$1.73 Billion Economic Impact Spurred by Essex and Union County Nonprofit Community Developers
Statewide community development association releases new local economic impact report


Nonprofit community development corporations (CDCs) in Essex and Union County have contributed $1.241 billion and $487 million dollars, respectively, for New Jersey’s economy according to a report released today from the Housing and Community Development Corporation of New Jersey (the Network). The report is a supplement to Stronger Together: The $12 Billion Impact of Community Corporations in New Jersey, a study highlighting the investments made by the sector since 1989 and the resulting impact on the state’s communities.

“The nonprofit community development sector has been a strong contributor to the area and the state’s economy, making investments that have improved the quality of our neighborhoods as well as produce homes and jobs,” said Staci Berger, president and chief executive officer of the Network. “These mission-driven organizations are creating opportunities for thousands of New Jersey residents while generating much needed tax revenue for these counties and all of New Jersey.”

According to the new report, Union County nonprofit CDCs have completed 115 developments which have spurred 3,100 jobs and $229 million in labor income in the last 25 years. In Essex County, nonprofit CDCs have completed 313 developments, spurring 8,300 jobs and $590 million in labor income.

“Newark’s community based organizations have worked to revitalize our neighborhoods for over 40 years,” said the Honorable Ras J. Baraka, mayor of the City of Newark. “They are adding to our area’s economy by offering services for residents such as job training and early education. They’re employing thousands while also expanding small businesses and creating homes Newark residents can afford.”

"Nonprofit community developers contribute immensely to the creation of new affordable homes and can act as a catalyst for neighborhood revitalization," said the Honorable J. Christian Bollwage, mayor of the City of Elizabeth. "As the demand for services rises with new housing, the potential for the attraction and retention of economic development, generation of jobs and even new recreational areas also greatly increases; contributing to an overall improved quality of life."

The report which features Union and Essex County employment, housing, and demographic data was unveiled at an event hosted by New Community Corporation in Newark. Newark Mayor Ras J. Baraka, Assemblywoman Sheila Oliver (D-Essex/Passaic), local officials, area community developers, as well as faith-based and other local nonprofit organizations were on hand during for the release of the report which was sponsored by Citi Foundation.  

“New Community continues to strengthen the economy of our region with our latest housing rehabilitation project in Newark, which is investing $15 million into significantly improving the quality of life for more than 500 residents living in affordable homes,” said Richard Rohrman, chief executive officer of New Community Corporation. “By committing to help our most vulnerable residents, including low-income seniors, we aim to ensure that Newark’s economic progress is sustainable and includes all members of the community.”

“Stronger Together is a critical piece of research that demonstrates the extraordinary strength of community development institutions in Newark,” said Eileen Auld, New York Tri-State Market Director of Citi Community Development. “We are pleased to celebrate the accomplishments of the nonprofit community development sector and its positive economic impacts on the local economy.”

To access Stronger Together: The $12 Billion Impact of Community Corporations in New Jersey and the Union and Essex County supplemental reports, visit http://www.hcdnnj.org/StrongerTogether.

About the Housing and Community Development Network of NJ
The Housing and Community Development Network of New Jersey is the statewide association of more than 250 community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities, and strong communities. For more information on the Network, visit www.hcdnnj.org.

For more information:  Nina Arce
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