Camden County 2021 An in-depth review of the key issues facing Camden County’s economy, featuring the exclusive insights of prominent industry and political leaders.
Camden County: As a staple market along the Delaware Valley, Camden County has the foundation for not only a strong pandemic recovery but for a robust era of growth in the new economy. At the center of key infrastructure developments, as well as a solidified but still growing eds and meds sector, the county’s best days are ahead.
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Looking forward: The transformation of Camden County is well underway, with significant signs of success With its strategic location along the Delaware Valley, Camden County is no longer just a suburb of Philadelphia but rather a growing metro anchoring a bevy of opportunities for the South Jersey region. The county’s overall affordability, robust healthcare sector and family-friendly neighborhoods exemplify the transformation happening across the river. Its efforts toward infrastructure improvements, workforce development and economic diversification make the case that Camden County’s best days are just ahead. With a rich history rooted in the early days of American history, Camden County features 37 municipalities serving the needs of its 513,000 residents, as of the 2020 census. While the COVID-19 health crisis kneecapped the county’s pre-pandemic unemployment rate of 4.5% in March 2020, the overall snapshot of the local economy paints a brighter picture more than a year into the pandemic era. Importantly, the unemployment rate has clawed back more than half the peak percentage losses suffered in May 2020 (16.9%) to stand at 7.2% in May 2021, according to the Federal Reserve Bank of St. Louis. Trending lower month after month, Camden County’s jobless rate reflects New Jersey’s overall 7.3% as of June 2021. 4
| Invest: South Jersey 2021 | CAMDEN COUNTY
A decisive win for the county throughout the pandemic has been its handling of the coronavirus vaccination campaign, a shared public-private effort that has been key in meeting the needs of county residents. “During the pandemic, we shifted our focus completely to help with COVID-19 testing logistics in the city and partnered with other nonprofits to distribute food to those in need. One of the ways we look at our station and standing in the community, is to make sure that we can always be nimble enough to adapt to changing environments and the changing needs of the community,” Camden Community Partnership, Inc. President and CEO Kris Kolluri told Invest:. As of July, Camden County stood ahead of the country as a whole, with 70.7% of all adults with at least one dose, according to the Centers for Disease Control and Prevention. In comparison, nationwide, 68.6% of adults had received at least one dose as of July. Though not out of the woods yet as it relates to the pandemic, stabilizing unemployment rates and a successful COVID-focused risk-management approach bode well for the county’s economic development efforts in an economy reshaped by the coronavirus.( )
CAMDEN COUNTY INTERVIEW
Rising tide From food packaging to life sciences, Camden County is poised for a strong recovery
Louis Cappelli Jr. Commissioner Director – Camden County What differentiates Camden County? Our tremendous infrastructure, outstanding school systems and neighborhoods, and proximity to Philadelphia distinguish us from other counties in New Jersey. Land in Camden County is much cheaper than in North Jersey or some of the Philadelphia suburbs, which is also an advantage, and we have major thoroughfares running through the county. What specific industries in Camden County are experiencing the most growth? There has been a tremendous expansion in food processing and packaging. Life sciences is another area that has seen a lot of growth and we’re hoping to attract more biotech developments. Based on our medical and research infrastructure, as well as our proximity to Philadelphia, we see ourselves as a prime target for the biotech industry. How is the Camden County government helping to stimulate the regional economy? Funding small businesses throughout the pandemic crisis has been one of our most important matters. In our first round of funding, we made $30 million available to local businesses that were affected by COVID. We’ll be allocating some portion of the American Rescue Plan to that effort as well. We’ve done our best to keep businesses in business during the pandemic. Regarding growth opportunities, we continue to provide whatever services are requested through our Camden County Improvement Authority, including project management and site identification. We’re also continuing to make significant investments in our infrastructure, including road improvements and demolishing more than 300 abandoned properties, which is helping to foster economic development opportunities. To meet local workforce demand, we have a very
aggressive workforce development program with our OneStop system. Helping businesses to train workers has become a very busy, collaborative effort with the private sector to ensure that local talent is trained for the jobs that are available in Camden County. What is your outlook for Camden County? Although our unemployment and poverty rates are slightly higher than they were pre-pandemic, we’re recovering very quickly and are very optimistic. We’re doing well, and each week we’re seeing more good news about the number of people employed in Camden County and businesses reopening. We’ve made extraordinary investments in Camden City, from parks to infrastructure to athletics facilities. A rising tide lifts all ships, and by lifting Camden the rest of the county will benefit. www.capitalanalyticsassociates.com
