TRENTON, N.J. (April 4, 2007) – – Kathleen E. Stucy of Cherry Hill, has been named vice president of operations by the New Jersey Economic Development Authority (EDA). In this role, she will oversee the EDA’s Credit Compliance, Credit Underwriting, Lending Services and Program Services divisions.

Stucy has more than 25 years of professional banking experience and expertise in commercial, corporate, real estate and health care lending. Most recently, she served as senior executive vice president and chief lending officer of Susquehanna Patriot Bank, where she was responsible for all commercial lending activity in southern New Jersey and eastern Pennsylvania and managed a $1.3-billion loan portfolio.

“Kathie has a wealth of experience on both the sales and credit sides of banking and we look forward to her bringing her talents to our dynamic, experienced, creative EDA team,” said EDA Chief Executive Officer Caren S. Franzini.

Before joining Susquehanna Patriot Bank in 2005, Stucy was senior vice president of credit products for Wachovia Bank and a predecessor company, First Union National Bank, where she managed corporate, health care and commercial loan portfolios exceeding $1 billion. She has also held senior-level positions with CoreStates Bank, N.A. and Meridian Bank. She began her career with Midlantic National Bank.

Stucy has been a trustee of the Visiting Nurse Association of Greater Philadelphia since 1999 and previously served as director of the American Red Cross of Central New Jersey and a board member of the YMCA of Philadelphia and vicinity. She is also a member of the Forum of Executive Women.

She earned a B.A. degree, magna cum laude, from Marietta College and an M.A. degree with honors in Spanish language and literature from New York University. She also graduated with honors from the Stonier Graduate School of Banking at the University of Delaware.

The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.

TRENTON, N.J. ( March 2007 ) – The New Jersey Economic Development Authority (EDA) has approved a $1 million investment through the Edison Innovation Fund to help Archive Systems, Inc. develop state of the art digital infrastructure as they expand their document storage service company into digital document management. The Edison Innovation Fund, a key element of Governor Corzine’s Economic Growth Strategy, was created to support technology and life science companies throughout their discovery, development and commercialization stages.

“The Economic Growth Strategy advanced by Governor Corzine has made technology and life science investments a priority, and the EDA is committed to nurturing the growth of these businesses as we work towards creating new, quality jobs and a more vibrant state economy,” said EDA Chief Executive Officer Caren Franzini.

The EDA, in consultation with the New Jersey Commission on Higher Education and the New Jersey Commission on Science and Technology, is responsible for managing the $150-million Edison Innovation Fund, which will increase access to early-stage capital and provide specialized assistance to existing mid-sized and large technology and life science businesses. It will provide investments of up to $100,000 for companies that do not have a fully developed product or technology and up to $1 million to assist emerging companies in commercializing their products.

“Investing in Archive Systems, Inc. is just one example of how the Edison Innovation Fund can enhance New Jersey’s strong record of innovation and ensure that our technology and life science businesses are able to compete in the global, high-tech economy,” said Kathleen Coviello, EDA’s program manager for science and technology.

Fairfield-based Archive Systems, Inc., the premier provider of Document Processing Outsourcing, was founded in 1991 as a document storage service company. As part of a comprehensive source-to-shred document service business, Archive offers both records center storage for hard copy files and digital services including web-based image storage and retrieval and work-flow automation services. The $1 million loan from the EDA was made for five years at a fixed interest rate of 4 percent, with interest-only payments due for the first six months. As a result of the loan, Archive will be able to retain its 155 employees and create approximately 28 new jobs within the next two years.

The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.

For more information on the Edison Innovation Fund, visit www.edisoninnovationfund.com . To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.nj.gov/njbusiness .

TRENTON, N.J. (March 8, 2007) – The New Jersey Economic Development Authority (EDA) has launched a new online application to make it easier for prospective borrowers to apply for financial assistance. The application will be available at https://www.njeda.gov/online beginning Monday, March 12.

The EDA created the streamlined application to offer a more customer-friendly process for business owners, nonprofit organizations, municipalities and developers. The application is tailored to accommodate each customer’s need.

