NJBIZ

Maker of steak, chicken products is expanding in Vineland

Allied Specialty Foods Inc. — a manufacturer of steak and chicken products for food service distributors, restaurant chains and other food manufacturers in the U.S., Canada, Puerto Rico and foreign U.S. military bases — is staying and expanding its operations in New Jersey.While the company had previously expressed interest in relocating to Delaware, it has instead chosen to invest $14 million into a 75,000-square-foot facility on 8.8 acres in the Vineland Industrial Park that will become business headquarters and the operating plant by the fourth quarter of this year.

“Allied Specialty Foods Inc. has called the state of New Jersey home for more than 20 years, and we are thrilled that it will continue to be headquartered in Vineland for the next 20 years and beyond,” Paul Litten, president and operating partner, said in a statement.

The company received a $3.5 million loan from the Vineland UEZ program and a Grow New Jersey Assistance Program award from the New Jersey Economic Development Authority in the amount of $13.7 million to create new jobs.

“Allied Foods has been a staple in Vineland for decades, and its expansion brings a new infusion of jobs and economic benefits to the region,” New Jersey Lt. Gov. Kim Guadagno said in a statement.

Over 70 new jobs will be created in addition to the company’s current 130 employees.

The two existing facilities will become expanded manufacturing operations and cold and frozen storage spaces.

“We see the steak sandwich market continuing to grow, especially among restaurants that currently provide hamburgers on their menus,” Litten said. “Our expansion will help us keep up with the continued increasing demand for these products.”

Allied Specialty Foods hopes to become the No. 1 steak sandwich supplier in the country. Its products are currently used in popular meal items such as the famous Philly cheesesteaks.

Founded in 1956, company sales in 2015 were estimated to be $50 million.

Employment numbers are mixed bag as unemployment rate falls, but so do total jobs

The monthly employment figures released by the New Jersey Department of Labor and Workforce Development were a tale of two numbers.On the upside, the state’s unemployment rate shrank for the 13^th consecutive month, dropping 0.2 of a percentage point to 4.3 percent in February. That mark is 2 percentage points lower over the year from February 2015 to February 2016, and now stands 0.6 of a percentage point lower than the national unemployment rate of 4.9 percent.

“We haven’t seen an unemployment rate of 4.3 percent since August of 2007, and that is only part of the good news,” James Wooster, the state’s chief economist, said in a prepared statement. “The reduction in the unemployment rate is accompanied by an increase in the number of people seeking work, by steady improvements in the New Jersey housing market and by improvements in the manufacturing and business outlook.

“It seems like yesterday that everyone was concerned about the New Jersey economic recovery lagging that of the nation, but those days are over.”

On the downside, however, private sector employment fell by 8,600 jobs from January, according to data from the U.S. Bureau of Labor Statistics. That compounded January’s figure, which was revised downward to a monthly loss of 15,700 jobs, giving the state a two-month losing streak when it comes to total nonfarm employment.

For February, the state lost 10,200 private-sector jobs while adding 1,600 public sector positions.

Among industries, financial activities gained 1,900 jobs for the month, while trade, transportation and utilities gained 1,500 jobs and manufacturing gained 500 positions.

On the other hand, there was a steady pattern of declines across other industries: professional and business services lost 5,600 jobs, leisure and hospitality lost 2,500, education and health services lost 2,200, other services lost 1,900, information lost 1,300 and construction lost 600.

These N.J. counties experienced the highest population growth

Jersey City must be doing something right. The U.S. Census Bureau has released its population growth figures for 2015, and Hudson County showed the largest percentage gain among New Jersey’s counties, adding 0.8 of a percent in population.Bergen County, the state’s most populous county, actually added the largest number of people from July 2014 to July 2015, with a gain of 5,670, to 938,506 residents, but its percentage growth of 0.6 of a percent was only good for second.

Hudson County grew by 5,334 people, to 674,836.

At the other end of the scale, Sussex County ranked last among the state’s 21 counties, losing 0.9 of a percent of its population.

The state as a whole grew 0.2 of a percent, to 8,988,013 residents as of July 1, 2015, the Census Bureau said.

By way of comparison, the nation’s fastest-growing county was McKenzie County, North Dakota, which grew 16.7 percent.

Here are the county-by-county results, in order of percentage gain/loss:

