Cooper’s Ferry Partnership

LIVE. WORK. INVEST. CAMDEN.NJ Future

03.14.14

CAMDEN 1957

CAMDEN TODAY

• Camden County Metro Policing• Most Connected City in Southern NJ• Knowledge Center for Southern NJ • Regional Destination • Economic Opportunity Act 2013

CAMDEN: A City of Possibilities

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A CITY CONNECTED

CONVERGENCE OF:

PATCO

RiverLINE

26 NJ Transit Bus Lines

RIVERLINK Ferry

The Ben Franklin Bridge

Major Roadways, IncludingUS 30 and 130, State Routes 38, 70 and 168, and Interstate 676

Camden GreenWay Trail Network

Future Glassboro-Camden Light Rail Line

REGIONAL TRANSPORTATION HUB

. KNOWLEDGE CENTER

33% of Camden’s 32,200 jobs are in the Eds/Meds

17,000private-sector employees work in downtown Camden

$1.11 BillionTotal spent in Camden By Eds/Meds

A REGIONAL DESTINATION

Over 2.5 millionvisitors came to the waterfront in 2013

Home ofAdventure AquariumCampbell’s FieldBattleship New JerseyWiggins Park & MarinaSusquehanna Bank CenterCamden Children’s GardenRiverLINK Ferry

2008

Roberts Pavilion Cooper Medical

School of Rowan University

2013

MD ANDERSON COOPER Cancer Center

Rutgers Graduate DormitoryCity Parks, Roads and

Streetscape

Over $750 Million invested in the last 6 years…with more to come

2008 - 2013

WINDOW TO PHILADELPHIA.

GROW New Jersey – Minimum Capital Investment

 

Type of facility Capital Investment South Jersey

Rehabilitation of an industrial facility

$20/sf $13.33/sf

Construction of a new industrial facility

$60/sf $40.00/sf

Rehabilitation of a non-industrial facility

40/sf $26.66/sf

Construction of a new non-industrial facility

$120/sf $80.00/sf

The minimum capital investment per square foot in Camden is:

GROW New Jersey – Minimum Capital Investment

 

Type of facility Jobs required New/Retained

Camden Jobs

New/RetainedStart-up Technology, or Manufacturing

10/25 8/19

Targeted Industries - Transportation, Defense, Energy, Logistics, Life Sciences, Health, Finance (excluding warehouse and distribution)

25/35 19/27

Other Businesses

 35/50

 27/38

The minimum number of jobs required in Camden is as follows:

GROW New Jersey – Caps on Annual Tax Credits for the Business

 

Area Base Tax Credit

Camden $35,000,000Growth Zone, Mega $30,000,000UTH $10,000,000Distressed Municipality $8,000,000Priority Areas $4,000,000  but  not  more  than  90%  of 

withholdings

Other eligible areas $2,500,000  but  not  more  than  90%  of withholdings

The Legislation provides caps on the amount of the annual tax credit available for a project.

 GROW New Jersey – Caps on Gross Credits

Area Base Tax Credit

Garden State Growth Zone, Mega $15,000

UTH $12,000

Distressed Municipality $11,000

Other Priority Areas (PA 1 or PA 2) $10,500

Other eligible Areas $6,000

The Legislation provides caps on the amount of the annual tax credit for each new job after adding the Base Credit and Bonus Credits.

GROW New Jersey – Camden Projects

 

Number of Jobs Minimum Capital Investment Total Tax Credits Available

35 to 69 $     5,000,000 $     20,000,000

70 to 99 10,000,000 30,000,000

100 to 149 15,000,000 40,000,000

150 to 249 20,000,000 50,000,000

250 + 30,000,000 Up to total amount of capital investment capped at 

$350,000,000

For projects that make a capital investment of more than $5,000,000 and create/retain at least 35 jobs the credit is the amount of the investment as provided below.

DEVELOPMENT OPPORTUNITIES.CAMPBELL SOUP COMPANY TECHNOLOGY CENTER

DEVELOPMENT OPPORTUNITIES.DOWNTOWN WATERFRONT

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L3 COMMUNICATIONS – Site

DEVELOPMENT OPPORTUNITIESWATERFRONT CORPORATE HEADQUARTERS

Eligible for Economic Opportunity Act of 2013

Cooper’s Ferry Partnership

BE PART OF THE CHANGE. CAMDEN.NJ Future

03.14.14