Biz in Brief
Business news from around South Jersey.
Last month, Gov. Phil Murphy awarded Danish multinational energy company Ørsted a significant tax break that allows the company to retain federal tax credits. Once completed, Ocean Wind 1 is expected to generate enough power to fulfill 15% of New Jersey’s clean-energy goals.
First Lady Dr. Jill Biden visited the Hard Rock Hotel & Casino in Atlantic City last month to discuss the importance of investing in workforce training programs for high school and community college students. An expansion on training programs, she notes, will better prepare and connect students to high-paying jobs.
Samaritan’s 33rd annual Drive FORE! A Good Cause golf tournament recently raised more than $205,000. This money will both support and further the services that the in-home hospice, palliative and primary care provider offers to its community.
On July 27, Freedom Mortgage hosted its annual Rucksacks to Backpacks campaign at The Yard at Citizens Bank Park. In collaboration with The Phillies and the USO, Freedom Mortgage distributed about 100 backpacks filled with back-to-school supplies to military families.
State Farm recently presented Gloucester County’s Habitat for Humanity (GCHFH) with a $10,000 grant. These funds will continue the work that GCHFH does to ensure affordable housing—including offering options that limit mortgage payments to less than 30% of the family’s gross monthly income at closing.
First Bank and Malvern Bancorp, Inc. have officially merged after receiving the necessary regulatory approvals and a non-objection from the Board of Governors of the Federal Reserve System. Starting Sept. 11, all of Malvern’s current accounts will transfer to First Bank accounts.
Attorneys from the Workers’ Compensation Department at Capehart Scatchard recently competed in the Food Bank of South Jersey’s “Hunger Games” food competition. They competed “against” four teams to create a meal from items that the food bank typically distributes and to raise money to support its hunger-relief programs for children.
The New Jersey Department of Transportation announced $47.3 million in grants to help counties maintain local bridges through their 2023 Local Bridge Fund. These 42 grants will go towards bridge repairs and replacements across the state.
Campbell’s Soup Company spent $2.7 billion dollars to acquire Sovos Brands, the parent company of brand names such as Rao’s sauce and Noosa yogurt. Both Campbell and Rao’s headquarters are based in New Jersey, making this move one that Campbell’s CEO and President Mark Clouse says “fits perfectly with and accelerates [the] strategy of focusing on one geography, two divisions and select key categories that [the company] knows well.”
More than a dozen South Jersey teachers recently participated in the South Jersey Summer Institute for Educators, a three-week program hosted by Jefferson Health and organized by the Chamber of Commerce Southern New Jersey.
Sprouts Farmers Market announced that its Haddon Township location will open Sept. 8. The grocery store sells kitchen staples with an emphasis on organic and healthy food and offers a wide-selection of gluten-free options.
Representatives from Liberty Bell Bank came together to welcome a group of Camden students to Liberty Bell’s Marlton branch. The students were taking part in the Future Bankers & Financial Professionals Camp, a four week summer learning program designed to motivate and tap into the talent of high-achieving minority students from low-income areas.
After filing for bankruptcy and anticipating the lay-offs of more than 9,000 employees nationwide, David’s Bridal stores across South Jersey may stay open after all. A potential buyer could save 7,000 jobs and 195 stores of this Conshohocken-based company. A Trenton judge approved its sale to an investment firm on July 14.
The Occupational Safety and Health Administration (OSHA) has cited Amazon for workplace violations at its Logan Township facility in Gloucester County. The federal agency has recommended a fine of more than $15,000 for claims that certain tasks were putting employees in danger of physical harm. Amazon has denied the allegations.
New Jersey’s largest grower and distributor of legal marijuana, Curaleaf, announced a second round of layoffs in Camden County this year. In March, 40 employees were laid off from the Bellmawr facility and positions are currently in consideration of elimination at the Winslow location. This is part of a company-wide downsizing effort.
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Published (and copyrighted) in South Jersey Biz, Volume 13, Issue 8 (August 2023).
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