Newark is situated at the core of the New York/New Jersey area industrial economy. Newark is an important location for transportation including air, road, sea and rail. Transportation-related sectors and the telecommunications industry are the leading economic elements. Newark also includes a highly active international port. Newark is a major distribution and retail trade center in the mid-Atlantic region. In addition, it's one of the country's major centers regarding the wholesale trade of machinery and chemicals.
Newark is one of the nation's largest insurance centers and home to the headquarters of the insurance companies Mutual Benefit and Prudential Insurance Companies. It also includes the headquarters of numerous major banks and savings and loan associations. The headquarters of International Discount Telecommunications is also situated in Newark.
The manufacturing industries are significant parts of the economy. Employment is provided by companies that produce items such as electrical products, polymers, machinery, leather, electronic equipment, jewelry, chemicals, cosmetics, paint, varnish, perfume and cosmetics, foodstuffs and paper boxes.
Workforce New Jersey helps employers find and train new employees. The organization also assists employees with exploring careers, education and searching for jobs. The New Jersey Institute of Technology provides help to new companies, small manufactures and defense contractors via specialized programs.
Details about Newark, New Jersey: In 2009 the average earnings in the city was $31,000. The cost of living index in 2008 was at 140.7 which is very high when compared to the national average of 100. In Newark, 9% of the adult residents have achieved a bachelor's degree or higher.
The Newark region's top job providers:
- Newark Liberty International Airport
- Verizon Communications
- Prudential Financial, Inc
- University of Medicine/Dentistry
- Continental Airlines
- Public Service Enterprise Group
- City of Newark
- Prudential Insurance
- Horizon Blue Cross & Blue Shield of NJ
- The New Jersey Transit Corporation
- New Jersey Transit Bus Operations Inc
- IDT Telecom Inc
- University Health Plans, Inc
- Columbus Hospital, Inc
- Housing Authority of the City of Newark
- Passaic Valley Sewerage Commission
- Broadview Networks Inc
- Visiting Nurse Association of Essex Valley Inc
The primary employment segments in Newark:
- Trade, transportation and utilities
- Professional and business services
- Financial activities
- Leisure and hospitality
Newark businesses have opportunities to team up with helpful organizations such as:
- Newark Economic Development
- New Jersey Economic Development Authority
- New Jersey Small Business Development Centers
The Star-Ledger is a good resource for people interested in the local business community.