by Femi Lewis
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Are Big Businesses Really Spurring Inclusive Economic Growth in Newark?
t’s a common belief that big businesses often rob urban towns of cheap rent and don’t give anything back in return. Well, the large institutions in Newark have bonded together to make that sentiment untrue. Through strategic partnerships between the mayor’s office, locally-based Corporate America firms, and major non-profit organizations, anchor institutions are creating a city that is steeped in equity and inclusivity. Formed six years ago, the Newark Anchor Collaborative has grown from a small group of seven “anchors” to a collaborative of 20 “anchors” under the Newark Alliance, which has a focus on racial equality and eliminating extreme disparities in wealth, employment, and income amongst residents and the local business community. “There are so many opportunities for these institutions to redirect their spending to Newark small businesses and help grow them,” said President and CEO of Newark Alliance Evan Weiss in a PBS interview. “One way of doing this is to encourage larger businesses to buy local supplies and services. Something as simple as getting their catering orders from Newark small businesses rather than national chains is a victory.” The vision of Newark Alliance is to work collaboratively to cement Newark’s status as one of America’s most diverse, prosperous, exciting, and equitable cities, serving as a national model for inclusive economic growth.
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ECONOMIC DEVELOPMENT
TOP 20 FOR INCLUSIVE GROWTH These institutions make up the Newark Anchor Collaborative, a community of executive leaders from leading public and private institutions anchored in Newark. They have pledged to commit to equitable growth in Newark, with an emphasis on racial equity.
1
Newark Public Library
2
Branch Brook Park Alliance
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3
Broadridge Financial Solutions
4
Essex County College
5
Newark Museum of Art
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