August 25, 2024
The grant money has been split between restaurants, education centers, and community spots in Newark.
A group of small businesses owned by people of color and members of the LGBTQ+ community in Newark, New Jersey, have been named as recipients of about $1.2 million in grants under the Newark Retail Reactivation Initiative.
The Newark Retail Reactivation Initiative was created to help build the retail sector and support new businesses in the area. According to city officials, the grants will serve to help promote the city’s increased downtown development.
Mayor Ras J. Baraka said in a statement, “This initiative spurs our progress toward infusing Newark’s downtown with the energy of diverse, local retail entrepreneurship. We are not only enhancing the economic vitality of our city but also creating spaces that reflect the rich culture and community spirit of Newark. Together, we are building a brighter, more inclusive future for residents and a dynamic mecca for travelers.”
In the announcement made on Aug. 21, Invest Newark President and CEO Marcus T. Randolph explained that the grants were investments for the community’s future.
Randolph said, “Each of these companies brings something unique to Newark.”
The Newark Retail Reactivation Initiative was created by Baraka and Invest Newark in September 2023. The program was equipped to award grants to diverse small businesses up to the amount of $650,000, with the amount being determined by factors such as square footage. The grants are available to restaurants, shops, or other types of retail establishments that open in currently vacant downtown storefronts. The only requirement of the Newark Retail Reactivation Initiative grant is that applicants’ businesses must be open at least five days a week, at least five hours a day, as well as have already signed a lease.
The grants themselves are financed by the state Urban Enterprise Zone program, and the award can be used for exterior improvements to equipment purchases.
So far, seven grant recipients have been named this week; there are four restaurants and three “education or entertainment-related businesses.”
This round’s recipients and their awards include Melba’s Restaurant with an award of $650,000, Mediterranean Grill & Thrill with an award of $149,600, and Caribbean restaurant Isle 15 with an award of $127,060. Aside from the restaurant “edutainment” space Bricks 4 Kidz Essex County was awarded $112,000, nonprofit glass art studio GlassRoots was given a grant of $110,000, Honeypot Montessori was granted $60,620, and Sweet Jeans Kitchen & Espresso Bar was given $38,500.
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