The most populous city in New Jersey and the seat of Essex County, Newark is known as a major transportation hub for air, shipping and rail lines. One of the oldest cities in the US, Newark was settled in 1666 by the Puritans. The city’s strategic location at the mouth of the Passaic River has made Newark’s waterfront integral to the ports of New York and New Jersey.
Port Newark-Elizabeth houses the primary container shipping terminal of the busiest seaport on the east coast and Newark Liberty International Airport, one of the busiest airports in the US, also holds the title of the country’s first municipal commercial airport. With many white collar insurance, finance, import-export, healthcare and government jobs, Newark also hosts several major corporations; including, IDT Corporation, Panasonic of North America, Prudential, Audible.com and PSEG. A college town, as well, Newark’s higher educational institutions feature many law and medical schools; such as, Rutgers University Newark, as well as the renowned Seton Hall University. Newark is also home to the New Jersey Institute of Technology and Rutgers Institute of Jazz studies.
With significant federal, state and county facilities, Newark houses over 1,000 law firms and ranks as the third largest insurance center in the country, behind New York City and Hartford, Conn. The service industry, growing at a rapid pace in Newark and along with transportation are replacing the city’s original base, manufacturing, although Newark still supports some manufacturing and industrial powerhouses; such as Anheuser-Busch. Parts of Newark were designated as an Urban Enterprise Zone in 1983, which among other employment encouraging initiatives, offers a 3.3125% sales tax to shoppers. One of nine New Jersey cities eligible for Urban Transit Hub Tax Credits, Newark offers prorated tax credits to developers who invest at least $50 million dollars in businesses, within 0.5 miles of a train station. With so many business opportunities to grow your business in a hot seat of the northeast, all aboard for Newark! Next stop, success!