Hudson County: 674,836 residents, up 5,334 or 0.8 of a percent;
Bergen County: 938,506 residents, up 5,670 or 0.6 of a percent
Union County: 555,786 residents, up 2,737 or 0.5 of a percent;
Ocean County: 585,916 residents, up 2,805 or 0.5 of a percent;
Middlesex County: 840,900 residents, up 3,561 or 0.4 of a percent;
Essex County: 797,434 residents, up 2,472 or 0.3 of a percent;
Somerset County: 333,654 residents, up 1,020 or 0.3 of a percent;
Gloucester County: 291,479 residents, up 581 or 0.2 of a percent;
Passaic County: 510,916 residents, up 1,003 or 0.2 of a percent;
Morris County: 499,509 residents, up 273 or 0.1 of a percent;
Warren County: 106,869 residents, up 14 or break-even;
Camden County: 510,923 residents, down 44 or break-even;
Monmouth County: 628,715 residents, down 303 or break-even;
Mercer County: 371,398 residents, down 203, or 0.1 of a percent;
Burlington County: 450,226 residents, down 451 or 0.1 of a percent;
Hunterdon County: 125,488 residents, down 322 or 0.3 of a percent;
Atlantic County: 274,219 residents, down 1,280 or 0.5 of a percent;
Cape May County: 94,727 residents, down 632 or 0.7 of a percent;
Salem County: 64,180 residents, down 490 or 0.8 of a percent;
Cumberland County: 155,854 residents, down 1,245 or 0.8 of a percent;
Sussex County: 143,673 residents, down 1,331 or 0.9 of a percent.

For more information on the Census Bureau’s population data, click here.

Polimeni International sells retail center in Cape May Court House for 32.1M

Polimeni International LLC announced Wednesday the $32.1 million sale of The Plaza at Cape May Court House, a retail center in Cape May Court House.The 164,000-square-foot grocery-anchored retail center has been owned by Polimeni for more than a decade, according to the firm.

“This has been a solid performing property for quite some time, anchored by a supermarket and supported by a range of national and regional tenants in a prime location. We felt this was the time to take advantage of strong market conditions and sell the property so that we could redirect our resources into other opportunities that are in line with our current corporate thinking,” Polimeni International’s CEO Michael Polimeni said in a prepared statement.

HFF marketing the property on behalf of Polimeni International. An affiliate of RW Capital Partners Inc., PW Partners LLC, purchased the complex.

The plaza is located at 11 Court House South Dennis Road in Cape May, one of the most visited tourist destinations on the East Coast with more than 12.5 million visitors annually, according to HFF.

“We are continuing to look at proposals and deals that allow us to maximize our investment, create additional value for our partners and participate in the economic growth of the communities we serve. For example, last year we announced a $12 million investment in our South Plainfield, New Jersey retail center that will feature the construction of a new 76,000 square foot ShopRite supermarket, revitalizing a nearly 50 year old retail center,” Polimeni said in a prepared statement.

“It is no longer about the size of the deal. It is about the value of the deal and whether it is consistent with our expectations for rate of return while bringing our company’s standard of excellence to the project,” Polimeni said in a prepared statement.

The HFF team representing the seller was led by managing director Chris Munley and supported by senior managing director Jose Cruz and managind director Kevin O’Hearn.

“The Plaza at Cape May Court House is the dominant grocery-anchored retail center within the sub-market,” Munley said in a prepared statement. “The asset is anchored by a high-performing ACME and offers additional upside opportunities in conjunction with a currently strong occupancy rate.”

“Retail continues to remain high on investors list of preferred product types with grocery-anchored centers taking the top spot for institutions and private buyers alike,” Cruz said in a prepared staement.

“The Plaza at Cape May Court House acquisition offers RW Capital Partners Inc. the opportunity to redevelop and reposition a core asset in a desirable market,” Robert F. Whalen, Jr., RW Partners managing partner, said in a prepared statement.

Best 50 Women in Business The Class of 2016 slideshow

On Monday night, NJBIZ honored New Jersey’s most dynamic women in business with its Best 50 Women in Business awards dinner, held at The Palace at Somerset Park in Somerset. The Class of 2016 includes bankers, doctors, entrepreneurs and everyone in between.

What they all have in common, however, is that they are leaders in the business community, influential in their companies and industries, and shaping New Jersey’s economic future.

Please enjoy our slideshows of this year’s NJBIZ Best 50 Women in Business (above) and the special awards cocktail reception and awards presentation.

On Monday, in addition to this year’s Best 50 Women, NJBIZ honored Sally Glick of Sobel & Co. with a special Lifetime Achievement Award. Read more of what she had to say from the event here.

Rutgers Law School names co-dean for Camden location

Rutgers Law School has named a co-dean for its location in Camden, the university announced Monday.Michael T. Cahill is a noted criminal law scholar and experienced law school administrator, Rutgers said in a news release. Cahill will serve alongside Ronald Chen as co-deans, with Chen in residence at the Newark campus.

His appointment is effective July 1.

“Professor Cahill is an exceptional administrator and scholar, and an energetic visionary regarding the future of legal education in America,” Phoebe A. Haddon, chancellor of Rutgers University – Camden, said in a prepared statement. “He is the right leader to help establish and advance Rutgers Law School to its rightful place as a national center for legal education in New Jersey and across the nation.”

When the unification of Rutgers’ two legacy law schools was approved in July 2015, they became one Rutgers Law School with locations in Camden and Newark. Thus, Cahill will sit in residence in Camden, while Chen sits in residence in Newark. As co-deans, they will supervise the academic and administrative operations of the law school, Rutgers said, including about 1,100 students and 120 full-time faculty.

Cahill, 44, most recently has worked as a professor at Brooklyn Law School, including servicing as an associate dean for academic affairs from 2010 to 2013, and vice dean from 2013 to 2015.

