Key Economic Development Agencies Expand Partnership

On Nov 2, 2018

The Cumberland County Improvement Authority (CCIA) and the Cumberland Empowerment Zone Corp. (CEZC) have enhanced and expanded their partnership in a joint economic development effort to attract new enterprises, expand existing ones, facilitate development projects, and grow the local economy, announced CCIA President and CEO Gerard Velazquez.

The two similar but specialized agencies have a proven history of working together on several key investment initiatives. The partnership will now be closer and contribute even more effectively to the county’s growth.

“Creating a pathway for these two stellar agencies to work together is a step forward for efficient county government,” said Cumberland County Board of Freeholders Director Joe Derella. “The increased coordination will deliver business services better and boost economic development in Cumberland County.”

CCIA is a governmental agency which provides financing and expertise for businesses, professions, and industries and stimulates overall economic growth with crucial development investments. Key projects currently under construction include the $20 million Vineland Police Headquarters, the $24 million expansion at the Cumberland County Technical Education Center, and the $10 million Bridgeton Food Specialization Center.

“Our new closer partnership with the CEZC allows us to bring the appropriate resources to bear in each instance and use each agency to its fullest,” said Velazquez. “This is a milestone in the economic growth of the county and will provide benefits to our citizens far into the future.”

The CEZC, a private, non-profit corporation, primarily drives development and employment by streamlining business and project financing with start up and subordinate funding. It is one of the most active and effective empowerment zones in the U.S. and, since its creation in 1999, has helped attract more than $270 million in public and private funding to push the local economy forward.

Freeholder Board Deputy Director Darlene Barber, who was Chair of the Board of the CEZC said, “Moving forward with an enhanced partnership between these two key economic development agencies allows each one to bring different strengths to projects and thus serve the county better.”

As part of the new relationship between the two agencies, Jeannine MacDonald will serve as Chief Operating Officer of the CCIA and Director of the CEZC.  “The CEZC and CCIA share common goals to further economic and community development within the county.  Working together allows us to use the unique abilities of each entity to accomplish those goals in the most efficient way possible” said MacDonald.

As just one example of the closer partnership, CCIA and CEZC are working together to drive long-term capital investments into low-income rural and urban census tracts in Vineland, Millville, and Bridgeton as part of the new Opportunity Zone program included in last year’s federal Tax Cuts and Jobs Act.

The expanded partnership agreement is intended to closely align the resources, experience, and strengths of the CCIA and CEZC for the advancement and benefit of the county. Both organizations will relocate in the near future to new facilities adjacent to the CCIA Solid Waste Complex in Rosenhayn.

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