In an amazing act of corporate giving that already has spurred business development in Newark — one that further demonstrates Audible’s commitment to its headquarters city — Audible announced Tuesday morning the details of a business attraction program that is providing grants of up to $250,000 each to companies that relocate to Newark in the area around Harriet Tubman Square.

Audible officials made it clear that the money is a grant — not a loan or even an investment — and that the money can be used for a variety of purposes, including but not limited to subsidizing a lease or a buildout of that space.

In addition, Audible announced it will provide other incentives, including a $500 monthly stipend for employees of those companies that move to Newark (or already live in Newark) in another effort to bring dollars to businesses.

Read the full article from ROI-NJ here.