UTILITIES EXECUTIVES REPORTED ON CAPITAL INVESTMENT PLANS
Executives of major utility companies in New Jersey reported that their firms expect to invest billions of dollars on capital infrastructure projects.

The reports came during a statewide conference in Trenton hosted by the New Jersey Alliance for Action in cooperation with the New Jersey Utilities Association. A capacity crowd of over 200 attended the conference.

Richard Mroz, moderator of the program, said the “utility industry is a major driver of New Jersey’s economy.”
These were among the highlights:
Dennis Bone, President of Verizon New Jersey, estimated that Verizon has spent $1 billion in telecommunications investments. He said Verizon expects to spend $500 million a year to install the company’s fiber optic network, which reached 1 million homes in October.

Rodney Dickens, Vice President, Asset Management & Centralized Services for Public Service Electric & Gas Co., told the audience that PSE&G already has invested over $5.7 billion on capital projects over the last five years.

Bill Gausman, Vice President, Asset Management, PHI/Atlantic City Electric, said his firm has invested over $4 billion on infrastructure over five years.

ALLIANCE TESTIFIES FOR PORT AUTHORITY CAPITAL PLAN
The Alliance for Action expressed strong support for the plan by the Port Authority of New York and New Jersey to raise tolls and fares to fund needed highway and transit capital projects.

In testimony at a public hearing in Newark, Alliance Senior Vice President Clifford J. Heath said: “No element of infrastructure is more vital to our state’s future and economic growth than transportation. Without efficient, effective and balanced systems of roads, bridges and transit, New Jersey’s economy will decline and our state will not be able to compete in the new worldwide marketplace. The mobility of our residents to work, enjoy family life and educate our children will suffer.”

The last hearing is scheduled for Tuesday, December 18, 2007 at the Marriott Teaneck at Glenpointe, 100 Frank W. Burr Blvd., Teaneck, NJ 07666. Alliance for Action members and friends are encouraged to submit online statements of support Here .

CAMDEN DEVELOPS NEW SALVATION ARMY CENTER
The New Jersey Department of Environmental Protection will spend nearly $14 million to investigate and remediate large portions of an 85-acre landfill in the Cramer Hill section of Camden that has been out of operation for 35 years. The money will come from the DEP’s Hazardous Discharge Site Remediation Fund and its Publicly Funded Remediation Program.

The estate of philanthropist Joan Kroc, wife of McDonald’s founder, Ray Kroc, has given the Camden Corps of the Salvation Army a $54 million grant to build and run a community center at the Northernmost end of the landfill site along the Delaware River.

SUMMIT ASSOCIATES TO DEVELOP INDUSTRIAL SITE IN NEWARK
Summit Associates, Inc. has acquired a 42-acre undeveloped tract formerly owned by Coca Cola Enterprises at 429 Delancy Street in Newark.

With groundbreaking scheduled for 2008, Summit plans to develop up to 810,000 square feet of rail-served industrial space for either a single use or multiple tenants. Financing was provided for acquisition by an investment client of BlackRock.

SITE WORK BEGINS FOR HOBOKEN OFFICE TOWER
SJP Prosperities has begun site work on the final headquarters-quality office tower at Waterfront Corporate Center in Hoboken.

Waterfront Corporate Center III will be a 550,000 square foot Class A office tower.

NJM BEGINS CONSTRUCTION PROJECTS IN HAMMONTON
New Jersey Manufacturers Insurance Company of West Trenton has announced plans to construct a 142,000-square-foot building on 56 acres of undeveloped land at the Hammonton Street Industrial Park fronting Route 54.

Construction is planned to begin in 2008, with expected completion and occupancy in late 2010. It is the initial phase of NJM’s new Hammonton campus.

WHITMAN COMPANIES ACQUIRES CONSULTING ENGINEERING FIRM
The Whitman Companies, Inc., based in East Brunswick, has acquired Brownworth Engineering Associates, a consulting mechanical and electrical engineering firm located in Piscataway.

TECHNOLOGY GRANTS AWARDED BY STATE COMMISSION
A total of $2.5 million in grants has been issued by the State Commission on Science and Technology to five promising technology companies. They are:
Aestus Therapeutics of North Brunswick, Li Creative Technologies of Florham Park, NJ Microsystems of Newark, Treadstone Technologies of Camden, and TRI Medicine of Piscataway.

PEOPLE ON THE MOVE
- Michael Pappas former Somerset County Freeholder, has been appointed Regional Administrator for the US Small Business Administration’s Region II, which includes New York State, New Jersey, Puerto Rico and the U.S. Virgin Islands.

-Three new members have been elected to the Board of Trustees of The Foundation of the New Jersey Alliance for Action. They are Dennis Bone, President-Verizon New Jersey; Edward J. Graham, Chairman, President and CEO of South Jersey Industries, and John L. Clearwater, P.E., Managing Director of the Construction Industry Advancement Program of New Jersey (CIAP).

-Tina Lado has joined the Port Authority of New York and New Jersey as Director of Government & Community Relations.

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