Trenton Corrugated Products Receives NJEDA Loan
Trenton Corrugated Products, 17 Chelton Way, Trenton 08638. 609-695-0860. Cheryl Bernstein, president. www.trentoncorrugated.com.
The Trenton-based cardboard box factory has received a $2.5 million loan as part of a New Jersey Economic Development Authority program. The loan, funded half by the NJEDA and half by M&T Bank, will allow the company to purchase its 160,000-square-foot building from the company’s previous owners.
A Mercer County mainstay since 1970, Trenton Corrugated Products has grown from a two-person venture into a thriving manufacturing business employing 35 people operating out of a warehouse in Hill Industrial Park. The company’s co-founders, Anthony and Helen Pecoraro, are retiring and recently sold the business to first-time entrepreneurs Ian and Cheryl Bernstein. The husband-and-wife team saw an opportunity to build on the established business’s success.
The financing was provided under NJEDA’s Premier Lender Program, through which the NJEDA works with more than two dozen banks throughout New Jersey to guarantee or participate in a portion of commercial loans or lines of credit. Businesses can use this financing for fixed assets or term working capital, and NJEDA’s involvement in the transaction provides lenders with greater flexibility by reducing their overall exposure.
“The advantage of working with small businesses such as Trenton Corrugated Products is that customers can expect high-quality service, well-crafted products, and personalized attention,” Bernstein said. “Thanks to M&T Bank and the NJEDA, we’ll be able to build upon the enterprise that Anthony and Helen started nearly a half-century ago.”
The company expects to hire 10 new employees.
Business Action Center Launches New Program Guide
The state Business Action Center, which helps businesses work with the government, has created a guide to the state’s various assistance and incentive programs.
The latest update to the NJBAC website, the Business Assistance and Incentive Programs page, allows business owners to explore a wide range of topics, including small and mid-sized business assistance programs; emerging technology and life science assistance programs; job creation and retention incentive programs; Urban Enterprise Zone programs; Main Street New Jersey; Renewable energy; and real estate programs.
“Part of the center’s mission is to make information about starting and growing a business in the Garden State readily accessible to main street businesses, the largest corporations and every business in between,” said NJBAC Executive Director Melanie Willoughby. “We pride ourselves on responding to clients within 24 hours, if the questions they have require additional research.”
For more information, call 1-800-JERSEY-7 or visit nj.gov/state/bac.
Commercial Real Estate Move
Sirius Group has leased 4,000 square feet of space at 21 Roszel Road, bringing the 62,500-square-foot office building to full occupancy. The building is one of several joint ventures between Mountain Development Corp. and Gottesman Real Estate Partners.
Built in 2015, 21 Roszel Road includes an outdoor plaza, an on-site cafe, and a fitness center. The co-tenancy includes law firm Hill Wallack, which occupies 48,000 square feet on the top two floors, and Ripen e-commerce, which occupies 9,200 square feet on the first floor.
“The Princeton/West Windsor market is one of the few in New Jersey that offers tenants the opportunity to move into brand-new, build-to-suit space for exactly the same rental rate that they would pay for older, less-contemporary, second-generation offices,” said Michael Seeve, MDC president.
The venture is looking to secure a tenant of at least 10,000 square feet to anchor 19 Roszel Road, which will total about 38,000 square feet when complete. The company says the building could be done within 10 months once a tenant is found.
NJM Insurance Group, 301 Sullivan Way, West Trenton 08628. 609-883-1300. Mitch Livingston, president. www.njm.com.
NJM Insurance Group public affairs director John Hardiman has been selected to chair the Children in Autonomous Vehicles Consortium’s Public Information & Education Working Group. The group, organized by the Safe Kids Worldwide nonprofit group, will provide guidance to those who are developing regulations, legislation, policies, and best practices around autonomous vehicles.
The consortium plans to organize a joint effort between leading traffic safety advocates, researchers, academia, injury prevention, and other experts to ensure the safety of children in the evolving field autonomous vehicles.
“NJM’s dedication to safety dates back to its founding more than 106 years ago,” said Tracy McManimon, NJM’s senior vice president and chief underwriting officer. “Today it includes a nationally recognized teen driver safety program and a continuing commitment to reducing injuries in the workplace. John has been leading our driver safety efforts for nearly a decade, and we’re happy for the chance to lend our resources in support of such a worthy cause.”
AVs are already being tested on roads in more than two dozen communities nationwide. The Public Information & Education Working Group is charged with influencing the development of standardized messaging and use of consistent language as new information and education informs front-line, grassroots communicators — such as child passenger safety technicians, first responders, and law enforcement officers — on the features and safety issues relevant to AVs and child occupants.
“While we don’t yet know when autonomous vehicles will be widely available, we know it’s a matter of when, not if,” said Hardiman. “It’s important to lay the groundwork for AV safety now, particularly for the most vulnerable passengers. I look forward to leading these important discussions as we move closer to the reality of AVs and playing a role on behalf of NJM in helping to keep children safe in them.”
A 25-year employee at NJM, Hardiman currently serves on the boards of directors of the Advocates for Highway and Auto Safety, the Insurance Institute for Highway Safety, and the Highway Loss Data Institute.
Karen Smith Dwyer, 74, on May 18. With her husband, Jim, she co-owned Dwyer’s Stationers in Trenton and Ewing. After selling the business in 2004 she worked at the Bank of Princeton.
Martin Howard Cseh, 82, on May 17. He was a computer programmer with the State of New Jersey, Princeton University, and Sun Company.
Norman Glickman, 76, on May 8. He was a retired professor at the Rutgers University Edward J. Bloustein School of Planning and Public Policy. He also directed the Rutgers University Center for Urban Policy Research for more than a decade.
David A. Williamson, 72, on May 10. He formerly owned the Celebrity Room Tavern in Trenton and also worked as a salesman for Palmer-Trout in Trenton.