Camden's residents were told the recovery would help to lift them out of poverty. The state's "strategic revitalization plan," the recovery's guide, even listed jobs as the No. 1 goal.
But it didn't turn out that way. Instead, most of the bailout money, $99 million, was allocated to the aquarium and other "anchor" institutions: tourist attractions, universities, hospitals, and government agencies.
"There was a trade-off," said Rutgers-Camden's Howard Gillette Jr.
"They gave some money to help expand the aquarium, but they expected something in return. They wanted private investment, and it's come very slowly. That's been the turnkey on each of these things - to get the private sector to do things that the public sector couldn't do."
Seven years later, these institutions have failed to create many jobs for residents or tax ratables for the city. Camden is far more dependent on state aid than before.
The law followed an old strategy of aiding the city by subsidizing its strengths, like the waterfront: Once the waterfront looked good, Camden's reputation would improve, luring investors, residents, and jobs.
"The waterfront has to be the engine of economic development," says Assembly Speaker Joseph J. Roberts Jr., a recovery-law sponsor. "That's a gem. Patience has been tested, there's no question about it, but I think that's important."
Beyond the waterfront, the city's health and educational institutions - using an approach similar to the University of Pennsylvania's - were to be the newest saviors, with $31 million devoted to "eds and meds," including three colleges, two hospitals, and a planned medical school.
