Invest Newark, the city of Newark’s economic development corporation, on Tuesday said it is the recipient of the Excellence in Economic Development Bronze Award from the International Economic Development Council for Economic Development Organization of the Year.
The award recognizes Invest Newark’s extensive work on equitable economic development throughout the city, including the organization’s programs such as the Newark Land Bank, Newark Fiber and the Language of Capital class.
“As an organization focused on inclusive and equitable economic development, our mission is to drive capital and opportunity into the hands of Newarkers, regardless of neighborhood or economic status,” Marcus Randolph, CEO and president of Invest Newark, stated. “We support small, local women- and minority-owned businesses, invest in world-class internet service, spur real estate development and execute economic development activities to produce and sustain economic growth, generate jobs and create wealth for the citizens of Newark. We are honored to receive this award and look forward to expanding upon our existing work to further import economic development opportunities for the city of Newark and its residents.”
Invest Newark works as a governmental partner to invest in the community in order to eliminate the racial wealth gap and create a city that allows all to prosper.
The organization has worked and continues to work on multiple equity projects to drive economic prosperity for all Newarkers, with recent projects such as: the Gant-Gilbert Arts Collective; the Invest Newark Infrastructure Fund; the Newark Land Bank; and the Section 8 Homeownership Conversion Program.