Newark Mayor Ras J. Baraka, Newark Councilman Augusto Amador, New Jersey Acting Governor Kim Guadagno, New Jersey Secretary of Agriculture Douglas H. Fisher, and other elected officials and civic leaders, today joined David Rosenberg, CEO of AeroFarms, Ron Beit, CEO of RBH Group, and their investment partners, Goldman Sachs and Prudential Financial Inc., to break ground on the world’s largest indoor vertical farm and new global corporate headquarters for AeroFarms, the leading commercial grower for vertical farming and controlled agriculture.
This project is a public private partnership that received public investments from the City of Newark, the New Jersey Economic Development Authority (NJEDA), as well as New Market Tax Credit allocation from Goldman Sachs, United Fund Advisors and Dudley Ventures, and over $30m of financing led by Goldman Sachs’ Urban Investment Group and Prudential Financial.
AeroFarms and RBH Group are building a state-of-the art 69,000 square foot indoor vertical farm and global headquarters in a converted steel factory located at 212 Rome Street that is owned by RBH Group. The first phase will open by the end of 2015, creating upon completion approximately 78 jobs in a local community with an unemployment rate that is twice the national average. Additionally, AeroFarms has partnered with the Ironbound Community Corporation (ICC) to create a recruiting and job training program targeting local residents that has already successfully made key hires for both skilled and non-skilled roles.
David Rosenberg, CEO for AeroFarms, said, “Today’s groundbreaking takes us one step closer to addressing the tremendous demand for our locally grown produce that is setting a new culinary standard for freshness and taste. We are excited to redefine not only the Garden State but also agriculture overall, and our goal is to increase access to healthier options by working with a wide-range of selling partners from retail to food service to farmers markets. Partnering with RBH, Goldman Sachs, Prudential, NJEDA, the City of Newark, and the ICC allows us to bring our global headquarters and the world’s largest indoor vertical farm close to where the consumer is, while also creating jobs. We are also happy to build on our deep ties within the Newark Community over the last 4 years, where we have had one of our working vertical farms in the dining hall of Philip’s Academy Charter School, offering the shortest farm to table experience around for the students and creating a better connection with how our food is grown.”
Ron Beit, founding partner and CEO of RBH Group, said, "Today we break ground on an exciting new development that will anchor our “Makers Village” project in the Ironbound neighborhood to compete toe-to-toe with the Brooklyn Navy Yard with a superior cost structure and greater transmodal access, bringing 21st century “maker-type” businesses to Newark and the State of New Jersey. We are delighted to bring our elected officials and financial partners together to introduce AeroFarms, a farming and technology leader, to the City of Newark, creating jobs for local residents and greater access to locally grown produce for our city.”
Mayor Ras J. Baraka said, “Newark is pleased to partner with AeroFarms, RBH Group, Goldman Sachs, Prudential Financial and the New Jersey Economic Development Authority on the creation of the world's largest indoor vertical farm. Newark is becoming a destination for high-tech and environmentally-friendly development, and this project in the East Ward will bring jobs and prosperity to our City. This development initiative is a win for everyone involved, and will have a major impact on our City’s economic and physical health, and our efforts to transform Newark into a City we can all believe in.”
Newark Councilman Augusto Amador said, “We thank our private and public partners here today, along with our neighbors and organizations in the Ironbound who have worked tirelessly to transform this neighborhood into a sustainable, clean and economically viable place to do business, live and work. The future for the Ironbound is brighter today than at any time I can remember. With the commitment of Governor Christie, Senator Booker and Mayor Baraka along with our private sector partners, we will continue to transform this community.”
"Renovating 212 Rome Street for a business like AeroFarms is exactly the type of economic development our community wants to see, as it goes a long way to taking it from brown and environmentally overburdened to green and vibrant. We are excited to be partnering with AeroFarms, RBH Group, and the City of Newark to put local people to work. With our support, AeroFarms has already made a number of key hires for both skilled and non-skilled roles drawing from the local community," said Joseph Della Fave, Executive Director, Ironbound Community Corporation.
Margaret Anadu Managing Director at Goldman Sachs who oversees some of the firm’s largest impact investing projects in communities around the country said, “Goldman Sachs is pleased to join New Jersey’s elected officials and our partners in the redevelopment of this community and the growth of AeroFarms’ innovative vertical farming technology that will help boost the local economy, promote healthy food options locally, and encourage environmental sustainability. The creation of high-quality, accessible local jobs is an important step in the revitalization of the Ironbound neighborhood.”
“We expect AeroFarms to build on Newark’s history as a hub for manufacturing and innovation by attracting and retaining businesses that will grow through the 21st Century,” said Lata Reddy, Vice President of Corporate Social Responsibility, Prudential Financial and President of The Prudential Foundation. “Next generation agri-businesses, such as AeroFarms, represent economic opportunity for Newarkers and development that will benefit the entire region.”
New Jersey Acting Governor Kim Guadagno said, “Today is another great success for New Jersey’s leading agriculture and food industries. AeroFarms innovative and adaptable agriculture solution marks a new day for the Garden State right in the heart of Newark’s Ironbound district and increases access to fresh produce in this urban region. Additionally, a renovated industrial site and the potential for nearly 80 jobs is great news for this community and is a sign of the continued growth we look forward to in Newark.”
“The New Jersey Economic Opportunity Act is effectively working to spur growth in our cities and create new job opportunities for our residents,” said NJ Economic Development Authority President and Chief Operating Officer Timothy Lizura. “The transformation of a vacant warehouse in Newark into a headquarters and manufacturing facility for an emerging company is exactly the kind of project the Act was created to advance. The novel technologies that AeroFarms is developing could affect growers around the world, placing New Jersey once again at the forefront of innovation.”
New Jersey Secretary of Agriculture Douglas H. Fisher said “New Jersey has a long agricultural tradition, and we are not only known for our rich farmland and high-quality product, but also as a leader in new agricultural technologies. We welcome AeroFarms indoor vertical farming to the Garden State and have had the chance to see their impressive operation. We look forward to their full-scale production of flavorful and healthy leafy greens year-round.“
Designed by KSS Architects, an award-winning architectural design firm, the new corporate headquarters and vertical farm is located on a 3-acre industrial site in the center of the Ironbound community in Newark, New Jersey, adjacent to elevated truck Route 1 and 9, a freight rail right of way, and to other industrial businesses along Rome and Christie Streets. Construction is being managed by Hollister Construction Services, a leading full-service construction manager specializing in corporate, educational, healthcare, industrial, retail and residential construction. When completed, AeroFarms will have the capacity to grow up to 2 million pounds per year of baby leafy greens and herbs in an environmentally controlled, safe, and sanitary facility. It will provide healthy foods to the local community as well as to other markets. AeroFarms is a model for successful, sustainable farming offering 75 times more productivity per square foot annually than a traditional field farm while using no pesticides and consuming over 95% less water.
For more information
AeroFarms
Marc Oshima
T: (973) 242-2495