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Home > Government > City Departments > Economic & Housing Development > Economic Development Strategy

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Economic Development Strategy

ECONOMIC DEVELOPMENT STRATEGY
The Department of Economic and Housing Development has developed an economic development strategy formulated around goals in key sectors that will drive the local economy. Economic prosperity of the city will result from the following areas of focus:

  • Strengthening Newark’s status as a global transportation and logistics center by increasing trade at Port Newark, improving its competitiveness in the growing logistics industry, creating greater access to port and airport opportunities for city residents, and using environmentally sound development practices at port, airport, and rail hubs.
  • Building upon Newark’s location, infrastructure, and existing offices to position the city as a Regional Office Center and creating and supporting Business Improvements Districts in commercial and retail nodes throughout the city.
  • Promoting and enhancing Newark’s status as regional knowledge center by making its higher education institutions a focal point for the expansion of academic and research activities, new industries, and housing opportunities.
  • Leveraging the city’s arts and cultural assets to define Newark as the premier cultural and entertainment center of New Jersey, which will attract audiences, residents, and businesses; create new retail sectors, and improve both citywide image and neighborhood quality of life.
  • Re-positioning downtown as a 24/7 mixed-use Central Business/Residential District.
  • Restructuring NewarkWORKS (formerly the Mayor’s Office of Employment and Training) to take the lead in local workforce development in order to more effectively meet the employment and training needs of Newark residents.
  • Establishing the Brick City Development Corporation (BCDC), a nonprofit 501c3 public benefit corporation to promote and facilitate economic development, business attraction, and retention in Newark.
  • Establishing a new City Planning Department to comprehensively coordinate planned development of the city’s neighborhoods and key growth areas such as the port.
  • Restructuring of the Housing Department to improve planning and services and develop a citywide strategy to create affordable and market-rate housing.