Public Service Electric and Gas on Monday released details of a $55 million plan to prepare for new businesses opening shop in Camden.
The utility company said in a news release that they are making a number of infrastructure improvements to increase the flow of gas and electricity to accommodate companies planning moves to Camden over the next couple of years.
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The Newark-based PSE&G said it will implement higher capacity electric transformers and new distribution lines at the Locus Street substation, relocate existing gas facilities and add 3,000 feet of new gas main lines in adjacent communities.
Planned development in Camden includes a Philadelphia 76ers practice facility, a Rutgers University School of Nursing building and new headquarters for Subaru, American Water Works and Holtec International.
Businesses have been lured to the city through tax incentives aimed at relocating employees to the city.
“As your local utility, we’re committed to partner with the city and play an important role in your successful efforts to recruit new businesses to what has become a strategic business location," PSE&G president and COO Ralph LaRossa said in a statement. "We have a team of employees dedicated to ensuring that these businesses have the safe, highly reliable electric and gas service they depend on.”
A spokesperson for PSE&G said the upgrades are expected to be finished by the end of 2017.
George E. Norcross III, the father of PhillyVoice Executive Director Lexie Norcross, is a principal investor in a development project planned for the Camden waterfront.