Cumberland County Economic Development

Bankers and Brokers RoundtableMay 9, 2014

LEADERSHIP- “IT’S A NEW DAY!”

•INTENTIONAL▫STRATEGIC

▫IMPLENTATION◦PARTNERSHIPS

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

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

VIEW LOOKING SOUTH FROM INTERSECTION OF HIGH AND VINE STREETS

Millville Urban

Redevelopment

Corporation

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

• ECONOMIC COMPONENT VALUE 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