CONSTRUCTION ECONOMY OVERVIEW
Gerard Velazquez President & CEO Cumberland County Improvement Authority
What differentiates Cumberland County from other areas in South Jersey? Quality of life in Cumberland County is really one of its greatest assets. The ability to make it to an urban metropolitan area in less than an hour really gives us a unique opportunity to grow the county. It’s a hidden gem. From a travel and quality of life perspective it provides everything anyone could want.
seats, unchanged on the previous census. The state ranked as one of the Top 10 runners-up to almost gain a new congressional seat due to its increasing population, which grew by 5.7% since the 2010 census. This rate was higher than neighboring Pennsylvania and New York and the bureau had underestimated the state’s population by about 400,000 people. Of the total population, more than 1.8 million, or just over 19%, are located in the state’s seven southern counties, the largest of which is Camden by population and Burlington by area. Data on demographic breakdowns from the most recent census will be released by September, officials said. As of 2019 estimates, New Jersey’s population is 72% white, 15% Black or African American and 10% Asian. About 21% of the population characterized themselves as fully or partially Hispanic or Latino. This breakdown is relatively unchanged but the Hispanic population has increased over the previous five-year period. About 32% of New Jersey residents are now speakers of nonEnglish languages, which outstrips the national average of 21.9%. The most commonly spoken language behind English is Spanish. Although New Jersey is one of the smallest in the
What significant developments are in the pipeline? The Improvement Authority is the economic development arm of the county. We started in 2013 with 39 landfill employees and we hadn’t completed any redevelopment or economic development activities. My role when I came here was to transform the authority from a landfill operator to a redevelopment authority. Now, we have about $650 million in projects and 100 employees. Our mission has been trying to get people to understand that the success of the county depends on the success of the municipalities within the county. Over the last year, we finalized our 2020-2030 master plan and have utilized that strategy to drive development. Eds and meds are a cornerstone of this, given the presence of Rowan College SJ, Rowan University and the Inspira Health system. We want to take the corridor that used to stop in Glassboro down to our location. We want to further diversify the economy so that we are not dependent on one specific sector. We are focused on technology and we have a data center that will soon be located in the county. We are building on the executive airport to facilitate services for private jet maintenance. We want to bring workforce opportunities to the county that do not currently exist. What business incentives does the county offer? We have all the same incentives on the state level as our neighboring counties. The added advantage we have here is cost, including land, labor and construction. All the inputs into operating a business are less expensive here than in other parts of the state. www.capitalanalyticsassociates.com
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