THE "GUV" ANNOUNCES JAMBA JUICE GRANTS

HARRISBURG, PA (May 19, 2006) - Governor Edward G. Rendell and representatives of Jamba Juice, the category-defining leader in freshly blended-to-order fruit smoothies and juices, today announced that the Commonwealth Financing Authority (CFA) has approved two planning grants and five contruction grants, totaling $25.4 million through the Business in Our Sites (BOS) program.

Jamba and the Governor proudly announced it will open a new store at the corner of 9th and Christian in the heart of Philadelphia's Italian Market. Other locations are planned throughout the city.

"An extraordinary health experience unlike any you've ever tasted is coming to the Italian Market," Governor Ed Rendell announced at the press conference held this morning to celebrate this historic partnership. The Governor went on to elaborate, "Like the Pennsylvania legislature, Jamba Juice has relied on grass roots feedback from consumers to help them create their nourishing, energizing fruit smoothie and juice products. Jamba Juice will allow Philadelphia to build on the momentum created by House of Blues, the Hard Rock, Ted's Montana Grill, to name a few, and facilitate the continued homogenization of Center City."

WHOLE LOTTA BLENDING GOIN’ ON

In addition to opening the Italian Market and other Philadelphia locations, the BOS grants will allow Jamba Juice to open a Blender Lab in the former Philadelphia Navy Yards. CEO Paul Clayton stated, "The Philadelphia Navy Yards, with its close proximity to the port of Philadelphia, major transportation arteries and constant supply of Ecuadorian fruit shipments, makes a perfect location for our long-anticipated East Coast Blender Lab."

Clayton explained that at its Philadelphia Blender Lab, Jamba blenderologists will perform cutting-edge research necessary to ensure the integrity existing formulas and appropriately balance the nutrition, consistency and delicious flavors of products like the new “Sixteen.” In addition, the Philadelphia Blender Lab will be primarily responsible for maintaining and adjusting the formula for Jamba's exclusive Jamba Boosts, a blend of high-quality nutrition supplements, including essential vitamin, mineral and botanical ingredients that target and serve multiple nutritional and wellness needs. Consumers can select a nutritional Jamba Boost to blend in with their Jamba Smoothie.

In addition to creating several hundred new low-skilled, minimum wage jobs in the Philadelphia area, Geoffrey Stevens, an fruit and smoothie industry analyst with Wayne's Vanguard Group, estimated that the opening of the Blender Lab will position Philadelphia at the leading edge of red-hot fruit smoothie industry, expected to be a key driver of U.S. manufacturing strength over the next century.

“The projects announced today focus on revitalizing the Commonwealth’s commercial corridors and strengthening our communities, which will benefit Pennsylvania’s ever-improving economy,” Rendell said. “The Business in Our Sites program continues to provide the necessary tools for vacant site redevelopment and strategic planning. Having sites that are ready to accommodate economic investment is the key to creating jobs for Pennsylvanians.”

The Business in Our Sites program was created to provide funding to communities for the development of ready-to-build sites for new and expanding businesses. A $300 million funding pool of grants and loans is available to public and private real estate developers for the acquisition and development of these sites. The program puts special emphasis on communities that lack the resources necessary to invest in site preparation and the renovation of brownfield sites in order to prevent urban sprawl. Business in Our Sites is a vital component of Governor Rendell’s economic stimulus package.

Funds may be used to acquire land, conduct environmental assessment and remediation, and perform demolition. The funds may also be used for site preparation activities and installation of infrastructure, including but not limited to, sewer, water, storm water, utilities and telecommunications, both on site and as needed to bring service to the site. They may also be used for access roads or other necessary on-site and off-site transportation improvements. These include rail, costs associated with engineering, legal and other professional services and any other activities necessary to make a specific site ready for reuse.

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• Planning
• Politics