Community Development

In Newark, A Company Shows Up for Its City

November 20, 2020  • Aspen Ideas Now

Newark Mayor Ras Baraka’s family has called the city home for over 100 years. So has Prudential Financial. That kind of longevity often instills—even requires—commitment to community, says Prudential Director of Impact Investing Ommeed Sathe. Through creative collaboration between the public and private sectors, city and company have brought equity to the center, and have built trust with Newark residents and each other. From affordable housing to reskilling workers, to the development of the arts and commercial spaces, how can public investments make sense for a company while having a meaningful impact on people? How are COVID, economic recovery, and racial unrest challenging these initiatives while presenting opportunities for a policy reset? Baraka and Sathe tackle these questions in discussion with Jennifer Kingson, along with what’s on their wish list for the Biden administration.