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July 21, 2015
TO MOVE LG ELECTRONICS TOWER AHEAD
LG Electronics USA
reached a compromise agreement with environment critics to go forward
with a planned corporate tower in Englewood Cliffs. The new design is
about half the original height of 143 feet.
After 11 months of
negotiations, the new design will protect scenic views of the Palisades
along the Hudson River. William Cho, President and CEO of LG Electronics,
said: "We have found a solution that satisfies LG's business needs
and addresses concerns of our neighbors on both sides of the Hudson."
The new campus will
include a three-and-a-half story south wing and a five-story north wing.
The company said the redesign will reduce office space by 15
percent and allow it to double local employment to more than 1,000 by
HOUSE PASSES HIGHWAY SPENDING BILL AND
SENDS TO SENATE
The House easily approved, 312-119, the
bill to extend until December federal highway spending and sent it to the
Senate for an uncertain future. The Senate bill could extend the
highway program for two years or more.
Officials said the highway fund is in
trouble because the value of the 18.3 cent federal gasoline tax --- the
major source of funding --- has been weakened by better fuel economy,
inflation and other factors.
Rep. Paul Ryan (R-Wis.), Chairman of
the House Ways and Means committee called on the upper house to pass the
House measure without any unrelated measures such as reauthorization of
the Export-Import Bank.
AMERICAN WATER WORKS GETS $164 MILLION
GRANT FOR CAMDEN PROJECT
American Water Works received a 10-year
$164 million Grow New Jersey award from the New Jersey Economic
Development Authority (EDA) to build a new 250,000 square-foot
headquarters in Camden. The company is a Voorhees-based national
The facility would consolidate
corporate staff currently housed at locations in Mount Laurel, Haddon
Heights, Cherry Hill and Voorhees.
The EDA said the projects located
within the Campbell Gateway District, would retain 596 jobs in New Jersey
and create an additional 100 new positions.
AVIATION RESEARCH PARK TO BE DEVELOPED
Plans were announced for development of
The Stockton Aviation Research and Technology Park on sixty-five acres in
Egg Harbor Township. The park will be an auxiliary organization of
Plans call for an initial 60,000-square-foot
building with 49,000 square feet of research and office space adjacent to
the Federal Aviation Administration (FAA) William J. Hughes Technical
Center. The FAA will receive 7,000 square feet of space.
When all seven planned buildings are
constructed, the facility could generate more than 2,000 jobs related to
the FAA's Next Generation (NextGen) system.
LEGISLATURE PASSES PUBLIC-PRIVATE BILL
AND SENDS TO GOVERNOR
Both houses of the Legislature passed
and sent to Governor Christie for consideration a long-time goal of the
Alliance for Action --- a bill to facilitate public-private partnerships
for infrastructure projects. The bill would authorize public entities
to use private capital financing to fund viable projects.
The Alliance has long advocated
public-private partnerships and sponsored statewide conferences on their
use to finance transportation and construction projects. Alliance
President Philip K. Beachem said the P3 legislation would create
opportunities for local, county and state projects to benefit the
community, construction and labor.
The bill is structured as a five-year
pilot that could be re-examined in 2020.
GROUND BROKEN FOR HOLTEC CENTER IN
Ground was broken
for one of Southern New Jersey's most prominent development projects ---
the 600,000-square-foot manufacturing and technology center in Camden by
The project at the
southern end of the Camden waterfront was approved last year for $260
million in incentives by the New Jersey Economic Development Authority
(EDA). Holtec will make a $260 million capital investment, which was
described as the largest single private investment in Camden's history.
NEW DUAL-BRAND HOTEL COMING TO TEANECK
Enterprises, announced plans to bring a new hotel to Teaneck. The
350-room dual branded hotel will be developed at the mixed-use Glenpointe
building will be branded as both a Hampton Inn & Suites and Homewood
Suites by Hilton. White Lodging, based in Indiana, will handle the
hotel management. The site is near the corner of Glenwood Avenue
and the off-ramp from Interstate 95.
ALLIANCE FOR ACTION ANNOUNCES 2015
EAGLE AWARD WINNERS
Six leaders of New Jersey's economic
life will receive prized Eagle Awards at the New Jersey Alliance for
Action's 41st annual dinner on October 22. The dinner
will be held at the Hyatt Regency Hotel in New Brunswick.
Alliance Chairman George Laufenberg and
President Philip K. Beachem announced the members of Eagle Awards Class
of 2015. They are:
Executive Secretary-Treasurer of Northeast Regional Council of
Carpenters, Sigurd Luccassen Labor Award.
Veronique Hakim, Executive Director of NJ
Transit, Richard M. Hale Chairman's Award.
Robert Fischer, Chief Engineer of the NJ
Turnpike Authority, John L. Buzzi Engineering Excellence Award.
Sister Rosemary Jeffries, Past President of
Georgian Court University, President's Award.
Frank F. Criscola, Chairman and CEO of
Crisdel Group, Inc., Ellis S. Vieser Lifetime Achievement Award.
Richard Alaimo, President of Alaimo Group.
Walter Rand South Jersey Award.
GROUND BROKEN FOR TRANSFORMATION OF
HAHNE'S IN NEWARK
The long-anticipated transformation of
one of downtown Newark's landmark properties began when ground was broken
for the $174 million restoration of the old Hahne & Co. building on
The plan calls for rehabilitating and
converting the Hahne's department store into 160 mixed-income housing
units, 75,000-square-feet of street-level retail space and a new arts and
cultural center for Rutgers University. The retail will include a
30,000-square-foot Whole Foods.
The building has been vacant since 1987
when Hahne's was sold to May Department Stores Co., owner of Lord &
PEOPLE ON THE MOVE
CEO and President of Children's Specialized Hospital, was named the
next chair of the New Jersey Chamber of Commerce Board of Directors.
She succeeds Ralph Izzo, Chairman and CEO of Public Service
was nominated for appointment to the Passaic Valley Sewerage
Amy Fitzgerald has been promoted to Manager, Government Affairs
at New Jersey Natural Gas.