New Jersey American Water Awards $950,000 for Community Development Projects in Camden

Rhea-AI Summary

American Water (NYSE: AWK), through New Jersey American Water, and the New Jersey Department of Community Affairs awarded a combined $950,000 in Neighborhood Revitalization Tax Credit Program funding to two Camden nonprofits: $800,000 to Parkside Business & Community in Partnership and $150,000 to Heart of Camden.

According to New Jersey American Water, this builds on about $13.4 million in NRTC support since 2010, including roughly $11.5 million for Camden projects, reinforcing its long-term role in Camden community revitalization.

News Explained

The awards add project-level Camden uses and operate through a state tax-credit program supporting resident-led nonprofit plans.

New Jersey American Water says the $950,000 awards are designated for specified Camden projects: PBCIP's allocation supports affordable housing and commercial revitalization, while Heart of Camden's supports redevelopment of the historic Olsen Building and a future neighborhood grocery market.

The Neighborhood Revitalization Tax Credit Program enables businesses to apply state tax credits toward investments in nonprofits carrying out resident-driven, DCA-approved neighborhood plans.

Market Context

PPL was down -0.8037225343286991% in the current momentum scan. Against AWK's recent news reactions ...

Analysis

PPL was down -0.8037225343286991% in the current momentum scan. Against AWK's recent news reactions ranging from -2.14% to 0.49%, this grant is best evaluated as a community-investment update rather than an earnings catalyst.

Key Figures

Combined funding: $950,000 PBCIP funding: $800,000 Heart of Camden funding: $150,000 +5 more

8 metrics

Combined funding $950,000 Two Camden nonprofits

PBCIP funding $800,000 Neighborhood Revitalization Tax Credit Program

Heart of Camden funding $150,000 Neighborhood Revitalization Tax Credit Program

PBCIP cumulative funding More than $2.3 million Since 2020

Heart of Camden cumulative funding More than $600,000 Since 2022

Statewide NRTC funding Approximately $13.4 million Since 2010

Camden NRTC funding Approximately $11.5 million Since 2010

East Camden service history More than 130 years New Jersey American Water service

Historical Context

5 past events · Latest: Aug 06 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 06	Community services update	Positive	+0.5%	140-year service milestone and planned Illinois infrastructure investment preceded a 0.49% reaction.
Aug 05	Operational recognition	Positive	+0.1%	Kentucky treatment plant received an operational excellence award, preceding a 0.11% reaction.
Aug 03	Community grant program	Positive	-2.1%	Missouri firefighter grant applications opened before AWK recorded a -2.14% reaction.
Jul 31	Customer assistance update	Positive	-1.9%	Expanded income-based discounts for Illinois households preceded a -1.93% reaction.
Jul 30	Workforce development update	Positive	-1.9%	Illinois workforce initiatives supporting utility careers preceded a -1.93% reaction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

AWK's recent positive community and service news showed mixed follow-through, with two aligned reactions and three divergences.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Funding awarded through New Jersey's Neighborhood Revitalization Tax Credit Program

CAMDEN, N.J., Aug. 10, 2026 /PRNewswire/ -- New Jersey American Water and the New Jersey Department of Community Affairs announced that two nonprofits in Camden — Heart of Camden and Parkside Business & Community in Partnership (PBCIP) — received a combined $950,000 through the Neighborhood Revitalization Tax Credit Program.

$800,000 to Parkside Business & Community in Partnership (PBCIP): Founded 30 years ago and led by Parkside residents, PBCIP is a community development corporation working to further develop the Parkside neighborhood through commercial revitalization, affordable housing, and quality-of-life programs.

"We are profoundly grateful to both New Jersey American Water and the New Jersey Department of Community Affairs for their confidence in our work and their shared commitment to advancing equitable outcomes," said Bridget Phifer, chief executive officer of PBCIP. "This investment will accelerate key initiatives, expand our reach, and position PBCIP to deliver even greater impact across the Parkside community and city of Camden."

The funding builds on New Jersey American Water's long-standing support of Parkside revitalization efforts. Since 2020, the company has invested more than $2.3 million through the Neighborhood Revitalization Tax Credit program to support PBCIP's work advancing affordable housing, commercial revitalization, and economic opportunity. Recent investments have helped advance projects such as the Hardy Homes townhome development, which is expanding homeownership opportunities and strengthening the Parkside neighborhood.

