Citizens Bank Teams Up with IBID and Newark Gift Card Program

A grant from Citizens Bank is adding to the impact of a program to boost businesses in the Ironbound District. The Ironbound Business Improvement District (IBID) has teamed up with Citizens and the Newark Gift Card Program to expand the number of businesses participating
in the program and to generate local buying power through the distribution of gift cards through a new Ironbound Local Heroes program. The initiative will reward local residents, workers, and other community members for their contributions to a better community for everyone who lives, works, or visits the Ironbound District in Newark. The Citizens grant augments an earlier grant from the Investors Foundation.

Launched in 2021 by Newark resident and entrepreneur Tamara Remedios, founder of Xplore Communications, the program has enrolled more than 140 businesses citywide, including dozens in the East Ward. At the time the program was introduced, Remedios noted a study showing that
local independent retailers recirculate 67 percent of their revenue back into the community, while only 14 percent of national chains’ revenue stays in the community. Of even greater significance in the Ironbound District, one of the state’s top dining destinations, restaurants recirculate 73 percent of their revenue back into the community, versus only 30 percent for national chains.

“This demonstrates that participation in the Newark Gift Card Program means supporting the heart of what makes the Newark community unique, and we believe the support of the IBID and Citizens Bank will help make an impact on the number of local businesses taking part, and the
amount of gift card value circulating in the Ironbound economy,” Remedios concluded.

Vince Davis, VP, Relationship Manager/Business Banking for Citizens Bank and an IBID board member, said the bank’s support for the program was a natural fit, given Citizens’ community focused approach to banking. “This program is a win-win for both local businesses and
consumers, and Citizens Bank is excited about expanding the program in the Ironbound and Newark,” Davis added.

Newark Gift Cards are simple to use. Select the value of the gift card you would like to send. Values range from $5-$250. Then select the recipient. The e-gift card can be sent via email or text message. You can also choose to print it out. Once the recipient receives the e-gift card, they can redeem it at participating businesses in Newark. The recipient can show the image of the gift card on their mobile device or print and present to the merchant. No special technology is necessary, as long as you accept MasterCard, and there is no invoicing or administration to get paid.

“The generosity of Citizens Bank and the IBID’s partnership with Citizens and Xplore Communications make for a winning combination,” added IBID Executive Director Vince Baglivo. “We look forward to rewarding heroes from throughout the Ironbound community.”

For more information about the Newark Gift Card Program, visit www.thenewarkgiftcardprogram, which includes a list
of all participating Newark businesses. For more information about the IBID, visit www.goironbound.com, which includes a list of participating Ironbound businesses. For more information about Citizens Bank, visit www.citizensbank.com.