A former industrial site in the Ironbound community of Newark, N.J., will be redeveloped into the world’s largest indoor vertical farm.
The $30 million project was recently announced by RBH Group, Goldman Sachs Urban Investment Group, Prudential Financial Inc. and AeroFarms, in partnership with the City of Newark and the New Jersey Economic Development Authority (NJEDA). The vertical farm will serve as the global headquarters for AeroFarms.
“We are excited to redefine not only the Garden State but also agriculture overall,” says David Rosenberg, CEO for AeroFarms. “Partnering with RBH, Goldman Sachs, Prudential, the City of Newark and NJEDA allows us to bring our global headquarters and the world’s largest indoor vertical farm close to where the consumer is, offering a fresher, more nutritious and delicious product while also creating jobs in the community.”
According to Ron Beit, founding partner and CEO of RBH Group, AeroFarms will anchor its broader Makers Village development project in the Ironbound neighborhood, which will bring 21st century businesses to Newark.
AeroFarms, founded in 2004, has a mission to address the global food crisis through building, owning and operating farms that grow local, safe and healthy food in a sustainable and socially responsible way. The indoor vertical farm in Newark will be used for the production of baby leafy greens and herbs. In addition to serving the New York Metro area, the company has plans for multiple farms in major U.S. cities, as well as three other continents.