Corporate. Schar, an Italian manufacturer of gluten-free foods, is constructing its first U.S. facility at Pureland Industrial Park in Logan. The $15 million, 50,000-square-foot complex will create about 50 jobs. In other good news, Cherry Hill-based Subaru of America reported that January was its 11th consecutive month of record sales. It moved 18,858 cars, a 21 percent boost from that month a year earlier, as compared with 17 percent gains for the U.S. auto market as a whole. Also a major coup, Lockheed Martin’s Moorestown Mission Systems landed a $107 million Department of Defense contract for the Space Fence program, which tracks objects in low-earth orbit, replacing a system that’s been in use since the ’60s. Meanwhile, Voorhees-based American Water Works Co. is selling its Arizona- and New Mexico-based subsidiaries for $470 million. It has also canceled plans for a stock offering this year. In regional moves, InTest Corp. is relocating its Mount Laurel headquarters to Cherry Hill, a move that will save $50,000 year in annual overhead. Mount Laurel-based Ancero has acquired Cherry Hill’s Integrated Network Consulting, an IT managed services company, to expand both companies’ IT service offerings, including voice-over-IP phone service and cloud computing. And, in Gloucester County, Sony Corp. will close its Pitman CD manufacturing plant by March 18, slashing 300 jobs and costing the town about $400,000 in tax revenues, according to Mayor Michael Batten.
Government. The U.S. Small Business Administration awarded a $1.4 million grant to the New Jersey Small Business Development Center, which will use the funds to boost business growth at its 11 regional centers, including one at Rutgers-Camden. The New Jersey Department of Labor awarded workforce training grants of as much as $72,000 to companies including Lumberton’s Sancoa International, Mount Laurel’s Paetec Communications and Teknion, Moorestown’s Interstate Connecting Components, Payroll Associates, SP Auto Parts and Masco Bath Corp., Evesham’s Delaware Valley Urology and Cinnaminson’s Pacor Inc.
Retail and dining. Several Properties Group has purchased the property previously occupied by Cherry Hill Toyota, and will transform part of it into a strip mall. Krispy Kreme franchisee Dough Nuts for Doughnuts LLC is hoping to capture area doughnut fans with a store in Collingswood, and hopes to follow with six to eight more franchise locations in South Jersey in the coming years. Acme announced the closing of stores in Moorestown, Cinnaminson and Millville. Meanwhile, Ted’s on Main in Medford closed, replaced by the Jamaican Scotch Bonnets. Collingswood’s IndeBlue Indian Cuisine is expanding into the spot previously occupied by Blackbird, which in turn moved to Haddonfield’s main Haddon Avenue drag. Voorhees has a new tapas restaurant, Cafe Two to Tango; while Cherry Hill has added Jalapeño, a new Mexican spot at Barclay Farms.
Comings and goings. Medford’s Richard Cooper has taken on the role of president at Pro-Tech Energy Solutions, a solar energy specialist. And, TD Bank has appointed Washington Township’s Timothy Boyle to regional vice president of commercial lending in Gloucester City. James H. Landgraf has joined Dilworth Paxson LLP in Cherry Hill as of counsel in the litigation department. Lourdes Health System’s Young Leadership Committee has appointed Blank Rome attorney Michael Iannucci as chairman. American Water Works director of government affairs Lendel Jones has been named to the board of the New Jersey State Society. Archer & Greiner attorney Juhan Runne has been named to the Lutheran Foundation of New Jersey board of directors. Meanwhile, Shawn Mirza has launched the Cherry Hill-based Dutch East India Company, a private equity firm investing in seed capital projects. And, Stacy McGuigan of Everyday Celebrations in Washington Township has launched Interconnections for Women, a quarterly networking group designed specifically for home-based entrepreneurs in Gloucester and Camden counties.
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Published (and copyrighted) in South Jersey Biz, Volume 1, Issue 2 (February, 2011).
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