NJ News You Need to Know
are going for $808 for a one-bed- ing a drug for Alzheimer’s disease.
room and $967 for a two-bedroom, Memory makes drugs for diseases
Core180 Gets $2.5M
Conifer said. of the central nervous system, such For Its Growth Plan
The project, which cost $30 as Alzheimer’s and schizophrenia.
million, received $9.5 million in per- Roche said it would pay 61 HOBOKEN — Telecommunications Survey: 1 in 5 N.J. Firms Will Shrink Payrolls
manent financing with private equi- cents a share for Memory, which network integrator Core180, based Few New Jersey companies plan to hire additional workers in 2009,
ty generated through federal Low lost no time shooting up 300 per- in the city, says it secured $2.5 mil- and one in five say they will shrink their payrolls, according to the
Income Housing Tax Credits; $7.8 cent from previous levels of lion in financing through a line of results of the 2009 Business Outlook Survey by the New Jersey
million from the state Department around 15 cents to 60 cents on credit with Silicon Valley Bank in Business & Industry Association.
of Community Affairs’ Home Nov. 25. Nearly 30 percent of Santa Clara, Calif. Core180 says it will NJBIA, a Trenton-based business advocacy group, released the
Express Program and Balanced Memory’s shareholders, including use the funding to further the growth results last week. Only 17 percent of companies said they expect to
Housing funds; and $11 million in directors and officers, have agreed of its operations, which include increase their number of workers in 2009 — a 3 percent drop from last
construction and permanent to sell their shares to Roche, the managing last-mile access to voice year’s survey and the second-lowest level of the past 28 years. Only the
financing loans from the state latter stated. and data networks for businesses. 1991 survey produced a more negative employment outlook.
Housing and Mortgage Finance Memory, in partnership with Core180 has operations in Employers reported a sharp drop in sales, profits and
Agency, according to the DCA. Roche, already has two drugs Fairfax, Va., and its clients include employment over the past year, and 69 percent of respondents said
The complex is located in Mid- in development. One, for Alzheimer’s the military and federal agencies. their industries were in a recession or heading into one when the
dletown, but has an Atlantic High- and schizophrenia, is in Phase II clin- Core180 also partners with com- survey was conducted in September. “Our survey indicates that New
lands mailing address. – Evelyn Lee