Crunching Numbers
$425 million
The amount in total additional funding the Federal Highway Administration has awarded to both New Jersey Department of Transportation and NJ TRANSIT transportation projects, the most NJ has ever received.
2,977
The number of American flags that the American Water team installed at Camden Waterfront’s RCA Park Pier Sept. 7, a tradition that began with the 20th anniversary of the Sept. 11 attacks.
Eighth
Where a new study by business consulting firm Venture Smarter places New Jersey nationally in its recent rankings of the best states for tech workers.
100
How many Camden roads will be repaved in total, as two contracts totaling $6 million were awarded last month to advance a program launched in 2022 to improve the city streets most in need of work.
87,750
The square footage of Cherry Hill’s Barclay Farms Shopping Center, which was recently sold to real estate firms Bergman Real Estate Group and Capstone Realty Group USA for $16.1 million.
$15.13
What New Jersey’s statewide minimum wage will be on Jan. 1, 2024, when the current minimum wage is set to increase by $1 per hour for most employees.
Six
How many NJ colleges made last month’s U.S. News and World Report rankings of the top 100 universities in the nation, including Rutgers University–Camden, which jumped 29 places to land at No. 98.
$62,000
The amount granted to Cooper University Health Care by the Federal Communications Commission to introduce a program helping to improve military veterans’ access to health care using tablet devices.
Breakdown
The New Jersey Economic Development Authority (NJEDA) has announced that it has established a Diversity Finance Advisory Board.
What Happened: A survey by National Venture Capital
Associations indicated that the past decade has seen venture capital investments quadruple, but those increased opportunities have passed by startups founded by women and people of color. Last month, during the Business Leadership Conference sponsored by the African American Chamber of Commerce of New Jersey, NJEDA CEO Tim Sullivan recognized that “across the nation, women- and minority-owned startups have not benefited from the increase in venture capital investments that white-owned startups have experienced. The Diversity Finance Advisory Board aims to rewrite that narrative and ensure New Jersey-based diverse entrepreneurs have equitable access to institutional capital.”
What It Means: The 10-person advisory board will work to increase women- and minority-owned startups’ access to steadily rising capital. Represented by individuals from an array of professions and industries, the board will offer their knowledge, guidance and insights to New Jersey’s diverse entrepreneurs looking for ways to increase capital, access and investment opportunities.
What’s Next: The Diversity Finance Advisory Board will work with NJEDA to not only create and implement ways to advance The Garden State as a leader in supporting diversely owned startups, but also establish working partnerships that will encourage the growth of family-supporting job opportunities, facilitate investment and develop an inclusive community landscape.
On the Move
After the unexpected passing of Sheila Oliver, Gov. Phil Murphy has named Secretary of State Tahesha L. Way as New Jersey’s next lieutenant governor. Way was sworn into her new role during a ceremony last month at the New Jersey Executive State House, and will continue to serve as secretary of state.
As of Sept. 11, Christine Guhl-Sadovy has been appointed by Gov. Murphy as the new president of New Jersey Board of Public Utilities, making her the fourth woman to serve in the position.
The law firm Malamut & Associates recently announced that Kurt Jung, Esq., has joined the firm’s Cherry Hill office, where the attorney will focus his practice on employment litigation. Last month, the firm also welcomed James K. Grace, Esq., a seasoned litigator whose expertise includes civil and criminal litigation, wills, trusts, and probate, and real estate acquisition and development.
As of Oct. 10, Dr. Michael Johnson has officially begun his tenure as president of The New Jersey Innovation Institute.
Mariane Gardner has joined Hyland Levin Shapiro as an associate. In her new position at the Marlton-based law firm, Gardner will focus on corporate counseling and transactions, franchise law, and transactional real estate and finance.
Five new associates have recently been welcomed to the Parker McCay team: Kasey Gregg has joined the firm’s creditor’s rights practice; Alicia Lipton has joined its municipal and government practice; Kevin Maginnis has joined the medical malpractice defense practice; Mika Magura is concentrating his practice in corporate law; and Jacob Riley has joined the school law practice.
Duly Noted
Parker McCay has proudly announced that Jill Mayer, counsel at the firm’s Mount Laurel office, is now a certified compliance and ethics professional who can assist organizations in both understanding and addressing their legal obligations while promoting organizational integrity.
Leah Johnson, manager of an Edgewater Park McDonald’s, has won a Ray Kroc Award, an accolade recognizing top-performing McDonald’s managers across the globe since 1999. Johnson was among nearly 400 managers representing 70 international markets to receive the honor.
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Published (and copyrighted) in South Jersey Biz, Volume 13, Issue 10 (October 2023).
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