Atlantic County Economic Plan
Atlantic County Economic Plan
Atlantic County Economic Plan
Economic Development
Strategy and Action Plan
September 24, 2015
Table of Contents
Acknowledgements...... 3
Executive Summary................... 6
Market Assessment........ 17
Target Industries......... 31
Strategies and Goals....... 51
Redevelopment Sites. 101
Public Policy................ 104
Conferences .. 106
Implementation............ 109
About AE....................... 112
Atlantic County | 2
Acknowledgements
No economic development strategic plan can be created and implemented without the input and
support of key community stakeholders. We owe great thanks to the business leaders, residents and
many public and private organizations throughout Atlantic County, who generously shared their time
to make this strategic planning process comprehensive, relevant and ultimately effective.
We thank in particular the visionary members of the project steering committee and Atlantic County
staff that devoted countless hours reviewing findings, listening to presentations and providing input
and navigation. In their wisdom and guidance lies bright hope for a greater quality of life and a
prosperous economic future for all residents and businesses in Atlantic County.
Atlantic County | 3
Acknowledgements
Atlantic County | 4
Acknowledgements
Atlantic County | 5
Executive Summary
Executive Summary
It would be difficult to overstate the precarious condition of the Atlantic County economy, and the
acute need for community leaders to implement short- and long-term economic development
strategies to reduce the regions overdependence on the tourism and gaming sector and diversify
its economic base. Much of Atlantic Countys difficulty stems from two issues: the lack of any
significant industry cluster activity other than tourism and gaming, and the lack of a regional
economic development organization to brand and market the area and aggressively recruit new
companies. To address these and other issues, Atlantic County must adopt a regional approach to
economic development.
In many ways, Atlantic Countys difficulties are not unique. Regions across the U.S. have faced
devastating economic blows with the closing of a military base, the relocation of a major factory
or other game-changing events. Many of those communities have successfully forged ahead in
new and more promising economic directions.
Communities that have overcome serious economic setbacks have succeeded by realizing that
their challenges were too large and complex to be solved by any single governmental entity or
organization. Rather than wait for rescue from the state or federal government, these
Atlantic County | 6
Executive Summary
communities identified their problems and developed and implemented their own plan for
recovery marshalled by business and residential leaders. Atlantic County recognizes that it must
do the same, and that is why this economic development strategic plan was initiated.
The challenges that confront Atlantic County are not all economic. There is a need to abandon old
ways of community thinking. There is a need to move away from dubious practices of the past,
such as banking a future on only one industry. The region must aggressively develop other
suitable industry clusters. The extent of the dominance of gaming tourism in Atlantic County to
the detriment of all other clusters is uncommon, and should be regarded as a serious long-term
threat to future economic prosperity.
The antecedents of Atlantic Countys current economic turmoil are rooted in the early success of
legalized casino gambling. The easy prosperity that initially accompanied that industry
discouraged business and community leaders from seeking greater economic diversification.
Casino gambling strongly impacted the composition of the workforce and the development of
workforce skills in Atlantic County. For a good portion of the past 39 years, casinos have offered
low-skilled workers jobs that paid good wages and benefits. This in turn attracted more such
workers to the area. When the Atlantic City casino industry contracted, the region found itself
with a disproportionate number of freshly unemployed low-skilled workers. Many technically
oriented businesses are reluctant to locate in Atlantic County because they are uncertain the
required workforce skill sets will be available. Skilled workers must be attracted to the area and
the skill level of resident workers must be improved. Education and workforce development
efforts are critical.
Atlantic County has also been encumbered by an antiquated tradition of home rule that
encourages municipalities to focus their energies too parochially, thereby missing out on more
substantive economic opportunities that can only be realized through regional cooperation. A
shared vision of what Atlantic County can become must be created and the realm of economic
development must be declared a no politics zone.
AngelouEconomics recommends the creation of an adequately funded, private sector driven,
regional economic development corporation to rebrand Atlantic County and to aggressively
market and recruit new companies. Without such an economic development corporation,
Atlantic County will not be able to compete effectively against more progressive regions. The lack
of a vibrant and effective EDC may cause many industries to perceive the region to be unfocused
and inexperienced at economic development, and businesses will seek more accommodating
locations. In fact, without the efforts of a regional EDC, many domestic and international
businesses will remain unaware of Atlantic County as a potential location site.
