Biz in Brief
Business news from around South Jersey.
Burlington Stores, Inc. ranks No. 30 on Fortune’s Best Large Workplaces for Women.
The New Jersey Economic Development Authority released $52.7 million in tax breaks to 31 companies.
New Jersey American Water will spend $1.8 million to replace about 5,000 feet of aging wastewater main in Ocean City.
Retailer Forever 21 has filed for Chapter 11 bankruptcy and plans to close up to 178 stores in the U.S.
The Joint Health Sciences Center marked its grand opening in Camden on Oct. 15. The $70 million, four-story building houses research laboratory spaces for Rowan University and Rutgers University-Camden, simulation rooms for medical students at Cooper Medical School of Rowan University and instructional space and additional simulation labs for Camden County College.
Acenda Integrated Health was awarded $2.6 million in funding from the state of New Jersey to establish a regional partnership initiative to support families in Atlantic, Cape May and Ocean counties.
Bed Bath & Beyond estimates it will close 60 stores, including 40 Bed Bath & Beyond stores and 20 other concept stores by the end of 2019. Concept stores includes buybuy BABY and Christmas Tree Shops.
Wakerfern Food Corp. is incorporating inventory optimizer Focal Systems in almost 50 more stores throughout New Jersey, Connecticut, Pennsylvania, Maryland and New York. Wakefern launched a pilot program with Focal Systems in 2017 in stores in Cherry Hill, Cinnaminson, Hoboken and Morristown.
The Cape May County Airport will receive $2.4 million in funds from the U.S. Department of Transportation to upgrade infrastructure.
Recovery Centers of America opened a second medication assisted treatment (MAT) clinic, Bravo Medical in Somerdale.
Rowan University and Rutgers University-Camden will receive close to $898,000 for their biological chemistry, pharmacology and physiology research programs from the U.S. Department of Health and Human Services National Institute of General Medical Sciences.
The U.S. Small Business Administration awarded the New Jersey Office of Export Promotion $900,000 in federal funding through the state trade expansion program, which supports small business owners looking to export goods. The award is the largest in the program’s history.
The New Jersey Economic Development Authority recently unveiled its NJ Opportunity Zone Marketplace, aiming to connect investors with federal opportunity zones, which allow investors to shield capital gains profits from federal taxes by investing money into low-income neighborhoods.
The Exelon Foundation and Exelon Corp., Atlantic City Electric’s parent company, are funding up to $20 million to support startups in the Atlantic City area and the development of technologies that help climate change. This is part of Atlantic City Electric’s Climate Change Investment Initiative—2c2i—launched recently as part of Climate Week NYC.
Rowan University and the New Jersey Economic Development Authority recently signed a memorandum of understanding with the National Research Development Corp. of India—the largest technology transfer organization in India. Rowan and state officials feel this will lead to the NRDC to set up its first office in the United States at Rowan’s campus.
To read the digital edition of South Jersey Biz, click here.
Published (and copyrighted) in South Jersey Biz, Volume 9, Issue 10 (October 2019).
For more info on South Jersey Biz, click here.
To subscribe to South Jersey Biz, click here.
To advertise in South Jersey Biz, click here.