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Victor Carstarphen Mayor City of Camden
What makes Camden an attractive location for business expansions and relocations? Camden is blessed with an incredible location, tremendous access and all forms of transit. We’re encouraging our corporate partners to urge their employees to buy and live in Camden. With increasing economic development and growth in the city, we’re planning for new opportunities for residents and stakeholders. When speaking with our corporate partners, we take pride in the momentum we are building in Camden. Our partners are all in too. The biggest thing about partnerships is that the corporations have done a good job in engaging with the community and have helped play a role to empower our residents and youth. How is the city expanding affordable housing? We’re knocking down 300 abandoned homes, with a $15 million grant. These are unsafe structures that blight our city and have been a public safety concern for far too long. We now have the ability to prepare our residents for the homebuying process and to engage with potential development partners as we plan for new housing opportunities. We have some strong CDCs and nonprofit developers in Camden, and we want to help build their capacity so they can create affordable housing options within our neighborhoods. Along with the nonprofit partners, we are working with The Michaels Organization to rehabilitate existing complexes and even offer newly constructed quality affordable units. What is your near-term outlook for the city? We want to build upon our efforts and have Camden continue to trend in the right direction in terms of public safety, education and economic growth. Increasing local sourcing and promoting employment opportunities for our residents is crucial. In the near future, I want people to be able to say that Camden is back and excelling to new heights. As Mayor, I intend to bring unity through partnerships and take a team approach. This is all about team Camden. 6
| Invest: South Jersey 2021 | CAMDEN COUNTY
The Camden County Park System consists of 21 parks and over 4,000 acres of natural settings and open space.
( ) Pandemic response Buoyed by robust vaccination efforts, support for businesses has been an integral part of the county’s pandemic response. More than 3,000 county businesses have received grants totaling approximately $30 million since the onset of the pandemic thanks to CARES Act funding, with portions of the American Rescue Plan earmarked for business support as well, county leaders tolds Invest:. “We’ve done our best to keep businesses in business during the pandemic,” County Commission Director Louis Cappelli Jr. told Invest:. Additionally, the county has awarded approximately $3.2 million to municipalities, $28.7 million to its three major healthcare providers and $4 million to support centers, the county reported. Since the rollout of the vaccines, the county has placed a keen focus on making the jobs available to hard-to-reach populations. From door-to-door information campaigns to busing senior citizens to vaccination sites to even erecting pop-up sites in shopping malls and concerts, the county has not relaxed the pandemic response as the situation improves and businesses resume in-person operations. General economy Camden County was not immune to unprecedented changes to the socioeconomic landscape ushered in by COVID-19. More than a year into the pandemic, the local unemployment rate has largely stabilized as the
CAMDEN CONSTRUCTION COUNTY OVERVIEW
Kris Kolluri President & CEO Camden Community Partnership, Inc.
county recovers. While it may take well into 2022 to see pre-pandemic levels of employment, the county’s bond ratings are a telltale sign that the recovery is not a question of if but rather when. Cushioned by funding from the CARES and American Rescue Plan acts coupled with sound budgetary practices, the county’s outlook is stable, according to Moody’s 2021 rating report. In April, Moody’s Investor Service assigned a “Aa1” rating to Camden County’s General Obligation bonds, outperforming the state as a whole. That’s an upgrade from “Aa2,” highlighting the county’s ability to service its debt obligations. For comparison, in November 2020, Fitch Ratings assigned the state of New Jersey a rating of “A-” on its General Obligation bonds. “The ongoing pandemic has had only a modest impact on the county,” Moody’s wrote in its rating report. “While a number of revenue streams have been negatively impacted, the county has made budgetary adjustments to offset these losses. The stable outlook reflects our expectation that the county’s finances will remain strong despite the impact of the pandemic. The outlook also takes into account the county’s very large, diverse tax base and strong resident wealth,” the report said. Infrastructure and transportation A look across Camden County reveals the results of guided economic development efforts. With companies such as American Water, Subaru, NFI industries and( )