As a first step, AE recommends that a board of directors be created with the expertise to plan
for the creation, staffing and funding of an Atlantic County Economic Development
Corporation. The ACEDC will implement the new Atlantic County Economic Development
Strategy and Action Plan and act to ensure continuing economic prosperity in the future.
Atlantic County | 7
Executive Summary
The new EDC will be responsible for implementing a marketing plan that includes strategies and
actions for target industries. Experienced staff will organize committees and planning groups to
address issues identified in the Atlantic County Economic Development Strategy and Action Plan.
Appointed committees will also leverage talent within the county to review existing federal and
state incentives to determine additional avenues of funding and support and to recommend state
and local policy changes that can assist Atlantic County in achieving its economic development
goals.
Despite its challenges, Atlantic County is poised with opportunities and significant economic
development assets, such as the FAA William J. Hughes Technical Center, the Atlantic City
International Airport, Richard Stockton University, Atlantic Cape Community College, beautiful
beaches, agriculture, and first class hospitals and medical facilities. Business and community
leadership must come together with passionate commitment and determination to build on these
and other assets and to overcome the regions challenges. That cohesive commitment will be
essential in dealing with Atlantic Countys declining economic opportunities and dramatic social
concerns. If the private sector understands the significant scope of the regions economic issues
and steps up to the plate to take strategic and effective action, then a brighter and more
prosperous future is obtainable. The choice belongs to local businesses and residents, and the
future of Atlantic County is in their hands.
Atlantic County and ACIA initiated this strategic planning project to help diversify and advance the
economy, increase the asset and revenue base of the county, improve employment rates and
grow higher paying jobs. Development of strategy has been accomplished in four phases:
Phase I: Stakeholder
Engagement
Atlantic County | 8
Executive Summary
Stakeholder Engagement:
The strategies in this plan were many months in development. The project began with
stakeholder engagement, conducted through on-site interviews and focus groups, and through
online surveys of local businesses and residents. More than 300 stakeholders provided important
input through direct interviews, focus groups and community forums. More than 1,100
stakeholders additionally participated through online resident and business surveys. Information
gathered during the stakeholder phase was combined with the analysis of statistical data from
public and private sources, and run through evaluation models developed by Angelou Economics.
In total, 995 residents responded to the Atlantic County survey. Residents perceive the most
serious challenges facing the region to be: high cost of living, general economic health, high taxes,
casino closings, lack of available jobs and a lack of strong community leadership.
An additional 111 businesses responded to the Atlantic County survey. Business survey
respondents ranked access to customers, operating costs, and quality of life as the most
important factors influencing their business. The largest gap between importance and level of
quality existed for tax climate, operating costs, and regulatory environment.
Market Assessment:
In order to gain a better understanding of the social,
economic, and demographic issues relating to
Atlantic County, a market assessment was
completed in phase two of the project. To gauge
Atlantic Countys performance in a variety of
metrics, Atlantic County was benchmarked against
Dubuque County, Erie County, Roanoke City, and
Washoe County. Data metrics for Atlantic County
were also compared to New Jersey and the U.S.
Benchmarks were selected by the Atlantic County
Improvement Authority (ACIA) based on their
similarity to Atlantic County in income levels,
population, industry makeup, and higher education
levels.
The market assessment evaluated Atlantic Countys
population and education demographics, workforce
demographics, and economic highlights. A retail gap
analysis was performed to analyze Atlantic Citys and
Atlantic Countys retail mix. A total surplus of $742
million is being spent within the county. People from
Selected Benchmarks:
Dubuque County, Iowa
Erie County,
Pennsylvania
Roanoke City,
Virginia
Washoe County,
Nevada
outside the region are coming to Atlantic County to shop in clothing stores, grocery stores and
full service restaurants. Minor retail leakage occurs from residents shopping outside the area
for electronic shopping and mail order houses, electronics and appliance stores and general
merchandise stores.
Finally, the market assessment determined the regions leverageable assets and challenges to
overcome.
Atlantic County | 9
Executive Summary
The identified leverageable assets and challenges play a crucial role in the decision making
processes in the next phases of the report. Leverageable assets provide Atlantic County with key
advantages, if utilized properly, which can be vital in helping the region attract targeted industries.
