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March 24, 2017
AMTRAK GATEWAY PROJECT WOULD MEAN 4-TO-1 ECONOMIC PAYBACK
A new Amtrak report says the $25 billion Gateway rail project between New Jersey and New York, would generate $4 for every one spent, according to a summary released by Amtrak.
Elected leaders are calling on President Trump to prioritize Gateway as he pushes for $1 trillion in public and private infrastructure spending.
Gateway would double service for New Jersey Transit and Amtrak customers to Manhattan, spur job growth and fortify a system that sustained widespread damage from Hurricane Sandy in October 2012, the report said. The new tunnel is scheduled to open in 2025, with the entire project complete in 2030.
THREE SOUTH JERSEY FIRMS TO BUILD OFFICE TOWER IN CAMDEN
Three South Jersey companies seeking to move to Camden have received approval from the state Economic Development Authority for tax incentives worth $245 million.
Conner Strong & Buckelew, based in Marlton, along with the Michaels Organization and NFI, plan to build a $245 million, 18-story office tower on the waterfront as part of a development project already underway. According to the proposal, the completed building would be the tallest structure on the waterfront.
The proposal includes a piazza that would overlook the Delaware River with views of the Philadelphia skyline. It would move almost 900 existing jobs into Camden and could be ready for occupancy by August 2019.
4/7/17 - Burlington County Alliance for Action, click here to register.
4/26/17 - Higher Education Construction Conference, click here to register.
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5/16/17 - NJ Statewide Transportation Conference, click here to register.
PEOPLE ON THE MOVE
David Robbins was promoted to President of South Jersey Gas.
Seton Hall University announced Mary Meehan has been appointed interim President of the college.
SUPPORT NEEDED FOR JCP&L PROJECT
JCP&L's plan to build a new 10 mile transmission line needs your help. Once constructed, the Monmouth County Reliability Project, a 230-kilovolt transmission line along an existing rail line will provide a stronger and more modern electrical system for more than 200,000 customers in 40 municipalities. A public hearing on the proposal will be held next week. Please write letters of support to
Honorable Gail Cookson
Administrative Law Judge
P.O. Box 605
Trenton, NJ 08604-9802
Supporters can also sign an on-line petition at http://monmouthreliability.com/support/. The current electric system violates federal reliability criteria and the regional grid operator says electrical system fails to meet minimum requirements.
SPECTRA ENERGY PARTNERS TO PURCHASE PSEG EQUITY POSITION IN PENNEAST PIPELINE PROJECT
PennEast Pipeline Company LLC announced that Spectra Energy Partners, LP, has entered into a purchase and sale agreement to acquire from PSEG Power LLC, a subsidiary of Public Service Enterprise Group Inc., its 10 percent minority equity position in the PennEast interstate natural gas pipeline project (PennEast).
Bill Levis, president of PSEG Power, emphasized PSEG will remain a PennEast customer for its committed capacity.
PennEast received a positive Draft Environmental Impact Statement from the Federal Energy Regulatory Commission and is on track to receive the Final Environmental Impact Statement in April. These are key milestones as the Project continues to advance toward providing a more secure energy future for the region when it goes into service in the second half of 2018.
FORMER ATLANTIC CLUB TO BE CONVERTED TO INDOOR WATER PARK
R&R Development Group has entered into an agreement to purchase the shuttered Atlantic Club casino in Atlantic City and convert the property into a large-scale indoor water park.
Plans for the site, which will be named Dolphin Village at Atlantic Club, include a 100,000-square-foot indoor water park, hotel rooms, restaurants and an arcade space.
The developer will put more than $135 million into the building and while construction on the water park could take one to two years, over 300 rooms could become available by this fall.
TRUMP'S TRANSPORTATION PLAN AND ITS IMPACT ON NEW JERSEY
What does a $1.94 billion capital plan buy in road and bridge construction? The New Jersey Department of Transportation has several massive ongoing projects under way to build new bridges, rehabilitate existing spans and to uncomplicate some complicated interchanges between major highways.
Click here to read the full story from Larry Higgs, NJ Advance Media.
AMERICAN WATER BUILDING UNDERWAY IN CAMDEN
Construction has begun on the future site of American Water Co. headquarters along the Delaware River.
Nearly 700 employees will call the five-story, 220,000-square-foot building home when it opens late next year.
The American Water building and other development on the waterfront have been hailed as significant steps toward the rebirth of the city.
Christine D'Agostino, Vice President of Operations for the Carpenter Contractor Trust was recognized by NJ BIZ as one of 2017's Best 50 Women in Business.
New York American Water announced it has named Carmen Tierno its new President, effective March 1, 2017.
George Pallas has been named Managing Partner of Cohen, Seglias, Pallas, Greenhall & Furman
3/9/17 - Getting The Work Out with NJ TRANSIT Executive Director Steven Santoro, click here to register.
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SOUTH JERSEY PIPELINE WINS APPROVAL FROM PINELANDS COMMISSION
The New Jersey Pinelands Commission has approved a construction of the B.L. England natural gas pipeline from Millville to an energy plant in Upper Township in Cape May. The 9-5 vote, with one abstention, came as environmental protesters held signs and called on commissioners to vote no.
The 22-mile pipeline will run mostly under existing Routes 49 and 50 from Estell Manor to Beesleys Point, with about 15 miles traveling through the Pinelands and requiring the commission's approval.
South Jersey Gas says the pipeline is needed to reinforce the supply system for 142,000 customers in South Jersey. Right now, only one natural gas pipeline services those customers.
"Our recommendation carefully balances the energy demands of 142,000 customers in Cape May and Atlantic counties, and protects and creates jobs while operating responsibly within the Pinelands," said Jeff DuBois, South Jersey Industry's executive vice president and COO, in a Jan. 23 press release.
SJI said the project will also help the electric-generating facility B.L. England convert from coal and oil to cleaner-burning natural gas. DuBois said the project would make the facility one of the cleanest power plants in the state.
TAJ MAHAL TO REOPEN AS HARD ROCK HOTEL & CASINO
Carl Icahn, Owner of the Taj Mahal in Atlantic City announced that a group of investors, led by Hard Rock International, have agreed to buy the property.
The deal could bring 3,000 temporary and permanent jobs to the city.
The property will be known as Hard Rock Hotel & Casino Atlantic City.
Jim Allen, chairman of Hard Rock International, said the company will invest $300 million in the property