To identify potential industrial development opportunities related to Port Newark and the clean‐tech industry that could lead to redevelopment of existing brownfield sites, the City of Newark retained Camoin Associates to conduct an economic market trends analysis. Local and regional emerging business, employment, and occupation opportunities in clean-tech industries and related sectors were assessed, including transportation and logistics, food manufacturing, alternative energy, waste management, smart grid, environmental engineering, etc.
Our team identified opportunities at the crossroads of economic growth and environmental sustainability by developing core criteria to assess market trends:
- Market Driven ‐ Opportunities must be feasible based on regional, national, and global market trends.
- Local Economic Benefit ‐ Opportunities must have a positive impact on the local economy in terms of jobs, sales, and wages including providing livable wage jobs for Newark residents.
- Sustainable - Opportunities must fit with the city’s sustainable development goals.
Based on the assessments and findings, Camoin Associates crafted strategies for the city’s consideration and integration with the regional Together North Jersey project (togethernorthjersey.com).
- Targeted Economic Analysis as a Component of a Regional Strategy
- Analysis of Industry Employment, Wages, & Occupations
- Criteria to Identify Achievable, Sustainable Opportunities