“Many people applying for EDA funding have viewed the process as complicated and time consuming,” EDA Chief Executive Officer Caren S. Franzini said. “In conjunction with Governor Corzine’s Economic Growth Strategy to support the growth of small and mid-sized businesses, the EDA’s new, improved online application will provide a more straightforward system that is easy to use.”

The online application is available for customers interested in applying for assistance through the EDA’s portfolio of resources, which include low-interest loans, loan guarantees, tax incentives and other financial products. EDA assistance is designed to spur urban revitalization, encourage development of technology companies, bridge financing gaps and increase access to capital for small and mid-sized businesses and nonprofit borrowers.

Those interested in applying for financial assistance are strongly encouraged to speak to an EDA finance officer prior to completing the application online, so that businesses can gain the best information about EDA resources to fit their needs. Any organization interested in exploring EDA resources can call the EDA Customer Care line at (609) 777-4898 or email CustomerCare@njeda.com.

The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support, entrepreneurial training, and real estate development activities. To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.nj.gov/njbusiness.

NORTH BRUNSWICK, N.J. (March 8, 2007) – Budding entrepreneurs who are thinking about pursuing the American dream of small-business ownership can find out if franchising is right for them by attending a one-day conference on Saturday, March 31, from 8:30 a.m. to 3:30 p.m. at The Technology Centre of New Jersey, located on U.S. Route 1 South in North Brunswick. After an introduction to franchising, participants will be able to choose to attend one of two sessions on buying a franchise or franchising an existing business.

“Franchising as a Business Opportunity,” an educational conference, is being offered by the Entrepreneurial Training Institute (ETI), a program operated by the New Jersey Economic Development Authority (EDA) to help existing and aspiring entrepreneurs develop a detailed strategic plan for running their own company. The program advances Governor Corzine’s Economic Growth Strategy to support the creation and growth of small, minority-owned, and women-owned businesses. The conference is sponsored by the EDA, the International Franchising Association, the New Jersey Commerce, Economic Growth and Tourism Commission, the New Jersey Small Business Development Centers, the Regional Business Assistance Corporation, UCEDC, Middlesex County College, and the U.S. Small Business Administration (SBA).

The conference will present critical information in a non-sales environment to help attendees understand the issues involved in either buying a franchise or franchising an existing business. What are the advantages and disadvantages of franchising? What are the key legal questions individuals need to ask? How do you buy a franchise? What do you need to obtain financing and how do you go about securing it? The information provided at the conference will enable attendees to find answers to these questions and others they may have about operating a franchise and building a successful business.

“Many individuals have thought about owning their own company and determining their own business destiny,” said EDA Chief Executive Officer Caren S. Franzini. “Now they can attend our conference to help determine if franchising is a viable option for them.”

Larry Feierstein, a franchising authority with years of experience as a franchisee, franchisor and speaker for the International Franchising Association (IFA), will lead the program. He will be joined by representatives of the EDA and the SBA, various lending institutions and legal experts. There will be ample opportunity for networking.

The cost is $50 per person for those who pre-register and $65 at the door, and includes a continental breakfast and lunch buffet. For more information on the franchising conference and a registration form, or to learn more about the ETI program, visit www.njeda.gov/eti or call (609) 292-9279. Those interested in exhibiting at the conference may also call this number.

Primary sponsors of the ETI Program are Bank of America, Merrill Lynch, PNC Bank and the Wachovia Foundation. The EDA provides financing and technical support to encourage business and job growth in New Jersey.

To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.nj.gov/njbusiness.

TRENTON, N.J. (March 8, 2007) – Special programs to help nonprofit organizations reduce their reliance on grant funding and become more self-sufficient will be offered by the Entrepreneurial Training Institute (ETI) in Newark and Union beginning in March.

The ETI for Nonprofits is provided by the New Jersey Economic Development Authority (EDA) through three programs that are designed to sequence the nonprofit’s journey to define and grow a successful earned-income venture. This includes identifying a sustainable business idea, completing a market analysis, creating a marketing plan, understanding financials, developing resources and boards, and receiving ongoing technical assistance.

