AGP Executive Report

Life Sciences: Warren-based Aquestive Therapeutics has moved its R&D operations into a 5,000-square-foot lab at New Brunswick’s HELIX complex, joining the city’s growing life-sciences hub. The company is developing oral-film drug delivery technology, and the FDA has set a March 2027 review date for its allergy treatment Anaphylm. Real Estate & Logistics: Rutgers is launching a real estate bachelor’s degree, with the first graduates expected in 2028. Meanwhile, a 343,000-square-foot logistics facility in South Brunswick has changed hands, and Amazing Savings has signed a 173,475-square-foot industrial lease in Mine Hill. Small Business: A new Saddle Brook-based fund plans to expand its portfolio of home-service companies from five to 20 by the end of 2027, targeting trades including HVAC, plumbing and roofing. Agriculture: New Jersey has lifted most of its South Jersey drought warning, but farmers are still coping with crop losses and financial strain. Energy: A federal emergency order over Mid-Atlantic grid constraints has renewed attention to reliability and affordability, as PJM-state governors coordinate on energy costs.

Health Costs: New Jersey’s finalized 2027 individual-market insurance rates bring double-digit increases, with shoppers facing hikes of nearly 20% as medical and prescription costs climb and enhanced federal tax credits expire. Power and Grid: A federal emergency order targeting blackout risks across 13 states puts Mid-Atlantic grid reliability in focus; separately, the state utility board found all four electric utilities’ PJM voting reports incomplete. Industrial Real Estate: A 343,000-square-foot logistics facility in South Brunswick changed hands, while Amazing Savings signed a 173,475-square-foot industrial lease in Mine Hill, underscoring continued demand for warehouse space. Innovation: Seventeen startups have been selected for the second cohort of the NJ AI Hub accelerator, backing the state’s growing technology sector. Clean Energy: New Jersey has cleared 1,200-watt plug-in solar systems, opening another option for homeowners seeking to generate power.

Industrial Real Estate: Discount retailer Amazing Savings signed a 173,475-square-foot lease at the new Spring Brook Commerce Center in Mine Hill, adding a major tenant to Northern New Jersey’s industrial market. Local Mobility: Lakewood is seeking $3.4 million a year in state business-district funds to expand its shuttle service and ease congestion; the proposal still needs state approval. Energy & Development: A federal emergency order aims to prevent blackouts across the Mid-Atlantic as New Jersey regulators flag incomplete PJM voting reports from all four electric utilities. Meanwhile, NJDEP extended public comment on data centers amid local opposition to a proposed $1.8 billion project. Water & Environment: PFAS detections in New Jersey waterways and tap and bottled water are raising fresh concerns for utilities and regulators. Retail & Infrastructure: ShopRite opened at Jersey City’s Hudson Exchange Place, while a planned $400 million third lane on the Atlantic City Expressway would bring a major expansion to a key South Jersey route.

Energy Reliability: A federal emergency order through Oct. 16 lets PJM use backup generation amid warm weather and planned outages. NJBPU says all four state electric utilities still filed incomplete records of their PJM votes, limiting public insight into decisions affecting costs and reliability. Water Quality: PFAS were found in 91% of New Jersey waterways sampled from 2022 to 2024, including rural and urban areas. Corporate Moves: Burlington Stores plans to move its headquarters from New Jersey to Philadelphia, where it expects to add about 2,000 jobs over five years. Construction: Newark’s $173 million University High School project is moving ahead, with site preparation expected to continue into early 2027. Transportation: New bus routes into Manhattan are bringing the prospect of years of delays as the Port Authority advances its $11 billion terminal rebuild.

Retail Expansion: Mahwah-based Inserra Supermarkets opened an 85,000-square-foot ShopRite in Jersey City’s Hudson Exchange, replacing its smaller Metro Plaza store. Business Growth: Summit Access & Security acquired Jersey City’s family-run Monaco Lock Company, adding a locksmith and commercial security operation with more than 55 years of history. Energy & Data Centers: A federal emergency order gave PJM extra tools to manage tight electricity supplies across New Jersey and 12 other states through Oct. 16; officials said blackouts were not imminent. Meanwhile, NJDEP extended public comment on data center rules to Nov. 9 amid local opposition to a proposed project. Cleanup Technology: The Army Corps is testing a drone-mounted detector at the Chambers Works cleanup site in Deepwater, aiming to map buried radioactive contamination more safely across difficult terrain. Business Regulation: New Jersey enacted laws governing algorithmic pricing and consumer cost protections, adding new requirements for businesses that use automated pricing.

