Newark's Downtown Revitalization Efforts

The City of Newark, under the leadership of Mayor Ras Baraka, has been actively pursuing a revitalization strategy for its downtown area, focusing on stimulating business development and strengthening neighborhoods. One key component of this strategy is the Retail Reactivation Initiative.

• The initiative aims to inject energy and diversity into Newark's downtown by supporting local retail entrepreneurs.
• This initiative involves providing financial support to small businesses through grants, fostering economic vitality, and creating spaces that reflect Newark's unique culture and community spirit.

Downtown Retail Reactivation Initiative: Funding and Goals

The Retail Reactivation Initiative is funded through the Urban Enterprise Zone program, a state initiative that encourages business creation and private sector job growth in urban areas. The initiative has already awarded $1.2 million in grants to seven downtown retail small businesses.

• The program's goal is to attract diverse retail businesses, restaurants, and other establishments, creating an attractive business environment and contributing to the overall vibrancy of Newark's downtown.
• The grants are intended to be investments not only in individual businesses but also in the community's future.

Downtown Small Business Grant Recipients

The Retail Reactivation Initiative has awarded grants to a variety of businesses, including:

• Melba's Restaurant: $650,000 - A premier comfort food destination with a second location in downtown Newark.
• Grill & Thrill: $149,600 - Specializing in fast casual Mediterranean cuisine, located at a prominent downtown intersection.
• Isle 15: $127,060 - A Caribbean restaurant serving food and drinks, occupying multiple floors of a vacant downtown building.
• Bricks 4 Kidz Essex County: $112,000 - A STEM-based edutainment center for children, using LEGO bricks and coding programs.
• GlassRoots: $110,000 - A non-profit organization igniting creative and economic vitality through glass arts, located at street-level in the Teacher's Village.
• Honeypot Montessori: $60,620 - The first Montessori school in Newark, dedicated to fostering nature-immersive learning for students.
• Sweet Jeans Kitchen & Espresso Bar: $38,500 - A modern café and community space specializing in events and sweet and savory bites.

The Retail Reactivation Grant: Opportunities for Businesses

The Retail Reactivation Grant program, launched last September, provides financial assistance to businesses looking to establish or expand their operations in Newark's downtown. This program aims to bring a wider array of retail, cultural, and food experiences to the area.

• Eligible businesses can receive grants up to $650,000, based on the square footage of their space.
• These grants can be used for capital improvements, interior and exterior renovations, and purchasing furniture, fixtures, and equipment.

Invest Newark: Collaborating for Downtown Revitalization

Invest Newark plays a crucial role in the Retail Reactivation Initiative. As a non-profit organization, Invest Newark works closely with the City of Newark to attract investment, promote economic growth, and support business development in the downtown area.

• Invest Newark has been instrumental in coordinating the Retail Reactivation Grant program, evaluating applications, and awarding funds to successful applicants.
• Their work aligns with the City's commitment to fostering an environment where businesses can thrive and contribute to the community's economic well-being.

Audible's Business Attraction Program: Supporting Innovation

Audible, a Newark-based company, has launched its own program aimed at stimulating the City's Innovation Economy. This program offers incentives to innovative companies, especially those founded by women or minorities, to set up operations in Newark.

• The program provides incentives for relocation, capital for new leases, and stipends for employees to live and shop locally.
• This initiative aligns with Audible's commitment to fostering a vibrant and diverse business ecosystem in Newark.

Mayor Baraka's Vision: Collaboration and Economic Growth

Mayor Baraka's vision for Newark's future emphasizes collaboration between government agencies and private businesses. He recognizes the importance of creating an environment that attracts investment, supports entrepreneurship, and fosters economic growth.

• This collaborative approach, evident in programs like the Retail Reactivation Initiative and Audible's Business Attraction Program, aims to revitalize Newark's downtown, create job opportunities, and enhance the quality of life for residents.