In the eight plus years since its inception, RCTC has mentored well over 60 emerging companies. Fourteen of our client companies have “graduated,” outgrowing the space available and moving on to bigger quarters. These client companies have also received more than $35 million in almost exclusively private sector investments from venture capital, angel, bank, and other sources. All but three of these companies have remained in New Jersey, but only three have been able to stay in Camden because of the lack of available commercial space. The in-state companies now have a total of more than 160 employees, and their estimated annual payroll is in excess of $8 million.
RCTC has been and continues to be a significant engine for job growth and development. Economic impact analysis of current tenants and “graduates” shows that RCTC has been instrumental in attracting and retaining more than 400 new jobs that contribute in excess of $20 million in annual payroll to our region.
Currently, several incubator client businesses are growing rapidly and are looking for relocation space. As more commercial real estate locations are identified and/or developed within Camden, RCTC will continue to move toward the goal of keeping our “graduate” businesses in the City.