Challenges to overcome, on the other hand, act as barriers to the process and must be addressed
through planning and modifications.
Challenges to Overcome
Atlantic County | 10
Executive Summary
Target Industries:
The Target Industry Analysis focused on key industries
Atlantic County should work first to attract. The analysis
included an evaluation of employment levels,
establishments, wages, growth levels, and location
quotients for all North American Industry Classification
System (NAICS) codes in Atlantic County.
Virtually no clustering exists outside of the Travel and Food
Services sector. Therefore, national growth trends, regional
assets and the goals of the Atlantic County community
weighed heavily in the selection of target industries.
Target industries are: Aerospace and Aviation, Life Sciences,
Tourism, Specialty Manufacturing, and Entrepreneurial
Business Services as industries to target.
Life Sciences
Tourism
Specialty Manufacturing
Entrepreneurial Business
Services
In order to more narrowly focus target industry marketing, AE identified target industry niches for
each of the chosen industries. These niches were also chosen for their fit to the community and
for their economic potential to create bridges across industries and opportunities for
diversification. To foster a deeper understanding of the target industries and define the economic
development activities necessary, these niches were grouped into three categories; mature target
niches, diversification target niches, or emerging target niches.
Economic development efforts for mature niches, such as aeronautics testing grounds and call
centers, should focus on retention and expansion activities. Diversification niches, such as aircraft
maintenance operations and festivals, should have economic development efforts focused on
attraction and entrepreneurship activities. And finally, emerging niches such as climate change
research centers need economic development efforts focused on expansion, attraction, and
entrepreneurship activities. Vast potential exists for added development of specialty
manufacturing, especially in niches tied to aeronautics, tourism and life sciences industries.
An Occupational Analysis was performed to gain an understanding of what occupations are
required by these target industries to support their business activities. The analysis also identifies
higher-paying career paths within each industry. Any gaps in local workforce skill can then be
identified. Often the occupational analysis helps to identify the specific needs for workforce
education strategies.
Atlantic County | 11
Executive Summary
Cost of Operations Analysis
To better understand where economic development incentives need to be applied or boosted, AE
performed an analysis of the cost of doing business for three specific niche businesses within the
target industries. The cost analysis was performed for each benchmark city and presented as a
cost index across primary functional areas of business. The benefit of such analysis helps to
pinpoint what economic incentives will have the greatest positive impact on attracting a specific
industry by shoring up areas that are not cost competitive. The analysis also helps determine how
Atlantic County should approach marketing based on cost advantages.
A cost of operations analysis was conducted for the Aerospace and Avionics Aircraft
Maintenance niche. Atlantic County, in particular, the Atlantic City Airport shows significant
promise as a location for such a maintenance and repair operation. There is land space available,
although taxiway infrastructure would have to be constructed. Atlantic County shows competitive
cost factors for employee payroll, building costs/lease payments and property tax. Atlantic
Countys estimated annual cost of operations was mid-range at $32.9 million, compared to a high
in Queens County of $42.3 million and a low in Philadelphia County at $29.7 million. The adjacent
location of the Federal Aviation Administration research center could also be a competitive factor.
A cost of operations was conducted for the Entrepreneurial Business Services Call Center niche,
showing Atlantic County to be at a competitive disadvantage to its benchmark locations. Atlantic
County had the highest cost of operations at $6.6 million/year, compared to lowest benchmark
Dubuque County with a an annual estimated cost of $5.5 million. Local payroll costs were the
highest factor comparatively. Experience has shown that the region can overcome the cost
disadvantage through incentive offerings. In the summer of 2015, ACIA was able to attract the
NETCAST BPO call center by offering $32 million in tax credits and workforce training subsidies.
Cost of operations analysis for the Specialty Manufacturing industry Food Processing niche
showed that Atlantic County lacks competitive advantage in attracting those plants. Atlantic
County had the highest annual estimated cost of operations at 3.8 million, compared to lowest
cost benchmark Houston County with $2.4 million. Once again, payroll and utilities costs drove
local operating expenses higher.