What is the Partnership’s role in Camden? The Camden Community Partnership has been around for 36 years. We started as a waterfront development corporation. One of the reasons why we recently changed our name is because the work we’ve done in the last decade has seen us move our focus from the waterfront into almost every neighborhood in Camden. We thought it was more representative of the work that we do. We say that we are a resident-first organization because everything that we advance — whether it’s the development of parks or infrastructure, updating infrastructure or creating new jobs through our Camden Works program — is all targeted at improving the social well-being and health of Camden residents. This has been our singular focus over the last decade. What have been some significant accomplishments for the partnership? If you look at our parks work, we’ve managed or have helped manage the development of over $110 million worth of parks, and we’re overseeing about $45 million worth of infrastructure work. We also just implemented an arts project called A New View. It’s a $1 million grant that the Partnership, Rutgers University – Camden and the city of Camden received from Bloomberg to highlight the issue of illegal dumping by using art as a way to change the perceptions of this city. Two hundred cities competed for this grant and we were one of the 12 that were chosen. During the pandemic, we shifted our focus completely to help with COVID-19 testing logistics in the city and partnered with other nonprofits to distribute food to those in need. One of the ways we look at our station and standing in the community is to make sure that we can always be nimble enough to adapt to changing environments and the changing needs of the community. That, I think, is one of our proudest achievements as an organization. Organizations this old — we’re 36 years old — often get structurally inflexible and what we try to do is maintain a sense of flexibility so we can pivot quickly. www.capitalanalyticsassociates.com
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CAMDEN COUNTY OVERVIEW
Vivian Coley Executive Officer to the Chief of Police – Camden County Police Department Transparency is one of the five pillars of unity policing. I’ve been tasked with not only running the youth initiative but also the training related to domestic violence, missing persons and any policy procedure questions. I’ve been tasked with educating our community to ensure they understand our policies and procedures. We have a new learning center that’s being developed right now. We also have a new website that was developed, which includes information on how to become a police officer, information about the recruitment of new officers and information for folks interested in taking a tour.
County Cornerstones: 1 East Camden Matrix facility Touted as a project to watch for in 2021, the East Camden Matrix facility is expected to be a key logistics and distribution facility with the potential to bring a few hundred jobs to East Camden in a concentrated effort to continue to revitalize the Admiral Wilson Corridor. Matrix Development, a Middlesex Countybased developer, is spearheading the vision for the $20 million project spanning approximately 30 acres. This will be the newest facility in a part of the county that has previously seen investments by companies such as ResinTech Inc. and Subaru Inc. The pandemic-driven rise of e-commerce and continued demand for last-mile distribution centers makes Camden County a strategic location for logistics and distribution centers. 2 Public Safety Beleaguered by high crime rates in the 2010s, Camden County has been keen on establishing an equitable, service-driven policing culture during a time that saw nationwide calls for police reform. As such, the Camden County Police Department finished 2020 with reductions in homicides, shootings and overall crime. There were more than 500 fewer crime victims in the city of Camden in 2020 compared to 2019 and approximately 1,700 fewer crime victims compared to 2014. Total crimes fell to under 3,000 in Camden for the first time in more than 50 years. Several department changes ushered in this decisive win for the county’s public safety efforts, namely a keen focus on community 8
| Invest: South Jersey 2021 | CAMDEN COUNTY
policing. De-escalation techniques, focus on verbal commands rather than excessive force, foot patrolling and checking in with local businesses have been some of the guiding tenets driving the policing culture in the county. Connecting with local youth using social media has also been a successful, innovative way to facilitate interaction. To date, the police department’s TikTok page has amassed more than 4 million views. Overall, the department has been praised nationwide for its handling of the George Floyd protests and its efforts to drive crime down to historic levels. 3 Education It is no secret that Camden County’s eds and meds sectors are pillars of the local economy. With a robust public education system and world-class higher education offerings, Camden County has many opportunities for families and students looking to further their education. Approximately 76,000 K-12 students attend one of the county’s 36 school districts, two non-operating school districts, one Educational Services Commission and 13 charter/renaissance schools. Higher education offerings are anchored by Camden County College, Strayer University, Rowan University and Rutgers University-Camden. Committed to providing the highest-level educational experience to all students, these three institutions are an integral part of the local community and key players in the different economic development strategies, especially related to healthcare and life sciences.
