1. CITY OF NEWARK, NEW JERSEY
OVERVIEW LABOR FORCE & EMPLOYMENT
CURRENT CIVILIAN LABOR FORCE UNEMPLOYMENT RATE
108,100 14% 9.8% NJ
8.3% US
TOTAL EMPLOYED PER CAPITA PERSONAL INCOME
91,900 $17,178 $50K NJ
$39K US
MAJOR PRIVATE SECTOR EMPLOYERS
Company Industry 2011
Employment
University Medicine/Dentistry University/Hospital 6,700
City of Newark is the county seat of Essex Prudential Investment Mgmt Life Reinsurance Carriers 5,000
County and the largest city in the county Gateway Group One Facilities Support Services 3,500
and State (68th largest in the U.S.) NJ Institute Of Technology University 2,037
Verizon NJ Telecommunications 1,400
Newark is also the 3rd largest insurance PSEG Energy Holdings LLC Public Utility Association 1,000
center in US, after NYC and Hartford. Safer Holding Corp Invest Holding Companies 700
Prudential Financial,, along with several American Airlines Airports/Transportation 500
other companies including PSEG, Horizon Horizon Healthcare Healthcare Maintenance 350
Blue Cross and Build Shield, and
International Discount Telecommuni-
cations are headquartered in Newark. LARGEST EMPLOYMENT SECTORS (TOP 5)
Rank Sector Essex NJ U.S.
Newark’s nickname is the “Brick City”
1 Trade, Transportation & Utilities 21% 21% 19%
And is considered one of the nation's
2 Education & Healthcare Services 16% 23% 14%
major air, shipping, and rail hubs.
3 Professional & Business Services 14% 15% 13%
4 Financial Activities 7% 7% 6%
CURRENT POPULATION 5 Manufacturing 6% 7% 10%
278,154 Rank Occupation
LARGEST OCCUPATIONS
Newark
HISTORY 1 Service 25%
1693: Formed as a township 2 Sales & Office 24%
1798: Incorporated; 1836: Reincorporated 3 Management, Professional & Related 19%
1921: Port Authority of NY/NJ formed 4 Production, Trnsp, and Material Moving 17%
5 Construction, Extraction, Maint. & Repair 13%
1985: NJ/NY port 15th busiest in the world
1996: 24,000 jobs in transportation
EDUCATION ATTAINMENT
1997: NJ Performing Arts Center opened 29% % of HS Grads 42% % of HS Grads
continue to 2
continue to 4
2003: Port moved over $100 billion in Yr College
8% 3% Yr College
goods Less than H.S.
33% INSTITUTE OF HIGHER EDUCATION
H.S. Diploma
TAX INFORMATION 2011 20% Institute (2-4 Yr.) TOTAL ENROLLMENT
Some College
Corporate Income Tax = 9% Rutgers University 11,501
Personal Income = 8.97% (max) 4 Yrs of College
Seton Hall Univ 9,616
36%
Sales Tax = 7% > 4 Yrs of College NJ Institute of Tech 8,840
Property Tax = $2,372 per capita UMDNJ 6,055
Median Property Taxes Paid in
county = $7,489
ETHNICITY/DIVERSITY AGE MEDIAN AGE
ARTS & CULTURE
52%
New Jersey Performing Arts Center 38% 25
New Jersey Symphony 32% 32%
New Jersey State Opera 27%
21%
Hispanic/Latino
Garden State Ballet
Newark Museum 2% 16%
Under 25
Newark Boys Chorus 9%
Asian
White
45-64
New Jersey Historical Society
25-44
Other
Black
65+
Newark Public Library
Jewish Museum of New Jersey
Prudential Center
www.choosenj.com/cityofnewark.pdf
2. CITY OF NEWARK TRANSPORTATION/MOBILTY COST OF DOING BUSINESS
AVG COMMUTE TIME (MINS) CARPOOL 2011 WAGES
24 30 NJ
25 US 15% Occupation
Bus. & Fin. Operations
Essex
County
$74,600
New Jersey
$72,740
USE PUBLIC TRANSIT USE OTHER MEANS
Construction and Extraction $56,190 $53,760
25% 11% Food Prep & Serving Related
Healthcare Practitioners
$23,640
$82,330
$23,300
$80,590
Healthcare Support $28,900 $28,380
AVAILABLE TRANSPORTATION SYSTEMS
Management $129,680 $124,790
Train service is available via NJ Transit and Amtrak Services.
