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Vast “creative economy” job growth and attendant urban amelioration is happening by the day in places such as Vinegar Hill and Bushwick in Brooklyn — hardly privileged communities versus Newark. Catalytic social philanthropy focused on this vibrant job-creation sector is changing the face of places like downtown Detroit (Detroit 2.0) and Las Vegas — where venture capital is being socially invested to create the kind of job-growth paradigm urban turnarounds connected to current economic realities will require. Engineers and artists are creating the kinds of companies and restaurants and bars and skinny jeans stores that compose the new seedbed for urban renaissance.
I once had an opportunity to attend a tour of the audible.com HQ in Newark and a subsequent roundtable discussion with Mr. Katz. He is so passionate about everything he does and is always wanting to do something good for Newark. I respect him as a successful businessman, but more than that, I respect him for being a genuine person.
Mr. Katz makes a very good point. Newark definitely needs more retail that caters to the creative class. At this point, businesses are being attracted to the city, and crime has gone down in certain neighborhoods (downtown, ironbound etc.) but there is another reason why people aren't moving to Newark yet; there's just not much to do. I do see positive change starting to happen though. Buildings on Halsey st., by all the universities, are being revitalized and filled up with cool restaurants, development in the Ironbound is picking up speed, and downtown developments like Rock Plaza lofts and the Teacher's Village development will hopefully add some much needed retail and night life to Newark.
Once you create critical mass, revitalization will start to snowball. I think Newark is just on the edge. The new residential developments downtown are filling up quickly so as more lenders see that people are moving to Newark in large numbers they will be more willing to provide money for new business. The way I see it, at this point, it's not a question of if, it's a question of when. I just wish that "when" would get here quicker.
Damn, that article was chock full of marketing mumbo-jumbo. "Creative" jobs are not inherently better than other jobs at revitalizing urban centers. There is some advantage in that "creative" industries are often less profitable and thus need relatively low-rent spaces--so they look to low-rent commercial and industrial districts, like downtown Newark, for their facilities. That may make them more sensible targets for Newark than large corporations, which will require more incentives to move to an otherwise undesirable location as the price savings are less important to them. But don't get too hyped up on the "artists will save the world" train. It doesn't work that way.
Damn, that article was chock full of marketing mumbo-jumbo.
with all that terminology he was throwing around, i was surprised that this article was written by a successful businessman and not some life long student or professor.
Damn, that article was chock full of marketing mumbo-jumbo. "Creative" jobs are not inherently better than other jobs at revitalizing urban centers. There is some advantage in that "creative" industries are often less profitable and thus need relatively low-rent spaces--so they look to low-rent commercial and industrial districts, like downtown Newark, for their facilities. That may make them more sensible targets for Newark than large corporations, which will require more incentives to move to an otherwise undesirable location as the price savings are less important to them. But don't get too hyped up on the "artists will save the world" train. It doesn't work that way.
I disagree.
Someone working at audible.com is much more likely to move to a borderline urban area then someone working for Prudential insurance.
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