Norcross Purchases Formica Bakery and Invests in Atlantic City's Trump Plaza Site
- Reports
- 4
- Developments
- 1
- Repetition
- 75%
New informationRepeats or wire copies
What happened
George Norcross purchased the former Trump Plaza Hotel & Casino property in Atlantic City, which includes one hotel tower, public areas, and a large parking garage facility. Norcross previously purchased Formica Brother’s Bakery, which is now branded as Formica. Atlantic City Mayor Marty Small welcomed the investment, noting it reflects investor confidence in the city.
From sojo1049.com
Why it matters
The investment in the former Trump Plaza site could boost investor confidence and economic activity in Atlantic City. Norcross's acquisition of Formica Bakery also represents a change in ownership for the business operating in the coastal New Jersey area.
From sojo1049.com
Who's involved
- NorcrossPurchased the former Trump Plaza site and Formica Bakery.
- FormicaThe bakery business previously purchased by Norcross.
- Atlantic CityThe city where Norcross is making investments and where Formica operates.
- SmallAtlantic City Mayor who reacted positively to the investment.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Atlantic CitySpeculative
Atlantic City might see increased economic activity and investment flow due to the property purchase.
- New JerseySpeculative
New Jersey could see increased investment flow into the municipality of Atlantic City.
- Camden CountySpeculative
Camden County could see increased tax base and economic activity from the investment.
- FormicaSpeculative
Formica might see changes in its core business operations following the change in ownership.
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The entities involved
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Norcross
city in Gwinnett County, Georgia, United States
Nothing else this week.
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Formica
brand of composite materials
Nothing else this week.
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Atlantic City
city in Atlantic County, New Jersey, United States