Fairleigh Dickinson University and Citi Foundation Partner with Woodbridge Township to Develop GreenTechnology Park & IncubatorWoodbridge, NJ (November 9, 2009) — Fairleigh Dickinson University and the Citi Foundation are pleased to partner with Woodbridge Township in its redevelopment of a Brownfield site to create the Pennval Road Green Technology Park. TheGreen Technology Park, which is located on 107 acres in Woodbridge Township, is designed to promote the start-up and production of clean energy technologies, sustainable energy sources, green research and development, and environmental manufacturing and construction.
The Pennval Road Green Technology Park will feature a Green Business Incubator, which will foster new and emerging companies with technology directly related to the environmental sector. Sustainable construction technologies will be employed for the park’s physical facilities. Building the park is a means of attracting economic development and encouraging job growth in the Township and surrounding region. Companies that utilize the Green Business Incubator will have the opportunity to locate their manufacturing on other sites in the park, creating jobs focused on fostering a clean energy and technology business cluster in the Township.
Fairleigh Dickinson University will serve as a key “green initiative” advisor lending its expertise to facilitate several aspects of the project, including ecological restoration of the site, the establishment of the Green Business Incubator, and the establishment of clean energy capabilities at the site. FDU will also assist in helping to raise funds for the development of the park.
“Fairleigh Dickinson University considers it part of its mission to offer educational, advisory, and service programs to a wide range of organizations, communities, and individuals that are consistent with the goals of sustainability and environmental enhancement,” said university president Dr. J. Michael Adams. “The Pennval Road Green Technology Park clearly offers an opportunity to fulfill these goals.”
The Citi Foundation has pledged $15,000 to the project as part of its relationship with Fairleigh Dickinson University’s Institute for Sustainable Enterprise. Issues of sustainability are a priority for us so the Citi Foundation is pleased to support the Institute for Sustainable Enterprise at Fairleigh Dickinson University with a grant for pre-development of the GreenTechnology Park in Woodbridge," said Thomas Sebok, Citi Area Director, Executive Vice President for Citibank in South Jersey. "We look forward to seeing the Park create all-important green jobs and foster green technologies."
Woodbridge Mayor John E. McCormac noted that the partnership with FDU and the Citi Foundation stands as a milestone for the future development of the first green technology park and business incubator in the state. “Woodbridge Township has methodically developed plans for the future by implementing innovative, cost-effective, sustainable, environmentally-friendly and energy efficient programs and initiatives geared to provide long-term ‘green’ benefits to the region,” said Mayor McCormac. “The Green Technology Park at the Pennval Road redevelopment site stands as the perfect example of a sustainable initiative that achieves multiple goals – redevelopment, increased ratables, sustainable growth and environmental protection.”
Mayor McCormac noted that Congressman Leonard Lance secured $250,000 in funding from the U.S. House of Representative to help launch the Green Technology Park and that the project previously garnered support from key state, county and municipal agencies, corporations and businesses, educational institutions, environmental groups and community associations, such as the Woodbridge Township Municipal Council, the Mayor’s Environmental Commission, the Woodbridge Township School District, the Woodbridge River Watch Committee, the Woodbridge Economic Development Corporation, and various business, environmental, community and private sector groups and associations.
About Fairleigh Dickinson University
Fairleigh Dickinson University, the largest private university in New Jersey, has two uniquely different campuses — The College at Florham in Madison, NJ, and The Metropolitan Campus in Teaneck, NJ, — offering doctoral, master’s, bachelor’s and associate degrees. The university has a campus in Wroxton, England, and Vancouver, British Columbia. It also has affiliations and partnerships with numerous institutions throughout the world. Dedicated to the preparation of global citizens through global education, the University features more than 100 degree programs. It was the first traditional university to require that all undergraduate students take one distance-learning course per year.
About FDU’s Institute for Sustainable Enterprise
Fairleigh Dickinson University’s Institute for Sustainable Enterprise was founded in the Silberman College of Business in 2005. Its mission is to bring people together to learn how to develop and lead thriving, sustainable enterprises that are “in and for the world.” Focusing on the critical role that businesses and other organizations play in creating and enhancing societal, economic, and environmental sustainability in a global business context, the ISE strives to stimulate dialogue and thought that will lead to ideas of how to create more sustainable business and help leaders to lead sustainably.
About the Citi Foundation:
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. The Citi Foundation is committed to the economic empowerment of individuals and families, particularly those in need, in the communities where we work so that they can improve their standard of living. Globally, the Citi Foundation targets its strategic giving on its priority focus areas: Microfinance and Microenterprise, Small and Growing Businesses, Education, and Financial Education and Asset Building. In the United States and Canada, the Citi Foundation also supports Community Development programs. The Citi Foundation works with its partners in Microfinance and Microenterprise, Small and Growing Businesses, and Community Development to support environmental programs and innovations. Additional information can be found at www.citifoundation.com.