Our Mission Statement

Newark Community Economic Development Corporation (Newark CEDC) is the primary economic development catalyst for the City of Newark. It is organized to retain, attract and grow businesses, enhance small and minority business capacity, and spur real estate development throughout the city.

As a business development company whose sole client is the City of Newark, Newark CEDC collaborates with the Newark Department of Economic & Housing Development to initiate and execute economic development activities to produce and sustain economic growth, generate jobs and create wealth for the citizens of Newark.

 

About Newark Shoppes

Branded as “Newark Shoppes”, is a community storefront intiiative launched by the City of Newark as the first city-sponsored retail incubator space to assist startup retail and service oriented businesses in Newark, NJ. Originally launched in 2015 as a pilot program created as a component of Mayor Baraka’s Model Neighborhood Initiatives. The philosophy of the program is to capture the entrepreneurial spirit that has been restrained by a variety of factors:

- Access to capital

- Lack of technical knowledge

- Limited demand

Newark Shoppes provides entrepreneurs with the resources to overcome these restrictions, by not only the skills to launch a business, but also a physical venue to hone your business for future success.

This is a shared-retail incubator space that provides entrepreneurs with the on-hand knowledge of what it takes to run and operate your business with the hopes of graduating into your own Brick & Mortar.

 

Eligibility Requirements

Newark Shoppes applicants will be required to meet the following requirements to be eligible:

- Resident of the City of Newark
- Have a retail-ready product
- Be able to commit a certain number of hours in the store per week - Demonstrated level of commitment
- Completed an official Entrepreneurial Training Course:

     - Rising Tide Capital

     - Institute for Entrepreneurial Leadership

     - Rutgers CUEED

     - And others based on approval from Newark CEDC

 

Newark Shoppes Overview

Participants required documents:

- Proof of business legal formation – provide copy of BRC

- Provide proof of insurance – provide updated copy

- Code of Conduct (read thoroughly)

- Purpose of the retail incubator space

- The standards and expectations

- Events

- Non Disclosure Agreement (NDD)

- Acknowledgement

- Assumption of risk

- Release of liability 

License Agreement:

License for 744 Broad Street | Right to terminate in 3 days

Term of agreement timeline: 12 – 18 months

 

Project Manager Contact Information:

Al Qadr Camillo:
O: (973)273-1040
C: (973) 803-8759

Email: acamillo@newarkcedc.org