In Brainstorming and Idea Screening, nonprofit organizations will focus on small-business feasibility by examining their business ideas and evaluating skills, risks, financial readiness, dedication of staff, board commitment and sales and expense assumptions. Following a half-day group training class, ETI consultants will go to the nonprofit site to facilitate a half-day brainstorming and screening retreat with the staff and/or board.

The cost of $500 will cover the two half-day sessions, plus professional feedback and resources. The half-day group training class will be held in Newark on March 13 from 9:30 a.m. to 12:30 p.m. The on-site facilitation and mentoring schedule will be based on mutual availability.

Business Case Development is a program designed to assess the feasibility of moving forward with the organization’s business plan. It includes examining and building organizational commitment and a feasibility assessment of the business idea, competition, financial readiness, and documenting sales and expense assumptions.

A fee of $500 will cover a half-day of instruction in a group setting, followed by a half-day retreat at the nonprofit site, and an additional half-day of mentoring from EDA consultants. The half-day of instruction will be held on May 15 from 9:30 a.m. to 12:30 p.m. in Newark. The on-site facilitation and mentoring schedule will be based on mutual availability.

Business Planning will assist nonprofit organizations in developing a quality business plan in a methodical process with feedback to prepare for grantmakers or lenders. The instruction session will be 12 hours in a group setting with additional feedback time allocated, including 8 hours of on-site facilitation.

The instruction team will assist nonprofit organizations in preparing a compelling “pitch” to present to a panel of accountants, lawyers, marketing professionals, lenders and grantmakers. This panel provides an opportunity for feedback and networking with lenders who finance nonprofits including the EDA. The $1,500 class fee will also cover mentoring to start and expand this initiative following the presentation.

The four instruction sessions will take place from 9:30 a.m. to 12:30 p.m. in Union on March 14 and 28 and April 11 and 25. The on-site facilitation and mentoring schedule will be based on mutual availability.

Nonprofit organizations are required to secure an IRS 501(c)(3) designation to confirm their nonprofit status and undergo an assessment of their readiness to register for the ETI program. The needs assessment, which must be completed prior to enrollment, can be arranged by calling ETI at (609) 292-9279 or by e-mailing eti@njeda.com.

The EDA provides technical assistance through Aperio, one of the nation’s leading consulting firms for nonprofits engaged in social enterprise. Aperio staff members are content experts in earned-income ventures and provide valuable depth of knowledge, experience and network within New Jersey, nationally and internationally.

For registration materials and more information, visit www.njeda.gov/eti, call the ETI at (609) 292-9279, or send an e-mail to eti@njeda.com. Payment must be received for an applicant to be fully registered and eligible to attend classes. Primary sponsors of the ETI Program are Bank of America, Merrill Lynch, PNC Bank and the Wachovia Foundation.

The EDA provides financing and technical support to encourage business and job growth in New Jersey.

To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.nj.gov/njbusiness.

TRENTON, N.J. (February 15, 2007) – The New Jersey Economic Development Authority (EDA) continued to advance Gov. Jon S. Corzine’s comprehensive Economic Growth Strategy in 2006 by finalizing $660 million in financing assistance and business incentives to support business growth and job creation in the state. This assistance is supporting new public/private investment of more than $1.8 billion in New Jersey’s economy that is expected to result in the creation of over 15,200 new, full-time jobs and almost 6,700 construction jobs.

Preliminary 2006 results show that the EDA closed $425.5 million in bonds, loans, loan guarantees and environmental assistance grants with 187 projects in calendar year 2006 to support economic growth and job creation in New Jersey. Additionally, the Authority executed 82 Business Employment Incentive Program (BEIP) grants in 2006 worth an estimated $173.6 million over 10 years to companies planning to create nearly 11,500 new jobs in New Jersey and invest more than $1.1 billion in their projects. Businesses executing BEIP grants in 2006 included Vonage (1,657 jobs), Citigroup (1,200 jobs), Sanofi-Aventis (850 jobs), Unilever (450 jobs) and MetLife (400 jobs).