“His scholarship in the area of criminal law is respected widely by legal scholars and practitioners alike, and his commitment to the success of law students — throughout their time in law school and then as they launch their careers — reflects our own institutional core value of student success,” Haddon said.

Cahill called Rutgers Law School “one of the most exciting opportunities in American legal education” in a statement.

“Its unification into a single institution will stimulate significant internal and external change, and reflects a commitment to dynamism, innovation and evolution,” he said. “Rutgers is blessed with a truly impressive faculty that has earned the respect of legal scholars and practitioners around the world, and its programs attract top-flight, dedicated students to study law in New Jersey. …

“Rutgers is an outstanding public law school, offering as strong a combination of quality and value as one can find, and I am committed to making sure that it continues to launch students into careers that will be rewarding for them and also rewarding for the society at large.”

Cahill, who grew up in Pompton Plains, is a 1999 graduate of the University of Michigan Law School. He also holds a master of public policy degree from the University of Michigan, as well as a bachelor’s degree from Yale University. His scholarship focuses on substantive criminal law, Rutgers said.

“Michael Cahill’s multidimensional experience is precisely what Rutgers Law School needs in a co-dean,” Nancy Cantor, chancellor of Rutgers University – Newark, said in a statement. “His scholarship, practice, leadership in legal education and deep engagement with the impact of law in the lives of communities like Newark and Camden sharply reflect the strengths of our law school. Combined with the collaborative character of his experience in law school administration, he is ideally suited to partner with Newark co-Dean Ron Chen in leveraging those strengths.”

Cahill currently resides in Brooklyn with his family.

The biggest problem in health care today

My daughter got her hand X-rayed the other day. No big deal — thanks for asking — they were just checking her growth plate. And all was good. Until I got the bill.

My daughter got her hand X-rayed the other day.

No big deal — thanks for asking — they were just checking her growth plate. And all was good. Until I got the bill:

$184.

That was the cost — and since I haven’t met my deductible — it’s coming out of my pocket.

I wouldn’t mind if it were a market-value price. It wasn’t.

Had I went to another radiology center two miles away — one that also “takes” my insurance — the bill would have been $26. For the same X-ray.

The charges are based solely on how services are reimbursed.

And therein lies the biggest problem with health care.

We can talk about mergers. We can talk about alliances. We can talk about health care plans and tiers (trust me, there’s plenty of that in the pages ahead).

But until services are priced fairly for consumers (and with transparency), none of that really matters.

In my case, the huge financial difference was a result of the first office being a part of a large system and the other being independent. And let’s be clear — both are freestanding buildings not attached to a hospital.

The insurance company, because it desperately needs to be in-network with the large system, agrees to pay more for simple procedures as long as they are at a facility that is owned by the larger network (a price that’s passed onto me until I meet my ever-growing deductible).

The independent office, meanwhile, desperately needs to be able to accept insurance to get customers. But it is only thrown a few bucks by the insurer, who is fine with or without the independent office.

I’m not going to name the insurer or the health system. It really doesn’t matter; I feel they all make similar deals (ones that are never known to the consumer because it is proprietary information).

And spare me the idea that the X-ray at the health system was with state-of-the-art equipment that only a big system can afford. Systems gobble up practices all the time; the level of care doesn’t change, just the rate of reimbursement.

After all, if the system acquired the independent office, the cost of the X-ray would change overnight.

Here’s my request: Let me know the cost ahead of time. Don’t tell me if you accept my insurance, tell me how much my insurance company is scheduled to pay.

And don’t try telling me how it’s too difficult to tell the cost because there are so many different plans. Every other product sold in the country manages to tell me the price before I make a purchase.

Let me decide if I do or do not want the “benefits” of going to the bigger system. Let me be the judge of the perception of quality vs. price.

It’s what happens when I go get a burger. I know Zinburger is at a difference price point than Wendy’s. Let me decide what I’m in the mood for. That’s fair.

A price of $184 vs. $26 for a basic X-ray. That’s not fair. And it’s not right.

It’s the biggest problem in health care today.

And the reason I won’t be going back to Zinburger anytime soon.

NJBIZ reveals Power 50 Health Care slideshow

Health care is a vital part of the New Jersey economy. So, it only goes to figure that NJBIZ would identify the top players in this top sector of that industry. In our slideshow, we’ll detail our 50 selections in an effort to show how the person (or the company or the trend) is impacting this powerful part of our economy.Consider these stats from the New Jersey Department of Labor and Workforce Development:

It is roughly 7 percent of our Gross Domestic Product, contributing nearly $35 billion in 2012, which was the last year statistics were available.
It has contributed approximately 200,000 jobs since 1990, more than double the total of all private sector employment.
It paid employees in the sector more than $23 billion in 2013, or more than 12 percent of all wages paid.

So, it only goes to figure that NJBIZ would identify the top players in this top sector of that industry.

In the slideshow above, we’ll detail our 50 selections in an effort to show how the person (or the company or the trend) is impacting this powerful part of our economy.

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