Newark Gets A New Co-Working Hub For Minority-Led Businesses
EqualSpace has opened a new co-working space in Newark, NJ to support minority-led businesses.
According to Tap Into Newark, the new ES550 Tech & Innovation Campus is a 50,000-square-foot, multi-floor facility situated at 550 Broad St. and promises to be a game-changer for entrepreneurs of color.
A Space For Minority-Led Businesses
The inception of EqualSpace was driven by Citi Medina‘s vision to create a safe and supportive environment for minority talent, Blavity reported.
Originally from Brooklyn, NY, Medina relocated to Newark and noticed a significant gap: no co-working spaces catered to the needs of people of color.
In response, Medina and Ralphie Roman co-founded EqualSpace in 2014, initially opening a 16,000-square-foot shared space and incubator named ES89.
This facility offered meeting rooms, event spaces, and content creation suites, addressing the immediate needs of local entrepreneurs.
EqualSpace’s ES550 Tech & Innovation Campus
With the opening of ES550, EqualSpace significantly expands its offerings. The new facility includes flexible workspaces for solo founders and teams, state-of-the-art event spaces for up to 300 people, and a fully equipped conference room.
Additionally, the campus features podcast studios, multimedia facilities, and support services for large-scale creative productions.
“Achieving this demanded intention, investment, unwavering commitment, and a bold audacity. Despite being a talent-rich community, we are sorely underinvested in,” Medina wrote on LinkedIn.
The development of ES550 was made possible through support from Audible’s Business Attraction Program and a $2 million grant from the New Jersey Economic Development Authority (EDA).
“This company’s vision is one that we are very laser-focused on at Audible, bringing more businesses to Newark and providing more opportunity and innovation,” said Audible CEO Bob Carrigan, according to Blavity.
Image Credit: EqualSpace
