Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GLASSBORO, NJ-Rowan University has received a $6-million grant from the New Jersey Economic Development Authority as the first step toward development of the South Jersey Technology Center. The money comes on top of $6 million already allocated in the state’s 2000-2001 budget for development of the project by Rowan, a state-supported university.

The project is the first of what could be as many as seven tech parks planned throughout Southern New Jersey, which has traditionally lagged behind the Central and Northern parts of the Garden State in terms of economic development. South Jersey Technology Center is planned to be a focal point of high-tech product development and commercialization by allowing companies and Rowan faculty and students to interact and conduct more federal- and state-funded research projects. The school’s engineering, business and science colleges and departments are expected to be heavily involved in the project’s mission.

Job creation and development of new companies is the ultimate goal. “A state university has an obligation to take a leadership role in economic development,” explains Rowan president Dr. Donald Farish. “We want to fulfill that obligation, and the Technology Center will be instrumental in helping us do so.”

As far as the EDA funding, “it recognizes our academic expertise and potential to be an economic growth engine for the region,” adds Dr. Philip Tumminia, executive vice president for university advancement. “Government and industry leaders in the region have provided their support for this project.”

The university plans to develop the project on a 50-acre site that it recently acquired just outside of Glassboro in Manuta, NJ. Glassboro is located about 25 miles south of Philadelphia. The first phase will be a 25,000-sf building that will cost upwards of $20 million. Rowan is looking to partner with corporations in the region to help make up the difference between the state funding and the total cost.

The initial structure is expected to be ready by late 2002. While total projected costs haven’t been disclosed, university officials are planning a build-out of four buildings totaling 560,000 sf. The site will be designed for further expansion beyond that, at some point down the road.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.