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2017 HIGHLIGHTS PRIVATE & INSTITUTIONAL INVESTMENT

From its roots as a prewar manufacturing hub, Camden continues to establish its position as a leader in new technology, medicine, and leading-edge research and development. Thanks to smart investment and the support of individual investors and major corporations, Camden City is laying a foundation of generational economic growth. The city now has a BBB+ Standard & Poor’s (S&P) credit rating, its best since the turn of the century.
 
Private businesses, public institutions, and nonprofits are betting on Camden to the tune of $2.5 billion, with an additional $1.1 billion in incentives doubling down on those dollars and catalyzing business incubators, charitable giving, small business growth, beautification, and infrastructure improvements. 
 
2017 Highlights
 
The billion-dollar Liberty Property Trust Camden Waterfront project, an effort to create a new live-work destination, represents Camden’s most significant private-sector investment in decades. The development will be home to American Water, NFI Industries, The Michaels Organization, and Conner Strong & Buckelew, and also includes a hotel, retail space, and residential housing.
 
The first to occupy its space will be American Water, the state’s largest water service provider. The company plans to open its new headquarters in 2018. The new facility reflects a commitment to Camden and the environment through green construction and features LEED Platinum Certification. American Water’s roots in Camden date back to the 1800s when it began serving the Cramer Hill neighborhood. In the past decade alone, the company funded projects in the city to the tune of $3.5 million. Beyond water service and infrastructure projects, the company participates in a variety of volunteer service hours as well as financial contributions to several neighborhood initiatives and projects.   
 
Construction is just about complete on the Subaru North America headquarters, as the company prepares to move into the second home it’s had in 30 years in South Jersey. By locating its 600 employees at a single campus, Subaru is poised to leverage efficiencies of communication, interoperability, and connection to the greater regional network at which Camden is the hub.
 
The $260 million, 50-acre Holtec International technology campus opened in 2017, the culmination of a multifaceted strategy to improve economic conditions in the city. By hiring city residents, using local contractors, buying local goods and services, and frequenting local eateries, Holtec has created hundreds of construction jobs to build the technology campus starting in 2014 and is poised to train and hire hundreds more in the years to come.
 
About $55 million in energy investments from utility provider PSEG will build in additional capacity to support private- and public-sector industrial development. The updates include higher-capacity electric transformers and new distribution lines, the replacement of some 44,000 feet of older gas lines with durable plastic pipe, and improved outdoor lighting and streetscapes that play an essential role in public safety.
 
2017 EDS AND MEDS Investment Highlights
Eds and Meds are an important economic catalyst for Camden and New Jersey. Universities, health systems, and research institutions are essential educators and service providers, and a crucial piece of the innovative growth that spurs modern economies.
 
Helping to lead the way, the Rowan University/Rutgers–Camden Board of Governors (RURCBOG) is charged with jointly developing shared curricula among its two partner institutions, producing significant economic development, and engaging the Camden City community on health-related issues. It aims to create a vibrant health sciences corridor anchored by and in partnership with Rowan University, Rutgers–Camden, Cooper University Health Care, MD Anderson Cancer Center at Cooper, Coriell Institute for Medical Research, and Camden County College.
 
Concentrating this kind of activity on the burgeoning RURCBOG Camden campus will help attract knowledge work, research funding, and additional corporate interest, thereby driving new residents to the area. Eds and Meds jobs now account for one of every eight jobs in the tri-county area, 12,000 of the 30,000 jobs in Camden City, and more than $2 billion in economic impact. 
 
In 2017, Rutgers University completed its new Nursing Sciences building, and RURCBOG broke ground on the $72 million Joint Health Sciences Center, the first of its kind in New Jersey and a hub for future job growth in the region. The center will add 580 full-time local jobs, create $39 million in labor income, and generate an additional $3 million in tax revenues.
 
Rutgers also recently announced plans for the development of a 100,000-square-foot business school building to meet skyrocketing demand for a Rutgers business degree in South Jersey. The project is funded in part by a special $5 million appropriation from the State of New Jersey and will add to the Eds and Meds corridor.
 
 
 
 
 

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