Crunching Numbers
$75,000
What Hopeworks received last month as a Foxwynd Foundation grant, which will support the Camden-based nonprofit’s efforts like placing an additional 37 young adults in permanent employment positions.
No. 10
After analyzing Bureau of Labor Statistics data from May 2024 to May 2025, where resume builder CVMaker ranks New Jersey nationally for decreased job resignations—which are down 12.16% this year.
$1.5 million
The maximum loan available to eligible cannabis companies through the newly approved NJ Lending for Equity, Access, and Financing pilot program, an NJEDA loan initiative intended to expand access to capital.
400
How many jobs Choose New Jersey estimates its mid-September economic mission will create. The six-day, four-city visit focused on deepening the state’s economic, academic and cultural ties with India.
77 acres
The size of Atco Lake Park, which Camden County and local officials recently announced will be the site of extensive construction that includes new water and stormwater infrastructure and a new parking lot.
$8,319,897
What the 30-year expected savings are from The Gloucester County Utilities Authority’s recently completed installation of a combined heat and power system, financed with about $14 million in loans from the NJ Water Bank.
Five
How many community revitalization projects in Camden will split the $5.7 million award from NJEDA’s $5.7 million Urban Investment Fund to rehabilitate buildings and public spaces impacted by COVID.
23%
The revenue increase of New Jersey’s online gambling industry in the same January-September window from 2024 to 2025, according to the state’s Division of Gaming Enforcement—representing a total of $2.12 billion.
Seventh
Where last month’s Best States for Nursing Graduates list by university ranking site Research.com places New Jersey, based on factors like median pay, employment and demand.
Breakdown
Mid Penn Bancorp, Inc., will acquire 1st Colonial Bancorp, Inc.
What Happened: Toward the end of September, the two banking institutions announced that they entered into an agreement wherein Mid Penn will acquire the Mount Laurel-headquartered 1st Colonial in a cash and stock transaction of approximately $101 million in value.
What It Means: Each company’s board of directors has unanimously approved the merger agreement. Under its terms, 60% of 1st Colonial common shares will be converted into Mid Penn common stock; the remaining 40% will be exchanged for cash. Meanwhile, 1st Colonial President and CEO Robert B. White will become Mid Pen’s senior executive vice president, Greater Philadelphia metro area market president and senior risk advisor.
What’s Next: Subject to the satisfaction of customary closing conditions—which includes regulatory approvals and approval by 1st Colonial shareholders—the transaction is expected to close late in the first quarter or early in the second quarter of 2026. Of the merger, White says, “The strategic transaction will create tremendous opportunity for our team members, valued customers and our dedicated shareholders. The combination will allow for an expansion of our product and service offering, as well as bring greater financial capacity for continued investment in our company and our communities.”
On the Move
NEW ROAD Construction Management announced last month that Charles (Chuck) Romanoli has been appointed president and chief executive officer. Romanoli is a degreed engineer with more than four decades of construction management experience.
Choose New Jersey President and CEO Wesley Mathews has announced that he will leave the organization next month to become PSEG’s vice president for state government affairs. Jennifer Lenhardt will serve as interim president and CEO during the transitional period.
Cooper Levenson has announced that Brittany Bonetti has been named as chair of the law firm’s Cannabis Industry Practice Group, of which she’s been a member since its inception. Bonetti is a partner based in Cooper Levenson’s Atlantic City and Cherry Hill offices.
Board-certified cardiologist Syed Rahmatullah, M.D., has joined Deborah Specialty Physicians at Mount Laurel, bringing with him an expertise in cardiovascular disease and echocardiography.
Executive Director of United Way of Gloucester County Michael Gower has announced his departure from the organization after more than 11 years of service. Gower will continue to serve in his role through mid-December and assist the organization through this leadership transition.
Late last month, it was announced that Jared Levy, MBA, CPA, has been promoted from chief operating officer to chief executive officer for Maryville Integrated Care. Levy, who has been with the organization for 10 years, succeeds the retiring Kendria McWilliams.
Duly Noted
Last month, MD Anderson Cancer Center at Cooper announced that surgical oncologist Umur Atabek, MD, FACS, has been recognized by the Commission on Cancer of the American College of Surgeons as one of its 2025 Cancer Liaison Physician Outstanding Performance Award winners—an honor that only 10 other physicians nationwide received.
When the International Bottled Water Association announced its 2025-2026 officers and board of directors last month, Medford’s Dan Kelly, chief executive officer of Polymer Solutions International, was elected to serve as board chair.
On Oct. 22, Deborah Heart and Lung Center’s board of trustees announced its two newest board members: John F. Bonamo, M.D., MS, FACOG, FACPE, and Glenn Davila.
