Business Climate

Overview

At the core of the workforce are City’s residents. Our city is also unusually diverse, with 24% of its residents foreign-born and 43% speaking a language other than English at home. Businesses in Newark benefit greatly from the City’s location and intellectual capital. They also can easily attract workers from New York City given its close proximity and a superb public transit system that makes it possible to make the commute in 15 minutes. Many of the 50,000 employees now working downtown – from high-end financial and insurance executives to administrative staff – come from beyond Newark’s city limits. Companies can easily recruit among the 10,000 graduates, including newly minted MBAs and lawyers, which the six colleges and universities in Newark churn out each year. They can also take advantage of a vast intern and alumni network, as well as continuing education and degree-track programs at the leading institutions.

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