CAMDEN COUNTY INTERVIEW
Giving back Locating HQ in Camden County an ‘opportunity to give back to the community’
Sidney Brown CEO – NFI Industries Why is Camden the ideal location for NFI Industries’ HQ? When we moved here two years ago, there were a few things that attracted us. One was access to a greater labor force, both from South Jersey and from the Philadelphia metro area. As we grow, we need more talent. Sourcing that talent from a greater area made sense to us. We also saw this as an opportunity to give back to the community, to hire folks from Camden and create training opportunities. Being along the interstate highway system, the airports and the rail system is very convenient for our employees. The state of New Jersey also provided incentives, which made it attractive to develop here in Camden. How strong is the logistics market in the region? When the pandemic hit, people diverted their attention from experiences to tangible goods. People were spending money on fixing their homes, buying new appliances, and so forth. Goods were being purchased and, therefore, there was a huge spike in demand for tonnage being shipped. Ships were overloaded, there weren’t enough containers and the ports couldn’t handle the volume. The capacity crunch in terms of warehouse, trucking and marine capacity has caused rates to rise. This demand hasn’t slowed despite the pandemic beginning to recede, in part due to a very strong housing market but also due to the continued push for people ordering online. By ordering online, there is a change in the supply chain. Warehouses have become the new retail storefronts. This isn’t new but the pandemic accelerated this — and this trend toward online purchases isn’t going away. In fact, it’s a secular trend that is going to continue at a strong growth rate for the foreseeable future. Warehousing and transportation is what we do, so we are in a very good position and many of our competitors are also doing well. I have never been more optimistic than I am now about the future of what we do, the services we provide and the
outlook for our industry over the next three to five years. Specifically in Burlington County, we have a significant initiative that will add a tremendous amount of warehouse space and jobs, and help South Jersey continue to be a leader in distribution in the Northeast. In what ways is technology impacting the supply chain? Autonomous trucking and robotics in warehouses have been a huge topic of discussion. I believe that as more demand is created, technology will have some solutions in addressing labor shortages. The solutions may not be fully autonomous or fully robotic but there are some very interesting technologies that we have been experimenting with that will continue to evolve and affect the landscape. This is not a static industry and how we innovate is key to our success. www.capitalanalyticsassociates.com
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Market voices: Leadership perspective
Jeffrey Gottlieb CEO ResinTech Inc.
The future of Cramer Hill and the City of Camden is truly exciting. A new $70 million Cramer Hill Waterfront Park located on 62 acres with more than 3,000 feet of shoreline on the Delaware River is about to open. Downtown Camden is also building a new transportation hub, hopefully including a light rail stop. And most recently the city received a $35 million federal grant from HUD to rebuild the city’s oldest housing project, Ablett Village, located across the street from our facility and offer local residents modern, energy efficient, lower density housing, and for many a short walk to work at ResinTech. As the worst of COVID-19 passes, ResinTech is excited to actively participate in Camden and support these great transformations.
The services that we (Camden County) provide to our military community and their families are excellent. This is well known and recognized. For instance, when the Philadelphia VA Medical Center was vaccinating veterans and wanted to organize a mobile clinic outside of Philadelphia, we partnered to hold one in Camden County and vaccinated roughly 1,400 veterans. When asked why Camden County was selected, they said we had a well-established Office of Veterans Affairs, that we value our veterans and that we would support the logistics that were needed in organizing this clinic in Camden County. This is just one example of the reputation we have for honoring our veterans.
Jeffrey Nash
Commissioner, Parks Liaison Camden County
Commissioner , Veterans Affairs Liaison Camden County
Because Camden County is an older county, a lot of the infrastructure, including parks, had become dilapidated. Camden County has done a great job in providing maintenance and upgrades to those parks. Camden County is soon to announce Parks Alive 2025, a five-year strategic plan beginning in 2021 to renovate and revitalize all 23 parks in the county system. The plan will cost about $50 million, which is an extraordinary investment. However, much of it will be done in-house. We’ve received significant grants from both the state and federal government as well as nonprofits, such as the William Penn Foundation.
There are a few huge, transitional projects taking place in South Jersey. Specifically, the Ørsted offshore wind project is going to bring a new industry and many specialized jobs to the area. Establishing a clean energy industry and tackling the problem of climate change is a must, and there are all sorts of opportunities associated with reducing our carbon footprint. The solar industry is also taking the nation and region by storm right now and we’re seeing a transition to electric vehicles with all of the major manufacturers now producing them. All of these changes present opportunities.
