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Newark today has a number of different selling points which embrace a combination of factors to distinguish it from other urban centers.
Located at the heart of of the Northeastern New Jersey Region, the City of Newark serves as a major hub of economic development. For more than 200 years, Newark has been the States leader in financial and technological development, manufacturing, transportation, international trade, education, health care and more.
As a major transportation hub, Newark is a national and international crossroads for commerce and tourism. Served by a major and fast growing international airport, it is reinforced with major highways, trains, subways and busses that run through the city each day. More than $58 Billion worth of goods carried on 4,500 vessels passed through Port Newark/Elizabeth in 1994, making this one of the busiest seaports in the world.
Major businesses have U.S. and International headquarters in the City of Newark - Prudential Insurance Company, Blue Cross and Blue Shield of New Jersey, Public Service Electric & Gas Company and Bell Atlantic are among the leaders in the City's business community. Newark is also a prime legal center, housing two major law schools and federal and state courthouses.
Beginning in the mid-1980's, a revitilization spurred by the more than $6 Billion in investment has created new housing, commercial development, arts and entertainment, and has attracted many compliments for this Renaissance City. New housing construction and neighborhood redevelopment has spurred retail and commercial investments. Newark is home of the States largest public library and its most prestigious museum. It is also a center of higher education including five major universities and colleges with a population of 45,000 students, faculty and staff. Construction of the New Jersey Performing Arts Center, which will open for the 1997 season, with a world class 2,700 concert hall and 500 seat theatre, is anticipated to bring 470,000 people into the City each year.
Newark is ranked 46th among US cities in total population in 1980. It is the largest city in New Jersey. Population density is 13,639 per square mile, 5th densest among major cities.
With 5 million people in the geographically compact Northeastern Region, Northeastern New Jersey is a powerful buying market. Fifty-six percent of the households in Northeastern New Jersey are earning more than $50,000 per year. With a household effective buying income of almost $68,000 and retail spending over $48 Billion, the Northeastern New Jersey Region ranks in the top 5 rregions in the country for retail sales.
This buying power is generated in 141,200 workplaces - 65% of all New Jersey business establishments. Our labor force tops 2 million people and nearly 31% of them work in the service sector.
AT&T
PRUDENTIAL
JOHNSON & JOHNSON
ALLIED SIGNAL
AMERICAN HOME PRODUCTS
TOYS "R" US
CPC INTERNATIONAL
WARNER-LAMBERT
PUBLIC SERVICE ENTERPRISE
CHUBB
INGERSOLL-RAND
AMERICAN STANDARD
SCHERING-PLOUGH
UNION CAMP
SUPERMARKETS GENERAL
FIRST DATA
GENERAL PUBLIC UTILITIES
FOSTER WHEELER
U.S. INDUSTRIES
AUTOMATIC DATA PROCESSING
ENGLEHARD
BECTON DICKINSON
N.J. PAC ART CENTER
Northeastern New Jersey is the ideal host for both the very large corporations and the smaller, more technology-dependent firms. Forbes Magazine recently reported that New Jersey is home base to 21 of the nations biggest corporations, which makes us the seventh most popular state for corporate headquarters. On the other end of the spectrum, the region has many small to mid-size companies which can take advantage of easy access to superior technology, up-to-date telecommunications and a highly educated, motivated work force.
Our labor force tops 2 million people and nearly 31% work in the service industry. Emerging and growth industries in the Region include Business/Professional Services (Accounting, Consulting, Legal, Media, Marketing); Information Technology and Communications; Pharmaceuticals, Health Care Devices and Delivery of Health Care; as well as International Trade, Distribution & Warehousing.
Paris Real Estate can provide you or your company with commercial real estate for all your needs, whether it's a major warehouse or a railroad loading.
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