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Biz in Brief
Business news from around South Jersey.

by Julie Shannon
Data released from the New Jersey Division of Gaming Enforcement shows profits dropped at nine casinos in New Jersey, down $159.3 million from the second quarter of 2018.
Columbia Bank has been awarded a 5-star (“Superior”) rating from Bauer Financial, Inc., an independent bank rating company.
PayDay Payroll Resources has made Inc. Magazine’s annual Inc. 5000 list of America’s fastest-growing private companies. PayDay Payroll Resources had a three-year revenue growth of 137 percent.
New Jersey’s unemployment rate continued to drop in August to 3.2 percent—the lowest monthly rate since the U.S. Bureau of Labor Statistics began keeping state-level records in 1976.
Yummy Bazaar, an international food curator company, is expected to open in Glassboro this month.
Cooper’s Ferry Partnership and Hopeworks ‘N Camden launched a job portal for Camden to provide employment opportunities to Camden residents. Campbell’s Soup Co., Camden County College, Cooper University Hospital, Rowan University and Virtua are some of the organizations included on the site.
Curaleaf Holdings Inc., has entered into a sale-leaseback contract for roughly $28.3 million with real estate company Freehold Properties. The deal covers six Curaleaf properties, two of which are in New Jersey including the location in Bellmawr.
Strategic Funding Alternatives LLC acquired a 57,000-square-foot building located at 1020 Laurel Oak Road in Voorhees.
Campbell Soup Co. announced it will sell Valeo Foods, its European Chips business, for approximately $80 million. Campbell will retain Kettle Foods Ltd., part of the European Chips Business, in the United States and other geographies except for Europe and the Middle East.
According to the 2020 U.S. News Best Colleges rankings, Princeton University ranked first among national universities out of nearly 1,400 schools.
Vantage Real Estate signed Versi Vino to a long-term lease at 461 Route 38 in Maple Shade.
Cooper University Health Care Chairman George E. Norcross III announced that the health system, through The Cooper Foundation, has established a Bahamian Relief Fund to provide support to those affected by Hurricane Dorian. All donations raised will go directly to organizations working with the Bahamas. Norcross has kicked off the fundraising effort with a $5,000 donation.
Sen. Cory Booker announced a $3 trillion plan to address the threat of climate change with the creation of a 100 percent carbon-neutral economy by 2045, millions of jobs and a guaranteed right to clean air, water and soil.
Bed Bath & Beyond is reducing up to $1 billion in inventory over the next 18 months. Additionally, it is refreshing up to 160 stores and closing underperforming stores over the next few years.
M&T Bank is investing $9 million to further enhance its customer experience by redesigning 17 branches throughout the Greater Philadelphia region. In addition to installing public Wi-Fi, most of the branches will be modernized with teller lines replaced by convenient service desks, enabling employees to rapidly assist customers with a range of routine financial transactions. The new design also features remodeled front vestibules and customer seating areas, coffee stations, updated flooring, LED lighting, fresh paint, advanced technology and updated furniture. The renovations are expected to be completed by December.
This month the Murphy administration announced families throughout New Jersey who receive support from the state’s child care subsidy program will see $54 million in increased funding that will be implemented in two phases—the first installment in September and the second in January.
The U.S. Department of Health and Human Services announced roughly $1.8 billion in funding from the Trump administration to state and local governments to tackle the opioid crisis.
Additionally, the U.S. Department of Health and Human Services awarded a $500,000 federal grant to Atlantic County first responders to ensure they are properly trained to administer emergency treatment to individuals experiencing an opioid overdose.
Rowan College of South Jersey recently broke ground on a two-building expansion project. The first segment is a one-story economic development center that will house the New Jersey Department of Labor and Workforce Development, the Gloucester County Chamber of Commerce and the Gloucester County Economic Development Department. It is scheduled to be completed by September 2020.
The second segment is the Rowan Medicine Center, a two-story, 56,545-square-foot medical and academic building with academic space for the Rowan School of Osteopathic Medicine and public medical offerings. The first floor will consist of pain management, family medicine, pediatrics and Rowan Integrated Special Needs and a café. The second floor will have a learning resource area, a training room, academic classrooms and Osteopathic Medical Manipulation. The center is scheduled to be completed by February 2021.

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Published (and copyrighted) in South Jersey Biz, Volume 9, Issue 9 (September 2019).

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