“The EDA has been a catalyst for creating jobs and promoting economic growth for more than three decades, and we continued to move forward on these fronts in 2006 as we worked to achieve the Governor’s Economic Growth Strategy objectives,” said EDA Chairman Dr. Carl E. Van Horn.

Added EDA Chief Executive Officer Caren Franzini: “We focused our resources on the key business sectors critical to the state’s economy, like technology, the life sciences, manufacturing, logistics and financial services, as we met the financial and real estate development needs of small and mid-size businesses and stimulated investment in the state’s urban communities.”

The 2006 results boost the EDA’s financing totals to $17.2 billion since it was established in 1974. This assistance has leveraged more than $26.5 billion in new business investment and supported the creation of nearly 209,000 new, full-time jobs and 260,000 construction jobs. Through year-end, the EDA had also executed 318 BEIP grants worth more than $1 billion to encourage the expansion and relocation of businesses in New Jersey. The grants have spurred investment totaling approximately $10.8 billion the state’s economy since 1996 and resulted in the creation of more than 63,400 new jobs.

Additionally, the EDA approved 128 technology and biotechnology companies to share the $60 million allocation available in 2006 through the state’s Technology Business Tax Certificate Transfer Program, which is administered by the EDA in conjunction with the New Jersey Commission on Science and Technology and the state Division of Taxation.

Among its accomplishments in 2006, which support the Governor’s Economic Growth Strategy, the EDA:

Technology/Life Sciences

• Welcomed the first tenants to its Waterfront Technology Center at Camden, and received a Leadership in Energy and Environmental Design (LEED) core and shell gold-level certification from the U.S. Green Building Council for this modern technology facility – the first public project in the state to be certified under the Green Building Rating System. Also leased space at its Technology Centre of New Jersey in North Brunswick to four new biotechnology/pharmaceutical businesses.


• Approved a $2-million investment in the Edison VI Venture Fund and a $400,000 investment in the NextStage Capital L.P. venture fund to support the growth of early-stage technology companies in New Jersey.


• Targeted the first $45 million of its $150-million commitment to advance the Edison Innovation Fund, a new state effort managed by the EDA under the Governor’s Economic Growth Strategy to support technology and life sciences companies. The Fund’s aim is to increase access to early-stage capital and provide specialized assistance to existing mid-size and large technology and life sciences businesses. It also will build the capacity of New Jersey’s research colleges and universities in strategic areas that complement economic development.

Community Redevelopment, Brownfields

• Finalized the first financings for significant development projects in Edison, Millville and Trenton resulting from a $125-million federal allocation under the New Markets Tax Credits program to support investment and economic growth in low-income areas of the state.


• Continued to advance a Portfields Initiative with the Port Authority of New York and New Jersey and other state agencies to drive the expansion and modernization of warehousing and distribution functions in the Port District to help meet the growing commercial cargo and distributions center needs of businesses. Several major redevelopment projects are already moving forward in Carteret, Edison, Linden, Perth Amboy and Woodbridge.


• Promoted the investigation and cleanup of brownfield properties and underground storage tanks by providing 72 projects with more than $13.8 million in grants and low-interest loans.


• Expanded resources available to municipalities for advancing neighborhood revitalization by making available new funding to finance feasibility studies and other predevelopment costs associated with redevelopment projects, including planning and marketing expenses.


• Made a $185-million commitment that will be leveraged with private funding to establish the New Jersey Urban Fund. The Fund is designed to spur investment in the state’s urban communities by providing businesses and community development organizations with the financial and technical tools they need to grow and revitalize neighborhoods.

Core Small and Mid-Size Businesses

• Provided more than $305 million in financing assistance to small and mid-size businesses and nonprofit organizations planning to invest more than $515 million in New Jersey’s economy.


• Closed almost $121 million in financing assistance and business incentives with 72 manufacturers planning to create nearly 4,300 new jobs and invest more than $764 million in their projects.