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Melinda Kane
| Invest: South Jersey 2021 | CAMDEN COUNTY
Robert Weil
Chairman Camden County Regional Chamber of Commerce
CAMDEN CONSTRUCTION COUNTY OVERVIEW
( ) The Michaels Organization calling the county home, for example, a strong infrastructure is vital to continue to attract and retain economic growth in a post-COVID world. From parks to transportation projects, the county has a strong pipeline of ongoing infrastructure developments slated to reshape the local landscape. On the transportation front, ambitious projects such as the overhaul of the Walter Rand Transportation Center and the ongoing work on the Glassboro-Camden Line are set to catalyze transportation and mobility options in Camden County and South Jersey as a whole. As the county’s largest transportation hub, the Walter Rand Transportation Center (WRTC) serves as a vital convergence point for multiple transit systems in the region and it is the Delaware Valley’s gateway to New Jersey. In February, Gov. Phil Murphy announced a $250 million overhaul of WRTC. “We’re making a lot of investments across South Jersey. We are entirely redeveloping the Walter Rand Transportation Center in Camden, which is desperately needed and will reimagine transportation in the region,” Murphy told Invest:. With 26 bus lines, intermodal connectivity with the PATCO Speedline subway system and the River LINE Light rail, as well as supporting intercity independent bus services, the overhaul of WRTC will not only streamline intermodal connectivity in Camden County but also guide transit-oriented development in the burgeoning business and healthcare districts that immediately surround the transportation center. “We are especially excited for the redevelopment of the Walter Rand Transportation Center. This will be a game changer and will bring a world-class transportation center to Camden City while creating opportunities for both commercial and residential real estate,” Cappelli told Invest:. The project is still in the planning stage but NJ TRANSIT recently completed approximately $2.8 million in repairs that include work to its five-story parking deck and electrical, lighting and concrete patching needed to help facilitate future construction at the WRTC, according to the governor’s office. Just as visionary as the WRTC, the Glassboro-Camden Line, an 18-mile light-rail line proposal, is expected to leverage the infrastructure investments happening at the Walter Rand Center to expand regional transportation options through Camden County going as far south as the Glassboro township in Gloucester County. The GlassboroCamden Line project moved a step forward in February when the New Jersey Department of Environmental Protection reportedly finished its environmental impact study, a decisive measure in the feasibility of any ambitious infrastructure project. Now in the preliminary engineering design and project
Dana Redd Chief Executive Officer Rowan University/ Rutgers-Camden Board of Governors
What makes Camden great for businesses? Location, location, location. Camden has the thirdlargest and busiest transportation hub in the state of New Jersey, not to mention our eds and meds research institutions and assets, which have a global reach. We also have a very active port, as well as a diverse and highly skilled workforce. The partnership and collaboration opportunities presented to the city have really helped transform Camden. Camden is definitely a place to look at regarding investment and growing your business. What is the outlook for Camden’s eds and meds sector and what is the role for Rowan and Rutgers? I’m really excited about the future of the eds and meds sector in Camden. The Joint Board is engaged in an urban planning process for the third phase of the health sciences campus, which will be directly across from the Walter Rand Transportation Terminal. When we started this process earlier this year, it wasn’t too long after our launch that the governor came down and announced $250 million to revitalize the transportation terminal. The Joint Board, in collaboration with both universities and other anchor institution partners, is really envisioning what this next phase could potentially look like contextually and in relationship to the development at the WRTC. I also want to emphasize the importance of community engagement since any visioning process that happens in Camden really embraces responsible redevelopment. We plan from the bottom up, meaning we include the voices and ideas of our residents. We involve them at the front end of the process. In terms of the outlook for both Rowan and Rutgers, I’m certain that the leadership will position their universities to be competitive in this region, making sure that we are attracting students to both campuses and to the Southern New Jersey region. I believe that not only will they play a significant role in expanding Camden’s research footprint but they will also play a role in preparing the workforce to respond to the growing demand for healthcare professionals. www.capitalanalyticsassociates.com
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Kevin O’Dowd Co-CEO Cooper University Health Care
What is the state of the healthcare market in South Jersey? The state of healthcare in South Jersey is very strong, which we believe is an outcome of the close collaboration among the southern New Jersey health systems during the pandemic. The South Jersey healthcare market continues to be one of the most competitive in the region. Our goal is to ensure that Cooper continues to distinguish itself as the leading academic health system in the region with nationally and internationally recognized doctors, advanced care and a spectrum of programs and services to meet the complex needs of the community. How is Cooper helping to make healthcare more affordable? There are a number of complex historical and structural issues that cause healthcare costs to continue to rise. With national healthcare expenditures estimated to reach $6.2 trillion by 2028, there continues to be a priority focus on providing healthcare services that are both fiscally responsible and provide high levels of quality, effectiveness and equity. We believe individuals should be focused on staying well rather than how they will be able to afford healthcare if they get sick. That is why we are honored that Cooper is represented on Gov. Murphy’s Health Care Affordability Advisory Group to combat the unsustainable rate of growth of healthcare costs in the state. Everyone is concerned about healthcare costs because even those fortunate enough to have health coverage through their employment continue to see a significant and growing percentage of their paychecks going to pay for healthcare premiums and deductibles even before they access any healthcare services. For Cooper, our strategy is to remain the lowest cost academic tertiary care health system in the region. That means keeping a close eye on expenses and seeking innovative ways to make care affordable. 12
