By Bill Bowman/Asbury Park Press
December 5, 2011

More than twice the number of jobs originally expected could be created during the next five years by a nonprofit organization formed to replace the high-technology positions that left Monmouth County when Fort Monmouth closed earlier this fall.

About 19 of the so-called “team members” of the New Jersey Technology Solutions Center estimate they could create about 800 new jobs and pump millions of dollars into the local economy by 2017, said John Riganati, the center’s co-president.

Overall, those team members estimate they will create about 1,000 jobs in that time period, he said.

The team is working on projects that could result in contracts worth at least $2 million each — and in some cases quite a bit more than that, Riganati said.

The center was originally projected to create between 200 and 300 new positions when it was launched late last year, following receipt of a $2.9 million earmark from the Department of Defense and a $500,000 grant from the state Department of Labor and Workforce Development.

The center gave 19 entities sub-grants of between $50,000 and $150,000, each of which was used to further development of current projects, he said.

The money helped the center’s partners “do some work that reduces the conjecture (of a project) or probes a principle, then enables the entity, with its own money, to write a proposal,” he said.

The center’s future was cast in doubt earlier this year when earmarks were discontinued by Congress. Center representatives said then that other means of funding were always anticipated, and were being actively sought.

Under the terms of the DOD earmark, work on those sub-grant projects was supposed to be completed by February. But only two of the projects have been completed, so the center asked for and received an extension from the Office of the Secretary of Defense to the end of July, Riganati said.

Riganati said that all proposals will be submitted through the center, and the center will receive a processing fee of between 4 percent and 5 percent from any award given.

The money collected from those processing fees will then be used to fund more projects, he said.

The new jobs expected to be created when projects receive contracts fall in a number of areas, including engineering, software development, management and business development, Riganati said.

The center was seen as a way to mitigate the loss of more than 5,000 high-technology — and high-paying — jobs when Fort Monmouth closed in September and the bulk of its missions transferred to Aberdeen Proving Ground, Md. The fort’s closure was mandated in the federal 2005 Base Realignment and Closure round.

The center’s creators hope that it will compete for lucrative contracts in four key areas: command, control, communications, computers, intelligence, surveillance and reconnaissance — of C4ISR, the key mission of the former Fort Monmouth — renewable and alternative energy; homeland defense and security, and cyber- and electronic-warfare and security.

More than four dozen private companies and educational institutions — such as Brookdale Community College in Lincroft and Monmouth University in West Long Branch — have partnered with the center.

By Melinda Caliendo/NJBIZ
December 2, 2011

With manufacturing plants in New Jersey, Wisconsin and Arkansas, RathGibson announced it is moving some of its headquarters operations from Lincolnshire, Ill., to the North Branch section of Branchburg.

By Sergio Bichao/Home News Tribune
December 1, 2011

The head of the state’s so-called “bank for business” called on Somerset County business leaders to become cheerleaders for New Jersey in an effort to attract new businesses.

Caren S. Franzini, the CEO of the state Economic Development Authority, made her remarks at the annual meeting of the Somerset County Business Partnership, the chamber of commerce for one of the state’s wealthiest counties.

“We have a positive message to sell,” Franzini said. “I ask all of you to be our cheerleaders and talk to your other business colleagues as you travel, go to parties, wherever you are, sell our state, sell New Jersey.”

With state unemployment still hovering above 9 percent, county business leaders seemed optimistic about the state’s economic climate.

The annual meeting drew a record attendance for the business advocacy nonprofit. More than 400 representatives from municipal and state government, pharmaceutical giants and mom-and-pop shops ate herb-roasted chicken, asparagus, mashed potatoes, wine, cocktails and cheesecake at the Bridgewater Marriott luncheon.

Franzini touted the administration of Gov. Chris Christie and Lt. Gov. Kim Guadagno for taking a hard line against taxes and regulations and wooing new businesses to the state.

“One of the first things the governor did was have the lieutenant governor lead a red-tape review commission,” she said. “We need to have the beautiful beaches, we need to have a great environment, but we need common sense regulations to ensure that occurs.”

The Business Partnership in 2010 launched an Affordability Campaign that closely follows Christie’s agenda: reforming the state tax structure to retain businesses and residents, the public employee pension system and the public sector bargaining system.