• Completed the first full year of curriculum enhancements to its Entrepreneurial Training Institute for new and aspiring small-business owners and helped train more than 140 students who enrolled in the two-stage program at sites throughout the state to examine the feasibility of their business ideas and/or develop a formal business plan.

Other

• Implemented guidelines to ensure that its venture capital and community development investments are aligned with the Economic Growth Strategy and consistently support the success of emerging technology companies, woman-owned and minority-owned enterprises and other small businesses, and real estate development projects in New Jersey.

The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.

To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.nj.gov/njbusiness.

TRENTON, N.J. (February 13, 2007) – Spring Session classes for the popular Entrepreneurial Training Institute (ETI) are scheduled to begin next month at 10 locations throughout New Jersey. The program helps existing and aspiring small-business owners learn the basics of entrepreneurship and how to prepare a detailed business plan. The course will be offered in Jackson, Jersey City, Mount Laurel, North Branch, Perth Amboy (Spanish-speaking only), Trenton, Union, Vineland, Washington, and Wayne. The innovative ETI program helps to advance Governor Corzine’s Economic Growth Strategy to foster the growth of small businesses, particularly woman-owned and minority-owned enterprises. It is sponsored by the New Jersey Economic Development Authority (EDA).

Approximately 1,300 people have graduated from the program since it was established in 1992, many of whom are either well on their way to establishing their own business or are already successful entrepreneurs.

“Instruction team members for each ETI class location are primarily associated with local banks and economic development organizations,” said EDA Chief Executive Officer Caren S. Franzini. “This means that students learn from the same experts who might ultimately finance their business.”

The program is divided into ETI I and ETI II segments. All classes will be held between 6 and 9 p.m. The ETI program for Spanish-speaking students is offered in Perth Amboy.

In ETI I, “Get Set for Entrepreneurship,” students focus on small-business feasibility, examining their business ideas, evaluating skills and risks, and identifying the resources necessary to move forward. The cost of $145 will cover six classroom hours (two sessions), plus professional feedback, text materials and resources.

ETI II, “Business Planning,” includes four highly structured three-hour sessions that help students develop a formal business plan with feedback and coaching. A fee of $295 will cover 12 classroom hours plus professional feedback, text materials and resources, guest speakers and presentation practice. Prospective students should visit www.njeda.gov on the Internet to complete the ETI Self-Assessment Tool to determine their personal and financial readiness for starting and growing existing businesses. This tool will benefit anyone who is considering enrollment in the ETI program or thinking about starting or improving a business operation. Students enrolled in ETI I must complete the self-assessment and bring it to the first class.

To enroll in ETI II, students with startup businesses or businesses less than one-year-old must complete the self-assessment, ETI I and a Business Readiness Roadmap. Students who have operated a business for more than one year need only submit a completed Business Readiness Roadmap.

Once ETI II classroom sessions are completed, students submit their business plan to a panel of banking, accounting, law, marketing and economic development professionals for a thorough review. A sound business plan is necessary when students seek financing.

ETI graduates also can utilize a Business Mentoring Program, which provides free post-graduate services through four business development organizations covering the state. The program, which is funded by the EDA, provides mentors to assist graduates in overcoming the obstacles they typically face as new business owners. For existing business owners, the mentor provides information on how to improve or expand operations.

Primary sponsors of the ETI Program are Bank of America, Merrill Lynch, PNC Bank and the Wachovia Foundation. The EDA provides financing and technical support to encourage business and job growth in New Jersey.

*ETI for Spanish-Speaking Only

CAMDEN, N.J. (February 7, 2007) – Campbell Soup Company (NYSE:CPB) today announced an agreement with the State of New Jersey and the City and County of Camden under which Campbell will make an investment of up to $72 million to expand and enhance its World Headquarters in Camden as part of a redevelopment plan for the city. The investment reflects the latest step in Campbell’s transformation and the company’s longstanding commitment to Camden, its home since 1869. At a morning news conference today, Campbell President and CEO Douglas R. Conant will unveil plans for a new 80,000 square foot employee services building and highlight enhancements to existing Campbell buildings.