| Invest: South Jersey 2021 | CAMDEN COUNTY
management phase, the South Jersey Transportation Authority has already committed $200 million toward the next phase of the project. With a vision that includes creating 14 new train stations, while increasing connectivity with PATCO lines and other mobility options, the Glassboro-Camden Line is a hat trick infrastructure, sustainability and economic development victory not only for Camden County but for the Garden State overall while also serving as a vehicle for cementing affordability in the local market as it continues to grow. Equally as important to the region’s economic recovery is the Port of Camden. Situated on the eastern bank of the Delaware River between Camden and Gloucester counties, the port is one of the busiest on the East Coast, bringing commodities such as Cocoa Beans, plywood and fruit from around the world. The port has been instrumental in keeping several industries afloat in the face of the pandemic. Overall cargo operations were up through the first half of 2021 and the port is projected to surpass 2019 overall cargo levels by year’s end, South Jersey Port Corporation Executive Director and CEO Andrew Saporito told Invest:. “Steel is up 50%, plywood is up 47% and cocoa is up 75%. But while cargo is surging to pre-pandemic levels, demand for products like slag, which is used in cement mixing, is recovering at a slower rate because many of the big construction projects were either delayed or stopped during the pandemic. Those are picking up again with all the money expected to come in from President Biden’s new infrastructure initiatives. This year, we expect to surpass the overall cargo levels we saw in 2019,” Saporito said. As it relates to quality of life improvements via infrastructure, the county and its municipalities are keen on delivering on the 10-Minute Walk promise of ensuring residents have access to high-quality open spaces within a 10-minute walk of their homes by 2050. An effort that began in 2018 based on a national movement, the city of Camden, with support of the county and local stakeholders, unveiled its first ever Parks and Open Space Plan in December 2020. With objectives that range from the creation of safe recreational spaces, expansion and maintenance of park amenities with a keen focus on community programs, Camden anticipates approximately $25 million on investments earmarked for its park system over the next five years. Residential Camden County’s commitments to infrastructure improvements bode well for its residential and commercial real estate growth in a post-COVID future. On the residential front, Camden County offers levels of
CAMDEN CONSTRUCTION COUNTY OVERVIEW
affordability to homebuyers of varying needs coupled with a litany of municipalities suitable for a thriving family dynamic. Though not immune to rising costs of properties and construction, largely buoyed by low interest rates, an active housing market, low supply figures and supply-chain disruptions, Camden County’s affordability factor has remained resilient in the face of the real estate frenzy sweeping the nation. Considered a suburb of Philadelphia, the Camden County median single-family sales price stands at approximately $267,000 as of May 2021. That is a 27.5% increase yearover-year with a supply of inventory whittled to an average of 1.1 months, according to New Jersey Realtors®. In a sweeping effort to improve the local housing stock, several residential redevelopment projects are happening across the county to renovate and improve neighborhoods that previously were considered a public safety concern. Leveraging federal and state dollars in the process, and armed with a $15 million state grant, the city of Camden took the lead on this front in July by knocking down approximately 300 homes to make way for new homes or open spaces. “We have some strong CDCs and nonprofit developers in Camden, and we want to help build their capacity so they can create affordable housing options within our neighborhoods,” Carstarphen told Invest:. Razing blighted properties goes hand-in-hand with the city’s public safety improvements in an effort to turn the page on its past. In 2021, the city of Camden experienced its lowest crime rate in 50 years. Similarly, the county announced a $35 million investment to transform the Ablett Village community in Cramer Hill, one of the county’s first public housing projects. Using Housing and Urban Development funding, the city of Camden, its housing authority and developer The Michaels Organization, envision approximately 425 new affordable homes and apartments, community amenities and attractive green spaces. Eds and meds Guided investments in Camden County’s growing eds and meds corridors complement the county’s efforts to revitalize local neighborhoods. The Delaware Valley’s robust healthcare, life sciences and education sectors have historically been concentrated across the river in the city of Philadelphia, much to the benefit of the entire MSA. Notwithstanding, institutions such as Cooper University Health Care, Rutgers University-Camden and Lourdes Health System acquired by Virtua in 2019, have served the Camden and South Jersey communities for decades and are the cornerstones of the ongoing renaissance happening in the county.
