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

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.