March 10, 2015
RBH Group and its partners, Goldman Sachs Urban Investment Group, Prudential Financial Inc., the City of Newark, the New Jersey Economic Development Authority and AeroFarm have closed on a $30 million project for the development of a former industrial site into a state of the art 69,000 square foot indoor vertical farm and global headquarters for AeroFarm in Newark, New Jersey.
Agtech leader AeroFarms is establishing the world’s biggest indoor farming operation which will boost the local economy, promote healthy food options and support sustainability through the production of fresh produce to Newark as an anchor project under RBH Group’s “Makers Village” development project which is bringing 21st century businesses to the city.
The project has also received New Market Tax Credit allocation from United Fund Advisors and Dudley Ventures.
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