Office & Admin Support $36,860 $35,660
Bus service is available via NJ Transit .
Production $35,020 $34,690
KEY ROADS Protective Services $50,850 $52,230
Garden State Parkway, Turnpike (I-95), Route 1, 18/CR 527, 27, Sales & Related $44,960 $42,850
26, 91 and 171.
SPACE AVAILABILITY
MILEAGE TO NEAREST AIRPORT ABOUT NEWARK INT’L AIRPORT
Type Sq Ft/Acre Occupancy Costs
12th busiest in US (29th worldwide)
3 To Newark
Int’l Airport 34.1 million passengers (2010)
860 million short tons of cargo
Land
Industrial
122.3 Acres
2,551,000 sq ft
$14.97 / sf
$5.87 / sf
Office 147,000 sq ft $18.92 /sf
16 To LaGuardia
Airport
ABOUT LAGUARDIA AIRPORT
24.0 million passengers (2010)
Smallest of 3 NY Metro Airports Type of Utility
UTILITY COSTS
Utility Provider Cost
Busiest in the US for non-stop Gas $2.63 2nd lowest
service to and from Europe Electric 14.8 cents / Deregulated 7th highest
Telecom Varies by location NA
21 To JFK Int’l
Airport
ABOUT JFK INT’L AIRPORT
#18 busiest worldwide
46.5 Million passengers (2010)
Waste/Sewer Varies by location
FINANCING / INCENTIVES
NA
Leading freight gateway to US
(value of shipments) ECONOMIC REDEVELOPMENT & GROWTH GRANT (ERGG): Tax-increment
financing available to close financing and competitive cost gaps
MILEAGE TO NEAREST PORT ABOUT PORT OF NY/NJ between New Jersey and alternative locations
Largest port on East Coast
4 To Port of
NY/NJ
3rd Largest port in the US
Handled 5.3 million loaded and
BUSINESS EMPLOYMENT INCENTIVE PROGRAM (BEIP): Annual grants
available to projects relocating or hiring new jobs in the State
unloaded 20 ft equiv units URBAN TRANSIT HUB TAX CREDIT (UTHTC): Income tax credits to
Value of cargo that moved projects involving new construction or large-scale renovation
through port exceeds $190 Billion locating within 1/2 mile of a designated transit hub or a site
KEY RESOURCES & CONTACTS served by rail
URBAN ENTERPRISE ZONES: Exemption from sales tax on construction
TRACYE MCDANIEL | PRESIDENT AND CHIEF EXECUTIVE OFFICER
materials, FFE and other taxable purchases
MICHAEL CHROBAK | CHIEF ECONOMIC DEVELOPMENT OFFICER
BUSINESS RETENTION AND RELOCATION ASSISTANCE GRANT (BRRAG):
EconDev@choosenj.com Corporate income tax credit to companies relocating from one
609-297-2200 location to another in New Jersey or making capital investment
www.ChooseNJ.com equal to the value of the tax credits
SOURCES: NJ Department of Labor & US Bureau of Labor Statistics; American Community Survey, 2005-2009 Estimates,; NJ State Police & FBI, Uniform Crime Report; NJ Monthly
Magazine, 2010; NJ State Department of Education, Spring 2010; Board of Public Utilities; Tax Foundation; Wikipedia; Travelmath; Institute for Energy Research; Data current as of
September 2011
www.choosenj.com/cityofnewark.pdf
