Economic Development

Newark is an important economic center for the state of New Jersey. It is home to Port Newark, the largest port on the East Coast and third largest port in the country. Newark has a thriving business community where both major corporations and small businesses boast Newark as their corporate address. The city also has the largest education center in the state with over 50,000 students and faculty at its five colleges and universities. Newark is home to both the premiere arts and cultural center in the state - the New Jersey Performing Arts Center, and, the premiere sports arena in the region - the Prudential Center, home of the New Jersey Devils. The city has flourishing cultural hubs and neighborhoods and is a global transportation hub with immediate access to seven major highways, an international airport and Penn Station. These are the competitive assets that Newark Alliance works in partnership with other entities to leverage into greater economic opportunity.

The Alliance leads a compelling, unified economic development agenda for Newark that brings together local capacity, bolsters investment and tourism, fosters economic inclusion and grows a vibrant Newark population – both downtown and in the neighborhoods. We work with key stakeholders – from local vendors to anchor institutions - to create a cohesive ecosystem that highlights the unique economic advantage of Newark. We aim to build collective action to harness the energy of Newark to support and grow business and innovation, and enhance the quality of place and inclusive economic growth of the city.



In 2004, the Newark Alliance assembled over 400 stakeholders from the Newark community to inform and guide a project led by the Initiative for a Competitive Inner City (ICIC), an entity founded by Dr. Michael Porter of Harvard University, who is known for his work on inner city revitalization. The project, OpportunityNewark: Jobs and Community Development for the 21st Century, has served as an evolving template that enables leaders in Newark and New Jersey's public and private sectors to identify and leverage key strengths to restore the city as one of America's great cities. OpportunityNewark focused on developing action plans in three key areas that could propel Newark's revitalization – Industry Clusters, Business Environment, and City Image and Perception.

Through extensive collaboration and partnership key stakeholders continue to address issues in the areas identified in OpportunityNewark as we make progress towards improving the City's economic conditions.

2009 UPDATE REPORT

In 2009, an update report on OpportunityNewark was published to assess the progress and impact of the action plans.


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2006 FULL REPORT

The 2006 OpportunityNewark report provided a set of action plans in three key areas that could propel Newark's revitalization – Industry Clusters, Business Environment, and City Image and Perception.


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2006 EXECUTIVE SUMMARY

The 2006 OpportunityNewark report provided a set of action plans in three key areas that could propel Newark's revitalization – Industry Clusters, Business Environment, and City Image and Perception.


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