Cumberland County Says, “YES” to $110 Million of Private Investment!
According to Cumberland County Improvement Authority officials, Cumberland County has realized over $110 million in private investment this year. “This investment also led to the creation of nearly 900 jobs in our area,” Gerard Velazquez, Executive Director of the Improvement Authority told a group of local business and organizational leaders recently.
In addition, Velazquez said, job growth in this area is higher than the state’s average in most private sector categories including food processing and manufacturing where Cumberland County now ranks with a 6% lead over all New Jersey.
Members of the County’s Economic Development Board also shared information related to the enterprise advancements and opportunities the CCIA is continually promoting to both existing and prospective businesses. The Economic Development Board guides and supports the County’s Strategic Plan which includes both short-term and long-term economic development initiatives.
The workforce data shared with the County’s Economic Development Board which was also addressed at the Cumberland County Improvement Authority’s October State of the County event also included the fact that more than 85% of employee growth in the County has originated from 47 small to large size existing companies.
$110 million private investment led to creation of nearly 900 jobs in Cumberland County area.
Velazquez explained, “For 2017 we’ll be updating Cumberland County’s Economic Development Strategic Plan which includes working with domestic and international companies through our partnerships with local, regional and state agencies.” He added, “We’ll also focus on assisting local municipalities in efforts to create additional development-ready sites to attract new business.”
With workforce training and development being a primary interest for growing companies, Velazquez said the new Cumberland County Technical Education Center and the Center for Workforce Development – both joined on the campus of Cumberland County College better positions Cumberland County to support its existing companies and to be a more aggressive contender for those considering relocation in the Northeast.