$150,000 to Heart of Camden: For over four decades, Heart of Camden has worked to enhance the quality of life in the Waterfront South neighborhood through housing restoration, economic expansion, and community development programs.

"We are deeply grateful to New Jersey American Water and the Neighborhood Revitalization Tax Credit Program for recognizing the potential of Waterfront South and investing in its future," said Carlos Morales, executive director of Heart of Camden. "For more than four decades, Heart of Camden has worked alongside residents to strengthen the neighborhood through affordable housing, family support, arts and culture, and community development. This investment helps us continue building forward while ensuring that residents remain at the center of that progress."

The funding also supports continued progress in Waterfront South, including work tied to the redevelopment of the historic Olsen Building at 1811 Broadway and a revitalized future neighborhood grocery market at 526 Ferry Avenue. Part of Heart of Camden's broader Broadway Gateway initiative, the project will create new arts, retail and community spaces while preserving a historic neighborhood landmark. Since 2022, New Jersey American Water has provided more than $600,000 in NRTC funding to support Heart of Camden's Waterfront South revitalization efforts.

This investment builds on approximately $13.4 million that New Jersey American Water has awarded through the Neighborhood Revitalization Tax Credit Program since 2010 to support community initiatives across the state, including approximately $11.5 million for projects in Camden. New Jersey American Water has provided water service in East Camden for more than 130 years, while American Water Contract Services has operated the rest of the city's water system and its entire wastewater system since 2016.

"Camden is home to New Jersey American Water, and we are proud to recognize two outstanding organizations making a difference in our backyard," said Mark McDonough, president of New Jersey American Water. "PBCIP and Heart of Camden have long track records of delivering for their communities, and we are honored to support their critical work."

Administered by the New Jersey Department of Community Affairs, the Neighborhood Revitalization Tax Credit Program enables businesses to apply state tax credits toward investments in nonprofit organizations leading neighborhood revitalization efforts guided by resident-driven, DCA-approved plans.

About New Jersey American Water
New Jersey American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 3 million people. For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.   

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-jersey-american-water-awards-950-000-for-community-development-projects-in-camden-302847280.html

SOURCE American Water

FAQ

How much NRTC funding did New Jersey American Water award in Camden on August 10, 2026 (NYSE: AWK)?

New Jersey American Water directed a total of $950,000 in Neighborhood Revitalization Tax Credit funding to two Camden nonprofits. According to New Jersey American Water, Parkside Business & Community in Partnership received $800,000, while Heart of Camden received $150,000 for neighborhood revitalization projects.

Which Camden organizations received New Jersey American Water’s $950,000 in 2026 NRTC awards (AWK)?

The 2026 NRTC awards benefited Parkside Business & Community in Partnership (PBCIP) and Heart of Camden. According to New Jersey American Water, PBCIP focuses on Parkside revitalization, while Heart of Camden supports Waterfront South through housing, economic expansion, arts, and community development initiatives.

What projects will the 2026 Heart of Camden funding from New Jersey American Water (AWK) support?

The $150,000 Heart of Camden grant will support Waterfront South revitalization, including the historic Olsen Building redevelopment and a future neighborhood grocery market. According to New Jersey American Water, these efforts are part of the Broadway Gateway initiative to create arts, retail, and community spaces.

How much has New Jersey American Water invested through New Jersey’s NRTC program since 2010 (AWK)?

Since 2010, New Jersey American Water has provided approximately $13.4 million through the Neighborhood Revitalization Tax Credit Program. According to New Jersey American Water, about $11.5 million of this total has supported community projects specifically in Camden, underscoring a long-term community investment strategy.

What long-term support has New Jersey American Water provided to PBCIP in Camden (NYSE: AWK)?

New Jersey American Water has invested more than $2.3 million in PBCIP via NRTC funding since 2020. According to New Jersey American Water, these funds back affordable housing, commercial revitalization, and economic opportunity projects, including the Hardy Homes townhome development in Camden’s Parkside neighborhood.

How does New Jersey’s Neighborhood Revitalization Tax Credit Program work for companies like AWK?

The Neighborhood Revitalization Tax Credit Program allows businesses to apply state tax credits to investments in approved nonprofit revitalization projects. According to the New Jersey Department of Community Affairs, funds must support resident-driven, DCA-approved neighborhood plans, aligning corporate tax incentives with community development outcomes.