GOVERNOR PHIL MURPHY ANNOUNCES NEW JERSEY'S AGREEMENT WITH ØRSTED TO MARSHAL THE OCEAN WIND PROJECT
New Jersey Governor Phil Murphy announced that the New Jersey Economic Development Authority (NJEDA) signed a Letter of Intent (LOI) with Ørsted Offshore North America for New Jersey’s first offshore wind project, Ocean Wind 1. Ørsted, the world’s largest developer of offshore wind, is partnering with PSEG on the Ocean Wind 1 project. The project’s 1,100 megawatts of power are enough to power 500,000 New Jersey homes.
The announcement, which was made during the Governor’s keynote address at the Business Network for Offshore Wind’s International Partnering Forum (IPF) in Atlantic City, delivers on the promise of the NJ Wind Port as a key infrastructure asset that will be an economic driver in Salem County and throughout the state. When the Ocean Wind 1 project was initially approved by the New Jersey Board of Public Utilities (NJBPU) in June of 2019, this approval was based on the project utilizing an existing out-of-state port to marshal the project. Following the state’s groundbreaking investment in developing the first purpose-built port for offshore wind in the United States, the project seized the opportunity to utilize the New Jersey Wind Port, being the first to officially join the state’s effort to develop the nation-leading wind power supply chain. This announcement is anticipated to create over 200 pre-assembly, load out, and stevedoring jobs in South Jersey, and hundreds of indirect jobs.
“The New Jersey Wind Port is a historic and catalytic investment. As a state, we’ve committed more than $500 million to build the essential infrastructure required to install offshore wind projects from our shores. This investment is enabling both clean energy projects and New Jersey’s long term economic growth,” said New Jersey Governor Phil Murphy. “Today’s announcement with Ørsted is proof that our strategy to establish New Jersey as a national leader in offshore wind is working, and brings us a step closer to achieving our goal of 100 percent clean energy by 2050.”
GOVERNOR MURPHY AND ACTING ATTORNEY GENERAL PLATKIN ANNOUNCE $10 MILLION INVESTMENT IN LICENSE PLATE RECOGNITION TECHNOLOGY TO COMBAT RISE IN AUTO THEFTS FUELING VIOLENT CRIME NEW JERSEY
Governor Phil Murphy and Acting Attorney General Matthew J. Platkin announced a $10 million investment in automated license plate recognition (ALPR) technology to reduce violent crime and motor vehicle theft in New Jersey through the federal American Rescue Plan (ARP) State Fiscal Recovery Fund.
The funds will be used to purchase and expand existing high-speed, automated camera systems to capture and store computer-readable images of license plates in a centralized database accessible to law enforcement. The technology will be installed at both fixed locations throughout New Jersey and mounted on mobile units. This equipment provides law enforcement agencies additional tools to address the increase in motor vehicle thefts and a corresponding rise in violent crime seen in both suburban and urban areas of New Jersey.
“The alarming uptick we are seeing in vehicle theft is unacceptable, and our administration is making investments to combat these occurrences statewide,” said Governor Murphy. “To aid law enforcement in this endeavor, an investment in ALPR technology will provide them with the tools they need to reduce these incidents and make our communities safer.”
“Thanks to Governor Murphy, we are investing significant resources to give law enforcement officers the tools they need to combat the rise in auto thefts across the state,” said Acting Attorney General Platkin. “Because stolen vehicles are increasingly used in the commission of violent shootings, deploying these automated license plate readers will save lives.”
MURPHY ADMINISTRATION ANNOUNCES NEARLY $12.8 MILLION IN ADDITIONAL FEDERAL FUNDING FOR HOME ENERGY ASSISTANCE PROGRAM
The Murphy Administration announced that New Jersey has received an additional $12.77 million in funding for the Low Income Home Energy Assistance Program (LIHEAP) program, which is administered by the New Jersey Department of Community Affairs. This is the second time the non-supplemental LIHEAP program received additional funding for the Federal Fiscal Year 2022.
“The Administration truly appreciates these additional funds and will utilize them to provide ongoing utility assistance to eligible families across the state,” said Acting Governor Sheila Oliver, who serves as DCA Commissioner. “We know that New Jerseyans continue to struggle to pay their utilities and this funding will go a long way in helping even more people in the coming months. Since eligibility requirements have been expanded to include higher income levels, we’re urging people to apply for assistance on our one-stop online portal, DCAid.”
NEW JERSEY'S $95 BILLION PENSION FUND UNVEILS EMERGING MANAGERS PROGRAM TO DIVERSIFY PORTFOLIO, BUILD THE NEXT GENERATION OF INVESTMENT TALENT
The Murphy Administration officially unveiled a new Emerging Managers initiative being launched by the Department of the Treasury’s Division of Investment in order to further diversify the private markets portfolio for the State of New Jersey’s roughly $95 billion pension fund, including the first proposed investment of up to $250 million under the new program.
“I applaud Treasury and the Division of Investment for putting the wheels in motion and casting a wider net to attract a broader range of diverse investment opportunities, including investment managers from underserved communities,” said Governor Phil Murphy. “We are essentially putting together a farm team to build up the next generation of talent - emerging managers who have the skills, but not necessarily the access, to make it to the major leagues.”
“This platform will enhance the pension fund’s exposure to a broader range of fund managers, including diverse fund managers,” said State Treasurer Elizabeth Maher Muoio. “The Division of Investment has a fiduciary duty to invest pension fund assets for the financial benefit of the fund’s beneficiaries – New Jersey’s hardworking public employees. I applaud the Division of Investment for identifying this unique opportunity, exploring it, and acting upon it.”
BeiGENE BREAKS GROUND ON NEW MANUFACTURING AND CLINICAL R&D CENTER AT THE PRINCETON WEST INNOVATION CAMPUS IN NEW JERSEY
BeiGene, Ltd., a global biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide, announced the groundbreaking of its flagship U.S. manufacturing and clinical R&D center at the Princeton West Innovation Campus in Hopewell, N.J.
“BeiGene’s plans for hundreds of new jobs in New Jersey speak to our efforts to grow our state’s business-friendly environment and to our commitment to fostering innovation,” said Governor Phil Murphy. “We are proud to welcome BeiGene to the Princeton area and look forward to the company manufacturing innovative cancer medicines in its new state-of-the-art facility.”
“Our planned flagship U.S. R&D and manufacturing center supports our commitment to fight for life for people living with cancer around the world, through state-of-the-art commercial-stage biologic pharmaceutical manufacturing, late-stage research and clinical development capabilities,” said John Oyler, Co-Founder, Chairman and CEO of BeiGene. “The Princeton-Hopewell area is an excellent location for BeiGene and the thriving life science community, with a deep talent pool as we continue to advance our pipeline of innovative cancer medicines and work to diversify our global supply chain.”