Project Financing > Working in Newark Neighborhoods (WINN) > Newark Refrigeration Warehouse

Newark Refrigerated Warehouse

Project: Port Newark Refrigerated Warehouse – Juice Pumping Facility

Site:  289 Miller Street

NJRA provided $537,000 to the Newark Refrigerated Warehouse (NRW) through a WINN Loan as permanent financing for the creation of a Juice Pumping Facility and the installation of energy conservation upgrades to an existing warehouse facility. 

NRW operates a 4.0 million cubic feet public refrgerated warehouse facility in the Ironbound section of Newark.  The WINN funding provided enhancements and value to the current facility making it more energy efficient and eligible for additional rebates through the energy supplier. These state of the art enhancements have allowed NRW to be able to handle, store, and process foodds, primarily imports and exports through Port Newark.

 
The project was a part of an overall economic development/redevelopment effort aimed at creating additional blue collar jobs for local residents.  NRW anticipated that an additional 17-25 new full time jobs would ultimately be made available to residents of Newark and the surrounding area. The energy enhancements provided through the WINN loan allowed for the retention of the existing 50 full-time NRW employees.  NRW was able to reduce their energy cost resulting in sufficient savings that permitted the warehouse to remain operational without any significant cost increases.