The EDA, which Franzini has led since 1994, has also attracted and retained businesses by offering taxpayer money as incentives.

Last year the EDA provided more than $567 million in financing and tax credits, which state officials said supported more than $1.4 billion in investments and creation of 5,200 new jobs in the state.

In Somerset County, some of those recipients include the borough of Somerville, which was awarded a $5 million Economic Redevelopment and Growth grant to repay a loan the municipality offered to Saker ShopRites to open its much-anticipated supermarket.

The multinational Archimedes Pharma opened its first U.S. facility in Bedminster last year, creating an estimated 75 new jobs, thanks to a 10-year $2.1 million Business Employment Incentive Program grant from the EDA.

A $583,000 Economic Redevelopment and Growth grant also helped convince Roka Bioscience to relocate from San Diego to Warren, creating an estimated 20 jobs.

Such publicly funded incentives are not without critics. Earlier this year the liberal New Jersey Policy Perspective think tank showed that an $80 million grant to Goya Foods in Secaucus would create just nine new jobs, despite an EDA estimate of 175 new positions. Most of those jobs were transferred or relocated from other cities or contractors, according to EDA documents obtained by NJPP.

The Business Partnership, meanwhile, is behind a $162,000 study of business growth in the county.

“We will build on the success of our Affordability Campaign and advocate for outcomes that we can all measure, investment in infrastructure, new job creation and a better business climate,” Business Partnership President Michael Kerwin said. “Our goal is nothing less than to make Somerset County the best place in New Jersey to be in businesses.”

The luncheon also honored Ortho Clinical Diagnostics of Raritan Borough, Voltaix of Branchburg, Bridgewater Overhead Door of Raritan Borough , and young entrepreneur Ryan Lucht as 2011 Economic Vitality Award recipients.

By Melinda Caliendo/NJBIZ
November 29, 2011

The New Jersey Small Business Development Centers announced Tuesday a collaboration with the state’s Business Action Center, in which the NJSBDC will be able to tap both federal and state funding to meet goals of business creation and retention.

By Mary Ann Bourbeau/NJBIZ
November 29, 2011

Three New Jersey charitable organizations were among 25 chosen by the TD Charitable Foundation in its sixth annual Housing for Everyone grant competition.

Each organization will receive $100,000 in grants from the foundation — the charitable giving arm of Cherry Hill-based TD Bank — to support affordable-housing initiatives, including new unit creation, energy efficiency and capacity building projects.


The competition invited nonprofits from Maine to Florida to submit proposals outlining their affordable-housing initiatives. New Jersey winners were Habitat for Humanity of Bergen County, Jersey City Episcopal Community Development Corp. and Volunteers of America Delaware Valley Inc.


“Access to affordable, energy-efficient, safe housing is a significant need for millions of families, and these grants will help expand the availability of such housing in several neighborhoods in need,” said Elizabeth K. Warn, president of the TD Charitable Foundation and senior vice president of community development for TD Bank, in a news announcement.


The TD Charitable Foundation serves the individuals, families and businesses in the communities where TD Bank operates. The foundation has made $82.9 million in charitable donations since its inception in 2002. In addition to affordable housing, the TD Charitable Foundation focuses on education, financial literacy and the environment.

Residential Real Estate Leader to Relocate to an Environmentally Efficient Facility in Madison, New Jersey, by Early 2013 

MADISON, NJ–(Marketwire – Nov 28, 2011) – Realogy Corporation, a leading provider of real estate and relocation services, today announced its plans to move its corporate headquarters to a new facility currently under development at 175 Park Avenue in Madison, N.J. The move is expected to occur during late 2012 or early 2013. The new location is less than seven miles away from Realogy’s current headquarters in Parsippany. 

“We are pleased to make this long-term commitment to stay in New Jersey, and we thank Gov. Christie, Lt. Gov. Guadagno and their administration for accommodating our long-term needs,” said Richard A. Smith, president and CEO of Realogy. “Madison is going to be a terrific headquarters location for us, and 175 Park Avenue is very near to the geographic epicenter of our employee population. Most important, on an annual basis the base rent for the new facility will cost us about 25% less than our current facility, and the new headquarters will better serve our short- and long-term facility needs.” 