Atlantic County | 12
Executive Summary
Strategic Action Plan:
In this final project phase, AngelouEconomics provides the Atlantic County Improvement
Authority a strategic action plan of recommendations for the ACEDC to implement to help attract
target industries, utilize their assets to the best of their abilities, and improve upon their
weaknesses. The recommendations are developed with insights gathered from the first three
phases of the project. Public policy initiatives are suggested to supplement or improve existing
incentive packages.
Recommendations are organized into four overarching goals, and then further detailed through
suggested strategies and actions.
Empower
Regional
Economic
Development
Drive Industry
Diversification
Improve
Economic
Development
Product
Rethink
Destination
Attraction
Atlantic County | 13
Executive Summary
In order for the ACEDC to foster a robust retainment and expansion program, the corporation
must first understand the needs of local businesses. This understanding can be gained through
surveys and visits to area businesses. The ACEDC should also sponsor local small business events
and present awards to outstanding businesses within Atlantic County - the success of local
businesses is the success of the region as a whole.
Finally, the economic development corporation should work to foster a strong entrepreneurial
ecosystem. Stockton University, Atlantic Cape Community College and local Chambers of
Commerce are well-positioned to aid the ACEDC in increasing entrepreneurial activity. In order to
spark innovation and creativity, the economic development corporation should investigate
establishing an incubator, accelerator, and coworking space. To encourage greater levels of
innovation and entrepreneurism, ACEDC should also help create an affordable makers space to
provide access to workshop areas and cutting edge manufacturing tools, including 3D printers and
laser cutters. By creating opportunities to share the cost of such equipment and space, the barrier
to entry is greatly reduced for entrepreneurs working to produce prototypes.
The ACEDC should also work with private partnerships and utilize state and federal funding to
help provide capital for local start-ups.
Atlantic County | 14
Executive Summary
One of the most important actions the ACEDC and business and community leaders can take to
change the future of Atlantic County for the better is to revise the master plans of municipalities
to include an identification and evaluation procedure for prime county properties and restrict
the development or redevelopment of those properties to best use purposes in accordance with
the overarching regional Atlantic County Economic Development Strategy and Action Plan.
Integral properties should be developed with a specific long-term plan in mind to optimize
strategic economic development. As the area sees growth in innovation and becomes home to
new industries, it is important that a regional plan for districts and employment centers guides
the collaborative efforts of all cities. Five prime properties within the county have been identified
for suggested best use practices and incorporated into the regional strategic plan.
Location
Size
Owner
Project Use
Estimated Cost
Possible Funding
Bader Field
Atlantic City
142 Acres
Atlantic City
Phase 1: Sports
Complex, Phase II:
World Trade Center
$100 Million +
Stockton Aviation
Research and Tech
Park
FAA William J.
Hughes Technical
Center Campus
55 Acres
Stockton University
Spec Building to
Include Incubator
$15 Million
Public/Private
Partnership
Atlantic City
International
Airport
Egg Harbor
Township
Portion of 84 Acres
FAA/SJTA
Aircraft
Maintenance,
Repair and
Overhaul Facility
Hamilton
Racetrack
Hamilton
Township
250 Acres
Parks Casino
Enclosed Theme
Park
Covered by Owner
Route 40 Combined
Purpose Projects
Buena Vista
Township
7 Acres 4 Sisters
4 Sisters - Plant
192 Acres Richland
Buena Vista
Village
Township Historic
EDA Grants,
Tourism Grants,
Historic Society,
CRDA, Tax
Abatement
Atlantic County | 15
Executive Summary
4) Rethink Destination Attraction
Tourism has always been a pivotal industry for Atlantic County. The recent decline in casino
gaming in the area is not a reason to give up on tourism, but rather a reason to redefine tourism.
The success of Las Vegas has not been due to casinos alone, but rather to the mix of attractions
the city offers. Three strategies can help redefine destination factor in Atlantic County:
Correlate Countywide Attractions
Extend Tourism Peaks
Expand Sports and Ecotourism
The ACEDC needs to take stock of its offerings and work to better promote them through the
Internet and marketing collateral. Conventions, especially relating to gaming and UAVs, are a good
way to bring in business-related visitors who will spend money within the local economy. The
tourism season needs to be expanded beyond the summer months. This can potentially be
accomplished through shallow port cruises, weekday tour packages, and sports leagues and
tournaments. The Pinelands, Wetlands, fisheries and vineyards are important resources to not
be overlooked. Atlantic County has immense potential in terms of eco-tourism, particularly
valuable within the dense northeastern U.S. geographic area.