“Camden has been Campbell’s home for more than 137 years,” Conant said. “We have deep roots here, not just in bricks and mortar, but through our community service, employee volunteerism, and through the Campbell Soup Foundation’s partnerships with community organizations. This is a great day for Campbell; a great day for the City and County of Camden; and a great day for the State of New Jersey and the Delaware Valley.”

Conant will be joined at the news conference by New Jersey Governor Jon S. Corzine, along with state, county and local officials, and community leaders. Corzine plans to announce that the state will partner with Campbell to help develop a 110-acre office park in Camden’s Gateway Redevelopment District, with Campbell as its anchor. The state, county, and city plan to invest about $26 million in the area’s infrastructure, including improvements to roads, as well as water and sewer upgrades for the redevelopment area.

“This deal demonstrates the importance and the benefits of public-private partnerships in helping our communities thrive,” Governor Corzine said. “Stimulating economic growth is vital to our ongoing efforts to revitalize Camden, and this collaboration between Campbell and state, county, and local government represents an important sign of renewal for the city.”

The project is predicated on future governmental actions before construction of the new Campbell building and the development of the proposed office park will begin.

The development project is dependent upon the re-zoning of the immediate area around Campbell from “light/industrial office” to “office campus zone.” The proposed 110-acre office park will extend from Pine Street to Admiral Wilson Boulevard and will be able to accommodate approximately 500,000 additional square feet of office space. Campbell will be designated the master developer of the 110-acre office park and will work with state and local officials to attract developers and other businesses. Campbell’s campus will use approximately 40 acres.

Campbell’s new employee services building will feature a dramatic glass entrance and lobby with super-graphics that will be visible from Rt. 30 and easily accessible from both Rt. 30 and interstate 676. The new building will include a state-of-the art cafe; fully equipped fitness center; a company store and credit union; as well as office space and conference rooms. These all will be relocated from existing buildings. Campbell plans to link the new facility with other buildings on its campus to create an open-air courtyard. Additionally, the building will house an innovative training and learning center called Campbell University.

The new building will be designed by Philadelphia-based architects KlingStubbins as an environmentally-friendly, LEED-certified (Leadership in Energy and Environmental Design) “green” facility. It will employ energy efficient HVAC, water conservation, recycled building materials, and day-light harvesting, among other environmentally efficient features.

Campbell expects to break ground on the building, pending permits and other governmental approvals, in the summer of 2007 and plans to complete construction in the fall of 2008. Once the new building is completed, Campbell’s Camden facilities will include approximately 750,000 square feet of office and research and development space. The project marks the first major development to Campbell’s World Headquarters since the construction of the Dr. John T. Dorrance Culinary Center in 2003. The Dorrance Center is regularly a site of community events.

“This project is the latest step in Campbell’s transformation,” noted Conant. “We have made extraordinary strides in meeting workplace, marketplace, and financial goals during the past six years. The time is right to enhance our work environment for employees and visitors. This campus will be the new face of Campbell Soup Company in Camden.”

Camden Mayor Gwendolyn Faison said, “Campbell Soup Company is synonymous with the City of Camden. We are thrilled that Campbell has joined with the city, county, and state in a plan that will strengthen Campbell’s roots in Camden and that the company will continue to contribute to the many positive developments underway here.”

The development of Campbell’s new campus and the surrounding office park are the latest in a series of redevelopment efforts undertaken to rejuvenate Camden, including the creation of waterfront attractions, such as the Adventure Aquarium and the Tweeter Performing Arts Center; Campbell Field, home to the Camden Riversharks independent league baseball team; the expansion of Rutgers University Law School; and the Victor Lofts, a residence built in the historic RCA Victor manufacturing facility, among others. There are additional redevelopment efforts beyond the waterfront, including the new Cooper Hospital patient care pavilion, and the new UMDNJ Academic and Research Building, among others.

To improve traffic patterns for the overall office park and surrounding area, the state and city plan to implement roadway recommendations outlined by the State of New Jersey and the Camden Redevelopment Authority.