The new facility will house all current Realogy corporate headquarters location employees, including the Realogy Franchise Group and its leading franchise brands — Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA® and Sotheby’s International Realty® — along with the home office of Realogy’s brokerage subsidiary, NRT, as well as NRT’s Eastern Seaboard Support Center and its local brokerage, Coldwell Banker Residential Brokerage in New Jersey and Rockland County, N.Y. 

Recently ranked No. 2 on the NJBIZ Top 100 List of Private Employers in New Jersey, Realogy had considered several other relocation options, including out of state. Smith said that business incentives from the New Jersey Economic Development Authority, along with the New Jersey Business Action Center’s efforts, were a significant factor in Realogy’s decision to remain in state. 

“Since taking office, retaining and attracting top-quality businesses to the state of New Jersey has been a key part of our administration’s pro-growth agenda,” said Lt. Gov. Kim Guadagno, who oversees economic development efforts for the Christie Administration. “We are pleased that Realogy has made a commitment to keep more than 950 jobs at its new headquarters and other locations throughout the State. This sends a strong message that the New Jersey comeback has begun.” 

Realogy, which signed a 17-year lease, will be the sole tenant at 175 Park Avenue. The existing structure on the 15-acre site is currently being transformed into a 270,000 square foot state-of-the-art facility by The Hampshire Companies of Morristown, N.J. 

The 175 Park Avenue facility will be LEED Silver Certified by the U.S. Green Building Council. The LEED (Leadership in Energy and Environmental Design) designation is an internationally recognized green building certification system providing third-party verification that a building was designed and built to minimize environmental impact. Realogy’s new headquarters will incorporate cutting-edge, green roof technology and state-of-the-art mechanical systems. The new Realogy headquarters building is centrally located in Morris County near the intersections of Interstate 287 and Routes 24 and 124, and approximately one mile from the NJ Transit train station in Madison. 

Realogy was represented in this transaction by Global Client Solutions LLC, a Realogy subsidiary that leverages the Company’s worldwide commercial resources to achieve client goals through a broad range of corporate real estate services.

About Realogy Corporation
Realogy Corporation, a global provider of real estate and relocation services, has a diversified business model that includes real estate franchising, brokerage, relocation and title services. Realogy’s brands and business units include Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby’s International Realty®, NRT LLC, Cartus and Title Resource Group. Collectively, Realogy’s franchise system members operate approximately 14,300 offices with 253,000 sales associates doing business in 100 countries and territories around the world. Realogy is owned by affiliates of Apollo Management, L.P., a subsidiary of Apollo Global Management, LLC, a leading global alternative asset manager.

By Kevin Post/Atlantic City Press
November 26, 2011

Business owners think New Jersey still has a long way to go before it’s a good state in which to do business, but they were much more positive about the Garden State and its governor in the 2012 Business Outlook Survey by the N.J. Business & Industry Association. 

The percentage of member companies saying New Jersey is a good place for new or expanded business facilities doubled to 18 percent in this year’s survey, released the past week. Twenty-eight percent said it’s still a poor place to do business. 

Companies gave much of the credit for the improvement to Republican Gov. Chris Christie, with 74 percent saying he’s doing a good-to-excellent job for the second straight year, a degree of approval unseen in two decades. 

Strong majorities of respondents said New Jersey is improving compared to others states on promoting economic development, attitude toward business, controlling government spending,  attracting new business and controlling energy costs. 

The three “most troublesome” areas for New Jersey businesses are health insurance costs, property taxes and the overall cost of doing business in the state, which have led this part of the survey for many years. They were followed in the problem rankings by regulations, state taxes, frivolous lawsuits and labor costs. 

The 1,568 companies participating in the survey had generally more upbeat outlooks for themselves and the state than they did for the nation — not surprising since the survey was given in September following the U.S. credit rating downgrade and the politically fraught increase in the U.S. debt ceiling. 

Only 14 percent of companies expect a better U.S. economy in the first six months of 2012, down from the 23 percent who were optimistic at this time last year. Those expecting worse jumped to 43 percent from 33 percent. 

Nearly half of companies expect New Jersey’s economy to be about the same, with slight decreases in those who think it will get worse or better.

Companies were much more upbeat about their own prospects, with 42 percent saying they expected sales to increase versus 24 percent who think sales will decline in the year ahead. 

