Campbell Soup Company on February 7 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, 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.
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.
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