regional manufacturing base to accommodate a broader mix of technologically intensive companies.
Makers Village / Aerofarms, Inc.
Below are links to our partners' websites.
Newark has over 400,000 sqft of retail in development. This outstanding number is being filled by top class retailers, with a new Whole Foods, Nike Town, Shop Rite, Burlington Coat Factory and more. As the downtown core grows in residential density, new retailers are setting up shop in Newark. The city is transforming into a 24/7 city that is connecting the residential population to new amenities, attractions and services.
Hahne's & Co Building
The transformation of the Hahne & Co. building has broken ground on a $174 million restoration project. The project, led by L+M Development Partners that will house 160 mixed income housing units, 75,000 square feet of retail, a new cultural arts space for Rutgers University and a Whole Foods.
The project is the preeminent example of success in Newark. Managed and financed through partnerships between private, non profit and private groups, Newark is reinstating its crown jewel. The project was financed through the New Jersey Housing and Mortgage Finance Agency, $66 million from the New Jersey Economic Development Authority, an equity stake from both Goldman Sachs Urban Investments Group, Prudential Financial and Citi Bank.
Located in the heart of Newark’s downtown, Hahne’s building is bringing premium retail space to enable the development of Newark’s best amenities.
Logistics and Distribution
Newark is perfectly positioned to reach the largest target market in North America. With immediate access to Newark’s Port, Airport, Rail and the major arteries of US Highways, Newark is the distribution hub of many of the world’s largest companies.
The availability of industrial warehousing space makes Newark’s potential in the space far greater than realized. Our team at NCEDC has been working hard with many of the Nation’s largest distributors to find the right needs located within Newark.
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Newark houses many institutions and corporations that are dedicated to the Life Sciences. The talent from Universities and Hospitals in Newark is able to provide many corporations the tools to create the country’s best R&D industry. NJ has made great strides to develop great programs for Life Sciences and Bio-technology start ups and established companies. NJIT is opening its Life Sciences building in the heart of newark that houses 24,500 sq. ft. of new wet and dry laboratories, offices and collaborative spaces. About $13.5 million of the cost was funded by the State of New Jersey Higher Education Capital Facilities Grant Programs. Designed by NK Architects of Morristown, the new facility is part of a $300 million campus-wide capital building program that is transforming research, teaching and campus life at NJIT. Along with the major improvements of NJIT’s campus, Bio-Trial, a french biotechnology firm completed their development of 70,000 sqft of office and labs in late 2015.
The concentration of Rutgers, NJIT, University Hospital, Rutgers UMDNJ and NJMS makes us a leader in bringing talented people dedicated to researching Life Sciences.