A Call to Action:
Without change, Atlantic County faces an uncertain future. Thousands of people in the region
remain unemployed and without adequate work skills. Home values have dropped, and a
declining tax base has stretched county resources thin. Now is the time for public and private
economic leadership and decisive action.
This will not be an easy task. To accomplish it, regional business and community leaders must
work together to create and fund a public/private economic development corporation staffed by
experienced professionals that can immediately begin to market the cohesive region. That EDC
must have strong support and partnership from its stakeholders. Only by tearing down longexistent silos of communication can businesses and residents hope to reverse Atlantic Countys
economic decline.
The issues faced by Atlantic County have been a long time in the making, and solving those issues
will not occur overnight. Implementing the strategic plan with three, five and 10 year objectives
and continuing to revise and hone the plan to address changing circumstances will allow Atlantic
County to take charge of its destiny and ensure quality of life and prosperity in times to come.
Economic Development is not a sprint; it is a marathon. It is time for local stakeholders to step up
to the mark and enter the long race.
Atlantic County can become a thriving international market location through the implementation
of a strong strategic action plan that reflects and achieves the common goals of its regional
stakeholders. AngelouEconomics has been proud to partner with Atlantic County and the Atlantic
County Improvement Authority to create the Atlantic County Economic Development Strategy
and Action Plan. The plan will serve as a road map for the region, providing direction to reverse
economic decline and bringing stakeholders together to leverage regional assets and promote the
region globally.
Atlantic County | 16
Market Assessment
Phase I:
Stakeholder
Engagement
Downtown Hammonton
The Market Assessment provides the base set of information upon which the selection of target industries
and the development of economic development strategy rely. A better understanding of the factors that
drive the economy, the assets that can be leveraged for attraction and the issues that must be addressed
fuel better strategic decisions.
Atlantic County | 17
Market Assessment
Comparing Demographics:
Four regions were selected by Atlantic County with which to benchmark general market
demographics for the Atlantic County region. Those benchmark regions were:
Dubuque County, IA
Erie County, PA
Roanoke City, VA
Washoe County, NV.
Atlantic County, with a population of 276,000 compared most closely in size to Erie County, with a
population of 280,000.
Population:
Atlantic County experienced a slow population growth from 2008 2013 (2%) compared with the
U.S. (4%). Of the benchmark regions, only Erie County experienced lower population growth
during the time period with flat growth at 0%. Both Roanoke City and Washoe County grew at a
moderate 6%.
Atlantic County has an older population with the highest median age of any benchmark at 40.3
years compared to the U.S. median of 37.5.
Atlantic
County
Dubuque
County
Erie
County
275,862
95,697
280,294
98,465
Median Age
40.3
39
38.7
37.5
37.2
39.4
37.5
24%
23%
24%
28%
27%
26%
26%
2%
3%
0%
6%
6%
2%
4%
%Foreign Born
16%
2%
4%
7%
15%
22%
13%
85%
92%
90%
82%
87%
89%
87%
24%
27%
27%
23%
28%
37%
30%
25%
15%
25%
36%
18%
14%
19%
Total Population
Roanoke Washoe
City
County
New
Jersey
U.S.
Atlantic County | 18
Market Assessment
Foreign Born Residents
Atlantic County compared well in its percentage of foreign born residents (16%) to the other
casino-impacted benchmark, Washoe County (15%). While this was somewhat higher than the
U.S. (13%), it was significantly higher than most of the benchmarks chosen for comparison. Other
than Washoe County, benchmark foreign born populations ranged from 2% to 7%. New Jersey
itself has a strong foreign born population, estimated at 15%.
Poverty
The area faces crippling levels of unemployment and poverty. The regional poverty rate is
estimated at more than 25% versus the U.S. at 19%. Benchmarks Erie County (25%) and Washoe
County (37%) also reflected high poverty rates. The poverty rate has been growing in Atlantic
County, from 14% in 2007 to 25.2% in 2013.
Although from 2000 to 2008 the Atlantic County unemployment rate tracked closely with New
Jersey and the U.S, this gap began to increase in 2009. That year Atlantic County hit an annual
double digit unemployment rate of 11.9%, while New Jersey and the U.S. peaked at 9.1% and
9.3% respectively. The state and the nation hit their long-term peak for unemployment in 2010.
