US food company Campbell Soup Company has entered into an agreement with the State of New Jersey and the City and County of Camden which will see the company invest up to US$72m in the expansion of its corporate headquarters in Camden as part of a redevelopment plan for the city.
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Campbell said the investment reflects the latest step in its transformation, and also its longstanding commitment to Camden, where the company has been based since 1869.
The company has unveiled plans for a new 80,000 square foot employee services building in addition to improvements to existing Campbell buildings.
“Camden has been Campbell’s home for more than 137 years,” said president and CEO Douglas Conant. “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 organisations.”
Along with the Campbell development, it has also been announced that the state will partner with Campbell to help develop a 110-acre office park in Camden’s Gateway Redevelopment District. Campbell said that the state, county, and city plan to invest about $26m in the area’s infrastructure, including improvements to roads, as well as water and sewer upgrades for the redevelopment area.
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By GlobalData“This deal demonstrates the importance and the benefits of public-private partnerships in helping our communities thrive,” said New Jersey Governor Jon Corzine. “Stimulating economic growth is vital to our ongoing efforts to revitalise 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 company added.
