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Audible’s efforts to attract new businesses and tenants to downtown Newark include transforming spaces like 33 Washington St. into hubs for local businesses. To that end, small businesses and retailers at 33 Washington will sublease space from Audible and be eligible for its new business support offerings, such as stipends for rent and mentorship. — Rendering courtesy: Audible
By Joshua Burd
Audible has unveiled a new series of business attraction efforts in its home city of Newark, including a plan to create leasing opportunities near its headquarters that has already benefited six companies in the tech innovation, hospitality and entertainment sectors.
The audiobook giant, long based at 33 Washington St. after moving to the city in 2007, said it was focused on growing the area around Newark’s Harriet Tubman Square in part by offering relocation assistance, capital for new leases and stipends for employees to live and shop locally. The program will target startups with at least 10 employees and at the seed or Series A stage — with a focus on firms with founders of color or female founders and those looking to expand in or relocate to Newark — coming on the heels of other successful business development efforts in the city.
The program has already helped tech startups ABF Creative, Gymble, co:census and Fitnescity lease office space at Fidelco Realty Group’s 550 Broad St., while Newark Culture Club is opening at 12 Halsey St. and Harlem’s BLVD Bistro will open a second location in the mixed-use space at 33 Washington St.
“We’re proud to be creating economic opportunities for the growing innovation sector, local businesses, workers and residents to thrive,” said Aisha Glover, vice president of urban innovation for Audible’s Global Center for Urban Development. “Our startup attraction efforts are leading the way in this resurgence by thoughtfully and equitably growing the tech and innovation ecosystem, empowering diverse founders and supporting the local economy.”
Audible’s other efforts in the city have included its Live Local Program, which offers a $500 per month after-tax rent subsidy for employees who choose to live in Newark. In 2015, company Founder and Executive Chairman Don Katz also launched Newark Venture Partners, an early-stage venture capital fund and accelerator that has invested more than $55 million into more than 100 companies, nearly 60 percent of which are founded by women or founders of color, fueling growth on par with or above emerging tech industry hubs such as Jersey City, Brooklyn and Washington, D.C.
Newark’s fastest-growing private employer has also worked with local high school interns and played a key role in the COVID response with the launch of Newark Working Kitchens, which has delivered more than 1.5 million meals and helped to support more than 37 city restaurants.
“This innovative pilot program is another scalable model that can be adopted by other companies seeking to make an impact in the cities they call home,” Katz said. “It is gratifying that since moving our U.S. headquarters to Newark and the launch of many efforts to impact and accelerate positive change, that so many Audible employees are drawn to work at Audible because of our People Principles, which includes our stated commitment to the people and city of Newark.”
The newest initiative will focus largely on the burgeoning arts and innovation district around Newark’s Harriet Tubman Square, formerly Washington Park, helping drive activity at office buildings such as 33 Washington St. and 550, 494, 540 and 536 Broad St. The program aims to leverage Newark’s unmatched data infrastructure, boost local spending to preserve and create jobs, address high retail and commercial vacancy rates and accelerate the growth of the city’s innovation ecosystem.
“Fidelco and Audible’s collaboration gives startups and aspiring entrepreneurs access to world-class amenities while they start and expand their businesses in Newark at the historic 550 Broad,” said Marc E. Berson, chairman of Fidelco Realty Group. “We are proud to collaborate with Audible in this important effort.”
Audible’s plan also includes transforming 33 Washington St., noting that it will sublease space to small businesses and retailers that will also be eligible for its new business support offerings, such as stipends for rent and mentorship. Nina Cooke John, the architect and artist behind the new Harriet Tubman monument in Tubman Square, will lead the building’s redesign into a mixed-use space that is engaging for anyone who lives, works or studies in the Tubman Square neighborhood.
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