Energy Reliability: A federal emergency order lets PJM call on additional generation, including data-center backup power, to guard against blackouts across its 13-state grid, which includes New Jersey. PJM cited warm weather, high demand and plant maintenance. Data Center Debate: Kenilworth residents are protesting CoreWeave’s planned $1.8 billion AI data center, raising concerns about power and water use, noise and pollution as construction proceeds. Agriculture & Research: Rutgers’ 390-acre Snyder Farm in Pittstown serves as an outdoor research lab, testing and demonstrating agricultural technology for farmers in Hunterdon and nearby counties. Retail & Development: ShopRite plans an 85,000-square-foot Jersey City store, while Advance Realty has started building 19,240 square feet of retail space in Bedminster, with completion targeted for 2027. Transportation: Five weeks of Portal Bridge work will disrupt NJ Transit service, creating delays for commuters traveling to and from New York.

Energy Costs: A new poll finds 70% of New Jersey voters consider their electric bills unreasonable, with more blaming utilities than politicians; about half support lowering utility profits on infrastructure investments. Manufacturing: Montvale-based Marotta Controls won a roughly three-year General Dynamics Electric Boat contract to design and manufacture flow-control systems for Virginia-class submarines. Transportation: NJ Transit riders face five weeks of service changes as Portal North Bridge work disrupts trips to New York, while a $400 million Atlantic City Expressway widening is set to break ground Oct. 14. Construction: Kurv is moving ahead with a 471,231-square-foot industrial project in Perth Amboy. Water Infrastructure: Veolia completed a $58 million wastewater treatment facility replacement in Plainsboro. Workforce Rules: New Jersey’s worker-classification regulations are now in effect, putting new compliance requirements on employers.

Transit: NJ Transit’s five-week Portal North Bridge cutover is limiting trains between Newark and Secaucus, ending some direct trips to New York and disrupting service through Nov. 15. Road Investment: A $400 million Atlantic City Expressway widening is set to break ground Oct. 14. Airport & Aviation: American Express has expanded plans for a Newark Liberty lounge to more than 30,000 square feet; it is now expected to open in 2027. Meanwhile, AOPA met with Gov. Sherrill’s office as Aeroflex-Andover tenants face eviction by year-end. Industrial Growth: Kurv is underway on a 471,231-square-foot industrial project in Perth Amboy. Business Rules: New Jersey’s worker-classification regulations have taken effect, bringing new compliance obligations for employers. Energy Costs: Sherrill joined a bipartisan governors’ effort to coordinate action on electricity affordability across the PJM region.

Food Manufacturing: Private equity firm Stride Consumer Partners acquired Clio, whose New Jersey plant expects to produce more than 150 million Greek yogurt bars this year. The brand has more than quadrupled revenue since 2021 and sells in about 60,000 stores. Rail Infrastructure: NJ Transit riders face five weeks of weekday schedule changes as crews complete the Portal North Bridge cutover. Many Midtown Direct trains will divert to Hoboken, while work reduces service on the Northeast Corridor. Newark Airport: American Express expanded its planned Terminal A Centurion Lounge to more than 30,000 square feet, making it the largest in its network when it opens in 2027. Maritime Technology: Monroe-based Ocean Power Technologies’ compact solar-and-wind PowerBuoy was selected for a U.S. government operational evaluation; the selection is not a contract award. Housing: New Jersey had one of the nation’s lowest renter mobility rates in 2024, at 15.5%, according to Census data.

Business Expansion: South Korean beauty-AI firm VUSSENS established its North American headquarters in Fort Lee and launched an analytics platform for beauty brands and retailers. Transportation: NJ Transit riders face five weeks of schedule changes as crews shift trains onto the new Portal North Bridge, a $2.3 billion project intended to ease a major Northeast Corridor bottleneck. Energy & Utilities: New Jersey joined a PJM governors’ effort to curb electricity costs as Google and Constellation pursue a 20-year nuclear-power deal that includes plants in the state. Life Sciences: A biopharmaceutical company broke ground in Hamilton, while SK Biopharmaceuticals hosted U.S. industry and academic experts in New Jersey to discuss drug development and commercialization. Infrastructure: Veolia completed a $58 million wastewater treatment facility in Plainsboro, and Guardian Data opened a 42,000-square-foot data center in Moonachie.