Located in Camden since its founding in 1869, Campbell Soup Company is the longest-standing corporate tenant in the city and the only Fortune 500 Company headquartered in Camden. Campbell has been an active participant in Camden’s redevelopment through a number of initiatives, including its ongoing activities through the Campbell Soup Foundation, which is dedicated to supporting organizations that inspire positive change in the communities where Campbell operates. On average, the Foundation contributes $1.5 million annually to nonprofit organizations working to produce tangible results in education, housing, health, and economic development; the vast majority of those funds directly benefit organizations located in Camden. For example, the Campbell Soup Summer Program supports organizations that offer Camden youth summertime activities such as career training, recreation, and cultural and academic instruction. Over its 31-year history, the Summer Program has contributed more than $10 million to local organizations and has provided constructive summers to more than 500,000 Camden youth. Additionally, Campbell and its employees are the largest single contributor to the United Way of Camden County.

About Campbell Soup Company Campbell Soup Company is a global manufacturer and marketer of high quality simple meals, including soups, baked snacks, vegetable-based beverages, and premium chocolate products. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s,” “V8,” and “Godiva.” For more information on the company, visit Campbell’s website at www.campbellsoupcompany.com.

Key Element of Economic Growth Strategy Supports Targeted Investments in Discovery, Development, Commercialization and Growth

TRENTON, N.J. (January 16, 2007) – Targeted investments of $45 million have been allocated to advance the Edison Innovation Fund, a key element of Governor Corzine’s Economic Growth Strategy to help create, sustain and grow technology and life sciences businesses in New Jersey. Coupled with $60 million in investments made earlier in 2006 through the Fund, New Jersey has now committed over $100 million to support and encourage innovation in the state.

The Edison Innovation Fund is a state effort managed by the New Jersey Economic Development Authority (EDA) that has been created to support technology and life sciences companies principally focusing on renewable energy, stem cell research, nanotechnology and communications through discovery, development and commercialization. The Fund will increase access to early-stage capital and provide specialized assistance to existing mid-sized and large technology and life sciences businesses, and also will build the capacity of New Jersey’s research colleges and universities in strategic areas that complement economic development.

“Growing jobs and supporting economic growth in the technology and life sciences industries are the cornerstones of the Economic Growth Strategy,” said EDA Chairman Dr. Carl E. Van Horn. “Building on Governor Corzine’s vision, the Edison Innovation Fund will support research and development in the growth and core industries that are vital to New Jersey’s economy.” The $45 million will be targeted to several investment areas, including:

• Edison Innovation Angel Guarantees
  The angel guarantee fund was launched with Jumpstart NJ in 2006 with an allocation of $1 million. EDA will continue this commitment under the Edison Innovation Fund with an additional $1 million targeted for this purpose.


• Edison Innovation — Research & Development
  Promising early-stage research companies can gain access to up to $100,000 in equity-like financing for non R&D related costs, in combination with up to $500,000 in grant funding from the New Jersey Commission on Science & Technology.


• Edison Innovation — Commercialization
  Qualified early-stage companies seeking to bring their new project to market will be eligible for up to $200,000.


• Edison Innovation — Growth
  Qualified companies seeking to grow their operations will be eligible for up to $1 million in funding. Applicants at this stage should have an independent reference-able “beta” and will have “fresh” match funding.


• Edison Innovation “Fund of Funds”
  EDA has put in place new guidelines to ensure that its venture capital investments are aligned with the Economic Growth Strategy and consistently support the success of emerging New Jersey-based businesses. It is estimated that approximately $20 million in venture funds commitments will occur with investment in three or four funds.

“The initiatives advanced by the EDA will maximize the goals of the Edison Innovation Fund and further encourage the location and growth of technology and life science businesses and jobs in New Jersey,” EDA Chief Executive Officer Caren S. Franzini said. “EDA and its partners are looking closely at making thoughtful, targeted investments in the companies with the greatest potential to bring vital new products to market.”

The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.

For regular updates on the Edison Innovation Fund, visit: http://nj.gov/njbusiness.