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