Industry in Newark, New Jersey

Newark is home to over 300 types of businesses, including 1,800 retail, 540 wholesale establishments, eight major bank headquarters (including those of New Jersey's three largest banks), and twelve savings and loan association headquarters. Newark is the third-largest insurance center in United States, and Prudential Insurance and Mutual Benefit Companies originated in Newark, and the former, the largest insurance company in the world, is still headquartered in Newark. Many other companies are headquartered in the city, including International Discount Telecommunications, New Jersey Transit, Public Service Electric and Gas (PSE&G), and Horizon Blue Cross and Blue Shield of New Jersey. The service industry is also growing rapidly, and transportation has become a growing business in Newark, accounting for 24,000 jobs in 1996.

The median income for a household in the city was $26,913, and the median income for a family was $30,781.