That positive view doesn’t carry over into the job market, however.  

Slightly fewer companies this year, 15 percent, said they expect to increase employment in the year ahead, but at least slightly fewer said they expected to cut jobs too. 

“There is some improvement, but many businesses continue to struggle, and they are understandably reluctant to hire,” Philip Kirschner, president of NJBIA, said in a statement. 

One bright spot for private sector workers is that nearly half of companies expect to be giving pay increases in 2012, while just 4 percent think they’ll be cutting pay — both improvements over the prior year’s survey…

By David P. Willis/Asbury Park Press
November 28, 2011

While people poured through the automatic doors of big stores like Target and Best Buy on Black Friday, the start of a holiday shopping weekend, others rang the registers of small businesses around the Jersey Shore.

“It was fantastic,” said Mercedes Wall, co-owner of Carter & Cavero, a Red Bank store that sells olive oil. “It was absolutely wonderful. We had amazing sales, so people came out.”

On Sunday, the National Retail Federation said shoppers flocked to stores, spending on average $398.62, up from $365.34 last year. An estimated $52.4 billion was spent in stores and online over the shopping weekend, which started late Thanksgiving night, the earliest start for Black Friday shopping.

The survey did not break out how much of that business went to mom-and-pop stores. But small businesses are an important part of the holiday shopping season.

“Small retailers are the backbone of this country, serving millions of people everyday with their unique offerings,’’ said Kathy Grannis, a spokeswoman for the National Retail Federation.

In an informal survey of several businesses, store owners said they were helped by a national push to promote shopping at local stores, called Small Business Saturday, an effort backed by American Express.

“Friday was probably one of the busiest Black Fridays we have had in a decade,” said Alan Fisher, owner of A.H. Fisher Diamonds in Red Bank. Saturday brought sales as well.

Fisher participated in Small Business Saturday last year, but this year’s numbers surpassed 2010, he said. “Usually we get lookers. This year we had lookers and buyers,” he said.

Scott Hamm, co-owner of Shelter Home in Asbury Park, saw an uptick in sales. “Both Black Friday and Small Business Saturday we did great,” Hamm said. “Small Business Saturday was our best single day in about six months.”

People were waiting for the weekend to shop for the holidays. “People are wanting to support their local businesses,” Hamm said. “I saw a lot of people in Asbury shopping that I haven’t seen since the summer. It was great.”

The business was welcome after the store took a hit following the wet weather in August, including Hurricane Irene, he said. “It was a big relief. … We needed a good day like that,” Hamm said.

Business owners pointed to the popularity of the shop-local movement.

“People really enjoy that personal shopping experience,” said Sheena MacClaren, co-owner of Plethora Boutique in Point Pleasant. “I think it creates a special unique environment.”

For some shoppers, the choice to “shop local” stood out this year, said Sharon Murphy, co-owner of Idiosyncrazies in Point Pleasant Beach.

“We had a few people that came in and just said they were tired of all the advertising, some stores opening at 10 p.m. on Thanksgiving night,” Murphy said. “People were just tired of the big box stores. They know that if they shop locally, they are kind of helping their own little communities.”

Shoppers were rooting for small businesses, said Wall, of Carter & Cavero, which has locations in Red Bank, Long Branch, Summit and Princeton.

“They really came out for us,” she said.

There also was an extra push to offer deals as well, Wall said. “People were looking for that when they were looking at small businesses,” she said. They say, “ ‘Great, you’re a small business, but what are you offering?’ So we made sure we put out deals out there that really caught people’s attention and it was well worth it.”

Sales were up over last year, she added.

The warm weather also helped bring people downtown and into shops. Over the past four days, temperatures have been 15 to 20 degrees above average, said state Climatologist David Robinson. It was more reminiscent of early October than late November.

“If you are comparing street shopping versus mall shopping, who would have walked around downtown Red Bank or Somerville on a rainy Friday, Saturday or Sunday?” Robinson said. “This way, it was like, ‘Let’s go out and go outside.’ ”

Fisher, of A.H. Fisher Diamonds, noticed the shoppers.

“There was more foot traffic in Red Bank Friday and Saturday than I think I have seen other Thanksgiving weekends,” Fisher said. “I am being very optimistic for a good holiday season.”