Aerofarms - VEGS1

Newark,
NJ
(2018)

Aerofarms – VEGS1

Timber and Agriculture

Investment

NMTC Amount: $10,585,174
Total Project Cost: $16,483,442

IMPACT

107 FTE jobs
48 construction jobs

CDEs

GS New Markets Fund, MBS Urban Initiatives, New Jersey Community Loan Fund

Investor

Goldman Sachs

Project Description

Improvement of a light industrial building and its temperature control systems to improve the operations of aeroponic vertical farming company; Industrial facility anchored by fresh food grower and distributor.

MAP

Address: 212 Rome Street, Newark, NJ 7105

Census Tract: 34013007400

Other New Jersey Projects

Cooper Cancer Center

Camden,
NJ
(2012)

Community, Fighting Cancer, Healthcare

CDE(s): Building America CDE, Dudley Ventures, PNC

Development of cancer treatment facility and leasing to affiliate.

KPIP Building 78 Annex

Kearny,
NJ
(2020)

Incubator

CDE(s): Capital One, New Jersey Community Loan Fund

Rehabilitation of the former “craneway” building adjacent to the Sponsor’s existing Building 78, which will result in 90,000 sq. ft. of flexible office space targeted to small business including businesses

Millville Arts Innovation Center

Millville,
NJ
(2016)

Adult Education, Business Development, College or Vocational Training, Community, Incubator

CDE(s): New Jersey Community Loan Fund

A new facility to house the expansion of Cumberland County College's arts and business education programs

Aerofarms/Makers Village

Newark,
NJ
(2015)

Adult Education, Business Development, College or Vocational Training, Community, Culinary Entrepreneurship, Food Manufacturing, Incubator, Manufacturing, Retail

CDE(s): Dudley Ventures, GS New Markets Fund

AeroFarms, a mission-driven company, developed a 69,000 sq. ft. industrial site into the world's largest indoor vertical farm for baby leafy greens, producing up to 2 million pounds annually.