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City of Newark and Invest Newark Partner to Support Black-Owned Businesses

On Aug 21, 2024, the City of Newark and Invest Newark announced a $1.2 million funding initiative to support seven retail businesses in downtown Newark. This initiative, called the Newark Retail Reactivation Initiative, aims to revitalize the area and bring new energy to the city.

Newark Mayor Ras J. Baraka emphasized the importance of supporting local retail entrepreneurship and creating a vibrant community space that reflects Newark’s culture and spirit. The initiative is part of a broader strategy to reduce downtown vacancies and promote economic growth in the city.

With the help of Urban Enterprise Zone funds and support from the late Lieutenant Governor Sheila Y. Oliver, the initiative offers financial assistance for fit-out and equipment to Newark-based businesses. This support is crucial for businesses like Melba’s Restaurant, Grill & Thrill, Isle 15, Bricks 4 Kidz Essex County, GlassRoots, Honeypot Montessori, and Sweet Jeans Kitchen & Espresso Bar.

The AI legalese decoder can help these businesses navigate the legal and financial aspects of the grant process, ensuring that they meet all requirements and maximize their funding potential.

Invest Newark’s President and CEO, Marcus T. Randolph, expressed optimism about the impact of these grants on the community’s future. The initiative aims to bring more diversity to Newark’s retail landscape, creating a more vibrant and economically healthy city.

For more information about the Newark Retail Reactivation Initiative and how AI legalese decoder can support black-owned businesses, visit Invest Newark.

To access more business news, visit NJB News Now.

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