Bringing More Opportunities to Newark

Bringing More Opportunities to Newark
Speaking of investment, Mayor Booker shares some of the benefits of moving your business to Newark on his blog.

Newark has so many competitive advantages — they are magnified now in this economy. Our biggest advantages are cost and location — we are the lowest cost location in the region, and so accessible. A company leasing 100,000 square feet of class A space in Newark can save $40 to $70 million over a 10-year period.

Further, with the greatest transportation infrastructure on the East coast, the ability to move goods and people is superior to any other location. We talked very bluntly about this and the many other things that were happening in Newark –- dramatic and record-breaking violent crime reduction, the strength of our workforce, and examples of other companies that are beginning to flow to Newark bringing significant investment and hundreds of jobs (Standard Chartered Bank, law firms like Genova Burns, AMB Warehousing , audible.com, Mimeo, All Hip Hop.com and many others).

Author: Ken Walker

Husband, Father, Newarker, PCA Elder, Business Analyst. In a glass case of emotion since 1978.

2 thoughts on “Bringing More Opportunities to Newark”

  1. The opportunities should be brought to Newark, as our mayor and his economic team have been trying very hardly. However, the opportunities of job growth are most likely created here. For instance, Queens had the largest share of NYC job growth in last ten years. (See NY Daily News, Sept. 8, 2008.) That did not happen accidentally. Baruch College will host an Immigrant Entrepreneurs Conference on Nov. 18 to tell the Queens story. Newark has had a significant population growth in the past ten years. That was not an accident either. With the gowth, the entrpreneurship might be brought here. It might not been the most “sexy” thing like bringing Newark a British bank, which hires nobody from here. However, it has worked well in Queens, as well as in Ironbound, the Newark’s Queens.

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  2. I hope that he does make that happen. I currently work in downtown Bklyn and live in Society Hill. I am in the process of purchasing my 1st home and hope that I’m investing in a city that is about to be the next “hotspot.” I would also love to switch my place of employment to a place closer to home so if companies begin making Newark home may new employment opportunity will be available also. This is a good look for all. I hope I’m getting in at the right time cause NY living is out of reach for my shallow pockets.

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