Over $250 Million Economic Impact Spurred by Salem and Gloucester County Nonprofit Community Developers

Statewide community development association releases new local economic impact report

6/3/2016

Local officials and Salem residents joined Stand Up for Salem to mark the grand opening of the Salem City Market and celebrated the release of the Salem and Gloucester County Stronger Together report, a study on the economic impact area nonprofit community developers have made in Salem and Gloucester Counties.

Nonprofit community development corporations (CDCs) in Salem and Gloucester Counties have contributed over $250 million dollars for New Jersey’s economy according to a report released this week from the Housing and Community Development Network of New Jersey (the Network). The report is a supplement to Stronger Together: The $12 Billion Impact of Community Corporations in New Jersey, a study highlighting the investments made by the sector since 1989 and the resulting impact on the state’s communities.

“The nonprofit community development sector has been a strong contributor to the area and the state’s economy, making investments that have improved the quality of our neighborhoods as well as produce homes and jobs,” said Staci Berger, president and chief executive officer of the Network. “These mission-driven organizations are creating opportunities for thousands of New Jersey residents while generating much needed tax revenue for these counties and all of New Jersey.”

According to the new report, Salem and Gloucester County nonprofit CDCs have completed 27 developments which have spurred 1,900 jobs and $105 million in labor income in the last 25 years.

“We’re honored to help put a spotlight on the wonderful projects of community development non-profits by hosting the release of the Salem and Gloucester County Stronger Together reports today,” said Helene Pierson, director of community development and chief financial officer of Stand Up for Salem. “We all serve areas that have faced challenging economic conditions, and we advocate to make sure that investments are made to improve the quality of life for our residents. The more those contributions can be recognized, the better the hope for a brighter future.”

The report which features Salem and Gloucester County employment, housing, and demographic data was unveiled at the grand opening of the Salem City Market hosted by Stand Up for Salem in Salem City. Chris Davenport, executive director for Stand Up for Salem along with members of the Salem City Council and other local officials, area community developers, as well as faith-based and other local nonprofit organizations were on hand during for the release of the report.

To access Stronger Together: The $12 Billion Impact of Community Corporations in New Jersey and the Salem and Gloucester supplemental reports, visit http://www.hcdnnj.org/StrongerTogether.

About the Housing and Community Development Network of NJ
The Housing and Community Development Network of New Jersey is the statewide association of more than 250 community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities, and strong communities. For more information on the Network, visit www.hcdnnj.org.