Anthony Mazzarelli Co-CEO Cooper University Health Care
How is technology revolutionizing healthcare? As an academic health system and teaching hospital, Cooper is committed to providing the most technologically advanced care and developing and adopting innovative technologies to make care delivery more efficient, improve safety, improve patient experience and outcomes, and reduce costs. One example of this was the launch of The Nuance DAX system. Cooper was one of the first health systems in the nation to introduce Nuance DAX, which revolutionizes the physician-patient experience by securely capturing and contextualizing physician-patient conversations. By populating the patient’s electronic medical record through this new AI technology, our physicians spend less time at their computer screens during visits to focus more attention where it’s needed: on their patients. What legislation could impact the sector? President Biden signed an Executive Order promoting cost transparency and competition in different sectors of the American economy. The Executive Order makes several recommendations related to prescription drugs, hospitals and health insurance among others. One significant provision urges greater oversight over hospital mergers to ensure patients are not harmed. The Executive Order also reiterates the Administration’s support for implementing a public health insurance option. All of these recommendations could have a significant impact on health systems. What is your near-term outlook for South Jersey’s healthcare sector? Healthcare will continue to see dynamic change on a number of fronts from governmental policy changes to medical technologies to increased consumerism. The pandemic will continue to affect public health for the foreseeable future as there remain many unknowns related to COVID-19. There will be much more attention paid to strengthening our state’s health care system to be prepared for any new health care crises. www.capitalanalyticsassociates.com
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CAMDEN COUNTY OVERVIEW
Over the last decade, the city of Camden has experienced an infusion of millions of redevelopment dollars that has revitalized Downtown Camden with promising momentum-building slated to benefit the overall county and South Jersey region. Created by the New Jersey Medical and Health Sciences Education Restructuring Act of 2012, the The Rowan University / Rutgers – Camden Board of Governors (RURCBOG) is tasked with guiding development and leveraging the educational and research assets to support growth across the region. Opened in 2019, the Joint Health Sciences Center is the latest Camden-based eds and meds project to come onboard during a decade that saw hundreds of millions of guided investments on this front and the centerpiece of the Health Science Campus project. The $70 million center houses lab and training spaces for multiple universities and is a convergence point sustaining the operations of different universities, a community college and two medical schools. The center marks the completion of Phase I of RURCBOG’s long-term vision for the redevelopment of the Health Science Campus. Located adjacent to the Walter Rand Transportation Center, Joint Health Sciences Center exemplifies the fashion in which the eds and meds sector is driving investments in the county. In 2020, the board issued a request-for-proposal for the campus’ roughly $65 million Collaborative Life Sciences Center. As part of Phase III, the new life science center will feature a health sciences library, and collaborative classroom and lab spaces for students across the partner educational institutions affiliated with the Health Science Campus project. “The Health Sciences Campus Plan also will uplift Camden, attract businesses to South Jersey and provide attractive college placement and workforce
opportunities for residents, including the creation of employment and business opportunities for lowincome residents,” the board wrote on its request-forproposal documents. Looking ahead Featuring a strong investment rating, attractive affordability factors, access to key metros along the Delaware Valley and the Northeast, Camden County has all the facets characteristic of a successful, growing region. As it prepares to emerge from the COVID landscape, Camden County is ready to capitalize on decadeslong efforts to diversify its tax base, attract and develop industries, and update its local infrastructure to meet the needs of a growing population. The eds and meds sector is expected to anchor the county’s economic development strategies moving forward. Commercial and residential redevelopment efforts afoot position the county as one of the most attractive metros to live, work and play along the Delaware Valley. These guided redevelopment efforts coupled with a strong push to improve the region’s public safety strategies are quickly eradicating negative perceptions about the Camden market while cementing its status as the market to watch in the Garden State.
Capital Analytics would like to thank Camden County for its contributions in compiling this chapter. To learn more, visit their website at: www.camdencounty.com