opportunity-flamaAs construction projects mount, one of the key questions often asked is: “How does this project benefit Newarkers?”

The city has provided an answer in the form of their new Contract Developer Initiative, which is intended to “[Ensure] that our Newark-based businesses benefit from our City’s development boom,” said Mayor Ras Baraka according to a statement about the program.

The CDI program is meant to help Newark-based contractors vie for key bonding and construction contracts for city projects. The program, to be offered by the mayor’s office and Newark’s Community Economic Development Corporation (Newark CEDC), will walk residents through the process, all in an effort to put Newark-based, minority and women contractors on a path to win bonding and construction contracts, and to work with the city and large developers on major projects.

The program, which begins December 15th at Newark CEDC’s office at 111 Mulberry Street, will run 16 sessions. While 15 contractors will be selected for the initial cohort, the city has announced that applications will be accepted on a rolling basis.

The program will include classroom sessions, QuickBooks webinars and one-on-one business coaching. Participants who complete the program’s requirements will be listed as prime contractors for city contracts and gain access to financing to secure bonds, according to a statement about the program. The first cohort of Newarkers is expected to complete the program during the summer of 2017.

The training is being presented in partnership with The Cayamette Group, a national commercial insurance and bond provider. To learn more about the program, contact the Newark CEDC at (973) 273-1040.


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