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Cumberland County Economic Development

The Cumberland County Economic Development Bankers and Brokers Roundtable, held on May 9, 2014, emphasized the importance of intentional and strategic partnerships to drive economic prosperity. Key initiatives discussed included public investment in a full-time technical high school, urban redevelopment projects in Bridgeton, and advancements in alternative energy. The roundtable highlighted economic impacts with new incomes projected to exceed $36 million and total economic impact over $233 million, showcasing the region's commitment to sustainable growth through innovative collaborations in education, energy, and infrastructure.

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Cumberland County Economic Development

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  1. Cumberland County Economic Development Bankers and Brokers Roundtable May 9, 2014

  2. LEADERSHIP- “IT’S A NEW DAY!” • INTENTIONAL • STRATEGIC • IMPLENTATION • PARTNERSHIPS

  3. Marrying Economic Development, Education and Public Investment together to generate PROSPERITY in Cumberland County.

  4. Public Investment • CWED Building • Full-Time Technical High School • Bridgeton Downtown Project • Delsea Drive Acquistion • College Arts and Business Innovation Center • Alternative Energy/Power Plant

  5. VIEW LOOKING SOUTH FROM INTERSECTION OF HIGH AND VINE STREETS Millville Urban Redevelopment Corporation

  6. Alternative Energy Strategies • Energy Efficiency / Lighting • LED Light Replacement can save ~$31k annually • Total Cost at ~$137k after $30k of incentives • 4 Year Simple Payback • Next Steps – Secure new lights via bid and install • Renewable Energy • Enough space on site and rear property for 26.3 MW • Entire site could be on solar power and would have excess for other uses • Grid is overloaded and improvements are needed. • Exploring next steps with moving LG power supply to 69kv line • Goal is to make room for future solar and allow for more development in the region including landfill expansion • Compressed Natural Gas • There is regional interest in a new station for all potential users • Could be on site or adjacent • Construction Cost range is $2M to $5M (dependent on size) (most likely in the $3-$3.5M) • Would prefer a public / private partnership approach • Need gas run to site which would help LG station and conversion to gas boilers / generators • Next step is finalize report and decide on next steps, i.e. RFP for a developer / P3

  7. ECONOMIC COMPONENTVALUE OF IMPACT DIRECT CONSTRUCTION $96,591,529 Technical High School $69,830,529 Center for Workforce & Economic Development $8,485,000 Arts & Business Innovation Center $7,695,000 Bridgeton Downtown (Library) Facility $10,581,000 NEW, DIRECT INCOMES $36,628,730 Construction Incomes from 963 new jobs $36,180,0101 New incomes for teachers at Technical HS $448,7202 INDIRECT AND INDUCED IMPACTS $99,915,1943 TOTAL ECONOMIC IMPACT $233,135,453

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