March 18, 2009 > Newark adds to business base
Newark adds to business base
By Amisha Gandhi
As Newark grows in population, it has steadily expanded its business base. The city's goal is to increase jobs during trying economic times.
The recent addition of solar energy company DayStar Technologies, Inc., is expected to bring approximately 150 new jobs to its new location in the Pacific Research Center. Sun Microsystems formerly occupied the 157,000 square-foot space.
Companies including InSound Medical, Inc., NovaRay and Revance Therapeutics have moved into Newark to enjoy low lease rates and an abundance of commercial space. These new companies will join establishments like Novasys, Endocrine Technologies, and Socket Communication.
In addition to high-tech, commercial activity in the city is increasing. New restaurants include BJ's Restaurant and Brewhouse on Mowry Avenue as well as the Coach Store in NewPark Mall.
With the recent closure of Ross Stores Inc., two buildings on Central Avenue have been leased by FedEx Ground. An area measuring 326,000 square feet is used as a distribution center, making it the company's third location in the Bay Area. Spokesman David Westrick says the full employee capacity of the distribution center will be several hundred people.
Community Development Director Terrance Grindall believes the fundamentals of the Bay Area economy are strong enough to withstand the nationwide economic recession, allowing the area to grow industrially and commercially. In the midst of the national economic downturn, he feels Newark will remain economically viable, providing a ray of hope for the region.