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Beyond the Boardwalk: Regional Opportunities for Business and Growth in a Changing Economy
October 19, 2011Howard J. KyleChief of StaffAtlantic County Government
Atlantic County Economic Forum
Purpose of Today’s Forum
To establish a broad based, sustainable economic development initiative
Build upon assets and resources unique to Atlantic County
Capitalize on new, emerging opportunities
Create good jobs
Why “Beyond the Boardwalk?”
Atlantic City’s tourism, hospitality and gaming industry are vital to Atlantic County
Atlantic City is getting significant state resources and attention
Redevelopment and marketing plans are underway
Emerging opportunities are occurring on the Mainland and need attention
Our Challenge
To come together as a community with the vision, the will and the determination needed to build a new economic future by developing strong aviation research and health care and health research economic clusters
What will it take?
New thinkingNew visionNew energyNew way of doing
thingsUrgencyTime
How do we do this?
Get RealGet
OrganizedGet a PlanGet Going
Get Real
The era of easy economic growth is over
We are not going back to the future anytime soon
Even a successfully revitalized Atlantic City may not be enough in term of good job creation
Casino work force seeing substantial cuts in salaries and benefits. More Part time workers
Gaming industry is reaching market saturation
Gross Gaming Rev - Employment
2006 2010 YTD 2011
GGR (Billions) $5.22 $3.565 $2.5
Employment July 97
2004 YTD 2011 51,560
46,159 33,493
Get Organized
More aggressiveMore cooperativeMore coordinatedMore accountableMore results orientedPrivate sector responsibility for
Economic Development
Get a plan
“A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.” Wayne Gretzky
What Wayne meant: Be positioned to take advantage of a range of possibilities that may occur.
Think Long Term Base decision making on facts Develop strategy and tactics Get on the same page
Get going
Take control - Build the future WE want
Strong, sustainable future based on three pillars
Tourism, Conventions and Gaming
Aviation ResearchHealth care and Health
Research
The path ahead will not be easy
Today is a starting point
“We choose to do this not because its easy, but because it’s hard, because that goal will serve to measure and organize the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one which we intend to win. “
President John F. Kennedy
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