New Jersey American Water Supports Camden's Community Development with $950,000 Funding

New Jersey American Water's Investment in Camden Community Development

In a commendable initiative, New Jersey American Water has announced a $950,000 funding commitment aimed at community development projects in Camden. The funding, allocated through the Neighborhood Revitalization Tax Credit Program, will support two notable nonprofit organizations in the area: the Heart of Camden and the Parkside Business Community in Partnership (PBCIP). This financial backing represents not only a significant investment in local infrastructure but also a commitment to enhancing the quality of life for Camden's residents.

Investment Details

The funding breakdown features $800,000 directed towards PBCIP, a community-driven organization established over three decades ago, with a focus on revitalizing the Parkside neighborhood through efforts concerning commercial enhancement, affordable housing, and various quality-of-life programs. Bridget Phifer, CEO of PBCIP, expressed gratitude for the support, stating, "We are profoundly grateful to both New Jersey American Water and the New Jersey Department of Community Affairs for their confidence in our work and their shared commitment to advancing equitable outcomes." This assistance will enable PBCIP to bolster its initiatives, widen its impact, and help further community development projects.

In addition, $150,000 will go to the Heart of Camden, an organization that has been tirelessly working to elevate the Waterfront South neighborhood's living conditions for over 40 years. Executive Director Carlos Morales mentioned, "We are deeply grateful to New Jersey American Water and the Neighborhood Revitalization Tax Credit Program for recognizing the potential of Waterfront South and investing in its future." This funding will support ongoing projects, including the redevelopment of the historic Olsen Building and a revitalized grocery market at Ferry Avenue. It's a pivotal step toward creating fresh arts, retail, and community spaces while preserving integral neighborhood history.

Long History of Support

New Jersey American Water's investment boasts a rich history. Since its introduction of the Neighborhood Revitalization Tax Credit Program in 2010, the firm has contributed approximately $13.4 million to statewide community initiatives. Out of this, around $11.5 million has specifically targeted projects in Camden, reflecting a long-standing dedication to supporting the local community. The company's extensive investments since 2020 have exceeded $2.3 million, with an emphasis on enhancing affordable housing, commercial development, and overall economic growth in Camden.

Strengthening the Community's Future

As Camden's resident water service provider for over 130 years, New Jersey American Water takes pride in recognizing and endorsing organizations that make a tangible difference within the community. Mark McDonough, the company's president, emphasized the significance of these contributions. "Camden is home to New Jersey American Water, and we are proud to recognize two outstanding organizations making a difference in our backyard," he stated. Their mission aligns with a broader vision of sustainable improvement, empowering local residents, and nurturing community growth in Camden.

In summary, the awarded funding marks a crucial step in Camden's revitalization efforts, fostering development through community collaboration and support, establishing a brighter future for its residents. The partnership with PBCIP and Heart of Camden will serve as a vital cornerstone for ongoing enhancements to the city's infrastructure and social fabric, promising a thriving environment for generations to come.