E-Bike Rules: New Jersey’s expanded licensing and registration requirements are drawing criticism from riders, bicycle shops and advocacy groups, who say the safety-focused law creates new burdens. Biopharma: Rahway-based Merck reported one-year trial results for an investigational diabetic eye-disease treatment; both doses met the study’s standard for non-inferiority to monthly ranibizumab. Household Costs: A Rutgers-Eagleton poll found 77% of residents rate the state economy poor or fair, with housing, transportation, groceries and utilities weighing on budgets. Data Centers: Kenilworth residents are protesting a $1.8 billion facility under construction, citing concerns about power and water use, pollution and noise. Energy Costs: Gov. Mikie Sherrill joined a bipartisan governors’ effort to coordinate action on electricity affordability across the PJM grid region. Workforce: New Jersey’s labor department announced $6 million to expand earn-while-you-learn job opportunities.

Cost Pressures: A Rutgers-Eagleton poll found 77% of New Jersey residents rate the economy poor or fair; at least 61% struggle with major costs, including housing, utilities, groceries and transportation. Data Center Debate: Kenilworth residents are protesting a $1.8 billion CoreWeave project, citing concerns over power and water use, pollution and noise. Energy Costs: Gov. Mikie Sherrill joined a multistate PJM effort to coordinate action on electricity affordability. Infrastructure: The first boring machine has started work on the Hudson Tunnel Project, a major step for a critical rail link between New Jersey and New York. Workforce: The state Labor Department announced $6 million to expand earn-while-you-learn job opportunities. Water Systems: Veolia completed a $58 million wastewater plant in Plainsboro.

Consumer Protection: A New Jersey gas station owner agreed to pay $17,500 after Ocean County investigators found pump prices did not match what customers were charged. Transportation: Monmouth County selected a fixed Oceanic Bridge design with 65 feet of clearance, while the first boring machine has started work on the Hudson Tunnel Project. Energy: Gov. Mikie Sherrill joined a multistate PJM governors’ effort to address electricity costs, alongside a capacity agreement to coordinate action across the region. Water Infrastructure: Veolia completed a $58 million wastewater plant replacement in Plainsboro. Workforce Development: The state Labor Department announced $6 million to expand earn-while-you-learn job opportunities.

Energy Costs: Gov. Mikie Sherrill joined a multistate PJM governors’ effort to coordinate action on electricity affordability, as pressure mounts over rising power bills. Water Infrastructure: Veolia completed a $58 million wastewater treatment plant replacement in Plainsboro. Workforce: New Jersey’s labor department announced $6 million to expand earn-while-you-learn job opportunities. Major Projects: The first boring machine has started work on the Hudson Tunnel project, while Bergen New Bridge broke ground on a $45 million multigenerational care center. Trade and Logistics: A fake freight broker allegedly diverted a $273,000 seafood shipment in a New Jersey cargo-theft attempt. Business Support: Central Jersey grower Edible Garden received preliminary approval to sell tax credits through an NJEDA program. Cape May Investment: The Coast Guard awarded a $400 million contract to modernize its training center in Cape May.

Industrial Technology: Fairfield-based TOPDON USA introduced inspection scopes for automotive, HVAC and plumbing technicians. In Hainesport, Perry Products continues making custom heat exchangers for industrial customers. Freight & Ports: North Arlington police stopped an attempted theft of nearly 29,000 pounds of seafood worth $273,000 after a fake broker redirected the driver. U.S. port imports are easing after an extended peak season, with 2026 volume forecast to rise 1.4% year over year. Commercial Property: Union’s Titan Union development, with 43 apartments and 25,507 square feet of commercial space, is headed to auction in separate parcels. Infrastructure: Veolia completed its $58 million Princeton Meadows wastewater facility, while a 42,000-square-foot data center opened in Moonachie and Greenlight Networks continues its New Jersey fiber expansion. Local Business: Toms River’s Prestige Auto Spa reports nearly $1 million in upgrades since 2021 and expansion into Wayne. Agriculture: New Jersey farmers are seeking freeze relief, and Camden County’s vineyard reported its largest grape harvest yet.

Manufacturing: Franklin Lakes-based BD plans $19 billion in U.S. investment, including $3 billion to expand manufacturing and raise domestic production of medical supplies. Water Infrastructure: Veolia completed a $58 million wastewater plant replacement in Plainsboro, moving the facility out of a floodplain and adding treatment and energy-efficiency upgrades. Sports Betting: The NFL backed New Jersey’s request for Supreme Court review of whether states can regulate sports prediction markets, arguing the contracts pose consumer and game-integrity risks. Technology: A 42,000-square-foot data center opened in Moonachie, while New Brunswick is developing a biotech ecosystem around the NJ Innovation Hub. Agriculture: New Jersey farmers are still counting losses from the spring freeze, which caused an estimated $300 million in crop damage; a South Jersey campaign is urging residents to support local farms and wineries.