Prudential and Goldman Sachs Developing World’s Largest Vertical Farm in Newark

Thursday, March 12, 2015

RBH Group and its investment partners, Goldman Sachs Urban Investment Group, Prudential Financial Inc., and AeroFarms, together with the City of Newark and the New Jersey Economic Development Authority (NJEDA), announce the closing of a $30 million project to redevelop a former industrial site in the Ironbound community of Newark, NJ into the world’s largest indoor vertical farm and global corporate headquarters for AeroFarms, the leading commercial grower for vertical farming and controlled agriculture.

RBH Group and AeroFarms are building a state-of-the art 69,000 square foot indoor vertical farm and global headquarters in a converted steel factory located at 212 Rome Street that is owned by RBH Group. Currently under construction, the first phases will open in the second half of 2015, creating approximately 78 jobs in a local community with an unemployment rate that is twice the national average.  Additionally, AeroFarms has partnered with the Ironbound Community Corporation to create a recruiting and job training program targeting local residents.

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