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Festival Lights Illuminate Newark’s Halsey Street

Media Coverage
Source: New Jersey Business Magazine
March 7, 2024
Festival Lights Illuminate Newark’s Halsey Street

Newark Leaders Award $2.3M to 8 City-based, Black-Owned Businesses

The City of Newark and Invest Newark have pledged $2.3 million in funding for eight retail businesses as part of a new Retail Reactivation Initiative to increase the number of amenities in Newark’s Arts & Education District.

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“Our new initiative reflects a commitment to bring new life into vacant retail spaces and enhance Newark’s physical appearance to enrich the lives of residents, visitors and workers,” said Newark Mayor Ras J. Baraka in a statement. “The entrepreneurs opening businesses in the heart of our Arts and Education District embody the resilience and spirit of our city. Their businesses – which range from new restaurants to spaces for artists and comedians – add even more energy to a District that has become a commercial and cultural hub.”

Supported by Urban Enterprise Zone funds made available thanks to the reform law spearheaded by the Late Lieutenant Governor Sheila Y. Oliver, the Newark Retail Reactivation Initiative offers financial support for fit-out and furniture, fixtures and equipment to Newark-based businesses. The inaugural group of awardees consists of Black-owned ventures, with over half owned by Newark residents:

“These entrepreneurs are diverse, local, and prepared to offer quality amenities to our residents, students, and workers,” said Marcus T. Randolph, president and & CEO of Invest Newark. “They are investing in our downtown core and we are proud to be able to invest in them and their dreams. Powered by our commitment to innovation and love for our community, we’re creating an ecosystem that will shape the future of Newark for generations to come.”

Aligned with the city’s efforts to boost foot traffic to local businesses, enhance Newark’s commercial corridors and increase public safety, new festival lights have been installed on Halsey Street. This placemaking endeavor represents a collaborative effort between Newark Alliance, Newark Downtown District, Prudential Financial, McLaren Engineering Group and local stakeholders, reflecting our shared dedication to fostering a safe and vibrant urban environment. Halsey Street marks as the second phase of the Festival Lighting Project, building upon the success of the initial phase at Newark’s Treat Place.

“I’m so excited to see the festival lights up and all the incredible businesses that are getting a serious infusion of funds to grow and prosper in Newark,” said Evan Weiss, President and CEO of the Newark Alliance. “But what I’m most excited about is how our City, our State, and our economic development community came together to make big things happen.”