Subaru Breaks Ground on Camden HQ

Subaru of America, Inc. broke ground this week on an all-new $118 million corporate headquarters in Camden, NJ, adjacent to Campbell Soup Company's world headquarters. The Subaru of America campus will be the first new corporate headquarters in Knights Crossing, a master plan urban town center community, being developed by Brandywine Realty Trust. The new facility, at 250,000 square feet, plus an additional building at 83,000 square feet will be more than double the size of its current headquarters building and will bring employees from four sites onto one campus; Subaru expects the development to be complete in 2017.

"We are delighted to contribute to the revitalization of Camden and look forward to Knights Crossing becoming a significant catalyst to the renaissance taking place in Camden," said Gerard Sweeney, president and chief executive officer of Brandywine Realty Trust. "We're especially honored to be developing this state-of-the-art campus for such a well-renowned and admired company as Subaru of America. Subaru's decision, coupled with the long-standing commitment by Campbell, provides an excellent platform for further economic development and job creation in the city of Camden."

Thomas Doll, president and chief operating officer of Subaru of America, added: "We are very excited to be moving this project forward as we seek to bring our family of employees together on one site. This signing cements the long-term future of Subaru in the Delaware Valley and we are pleased that, after almost 50 years here, we can plan to continue to be a part of the local community we have supported for so long."

"Today not only signifies a long-term commitment by Subaru to the region, but now to our city and, yes, to our residents," Camden Mayor Dana Redd said at the groundbreaking ceremony. "To say this is an incredible investment to our city and region is an understatement." Subaru announced the move a year ago, after the state Economic Development Authority awarded the company $118 million in tax incentives under the Economic Opportunity Act to move from its Cherry Hill location, about four miles away. The credits, spread over 10 years, are conditional on Subaru creating or saving at least 250 jobs in the city and remaining in Camden for at least 15 years. Video of the groundbreaking ceremony can be seen here. For more news and information visit Blumberg Partners.