Atlantic Countys unemployment rate on the other hand continued rising until it reached its peak
in 2012. At this point it began to level off at a point between 10% and 11%. Both New Jersey and
the U.S. have since returned to values in the 5-6%.
Since its peak in unemployment, Atlantic County has experienced a labor force contraction. From
2013 to 2015, Atlantic Countys labor force shrunk by 1-3%, resulting in the loss of 1,000 to 4,000
employees a year. Although general statistics indicate that Atlantic County saw small positive
population growth until 2014, that growth is deceptive. Since 2001, the region has experienced
international immigration levels of roughly 1,000 to 1,500 people a year. These levels of
immigration were able to balance out the high levels of domestic migration out of Atlantic County
that began in 2008. In 2011, net domestic migration out of Atlantic County began hitting levels of
1,500 to 3,000, thus outpacing immigration levels.
In 2000, Atlantic County had a poverty rate of 10.5%. Following the peak level of unemployment
in Atlantic County in 2012, the poverty rate reached a level of 18% in 2013. Although the rate
tracked closely to the U.S., often being a percentage point lower, the 2013 figure was 2% greater
than that of the U.S. Part of this increase in poverty can be attributed to the immigration shifts in
the area. According to the 2013 American Community Survey, native residents in Atlantic County
have a median household income of $56,000. Their foreign born counterparts on the other hand
have a median income $10,000 less. The shift of native born residents leaving the county, coupled
with high unemployment rates, declining home values, and higher taxes, depletes the region of its
middle class and increases its poverty levels.
Atlantic County | 19
Market Assessment
Dealing with the challenges of enduring and concentrated poverty, especially in the communities
of Atlantic City and Pleasantville, will be a continuing struggle. The recent downturn in Atlantic
Countys economy has made matters somewhat worse. According the Atlantic County
Department of Family and Community Development an estimated 48,148 individuals receive
Supplemental Nutrition Benefit Program benefits, more commonly known as food stamps. In
2003 there were an estimated 14,000 individuals receiving these benefits. In many cases, the
individuals receiving these benefits are employed but dont earn enough to adequately support
their families. However, the problem of entrenched poverty are much more intractable and less
responsive to improving economic conditions. The 2015 Kids Count Report for Atlantic County
done by the Advocates for the Children of New Jersey, ranked Atlantic County 20th out of 21
counties in measures of child wellbeing.
A joint Project of the Community Affairs Offices of the Federal Reserve System and the
Metropolitan Policy Program at the Brookings Institution looked at the problem of entrenched
poverty in Atlantic City in 2008. The project noted that the despite the multitude of entry level
jobs, many city residents lacked the critical skills necessary for employment.
19%
0%
Atlantic
County
Dubuque
County
Erie
County
Roanoke
City
Washoe
County
New
Jersey
United
States
30%
20%
16%
14%
14%
15%
19%
17%
10%
0%
2007
2008
2009
Atlantic County
2010
New Jersey
2011
2012
2013
United States
Atlantic County | 20
Market Assessment
Infrastructure:
Despite economic hardships, home ownership in Atlantic County is at 53%, relatively comparable
to the U.S. at 57%. Median home values ($219,000) remain higher than average for the U.S.
($174,000) and benchmark regions, but are lower than the average for New Jersey ($308,000).
Median rents paid are also high. While regional home values are high, they are falling significantly
roughly 20% from $272,900 in 2007 to $218,600 in 2013. During the same period of time, U.S.
home value decreased by less than 11%. The only benchmark to suffer a harsher decline in
housing value was Washoe County at nearly 42%.
The good news is that the percentage of vacant houses appears to be initiating a decline. The
vacancy level increased from 18.3% in 2007 to 21.4% in 2012. The percentage of vacancies began
to decline in 2013 for the first time in seven years, down to 20.1%.
Thousands
$272
$273
$250
$259
$238
$233
$227
$219
2010
2011
2012
2013
$200
$150
$100
2007
Atlantic County
Roanoke City
United States
2008
2009
Dubuque County
Washoe County
Erie County
New Jersey
Atlantic County | 21
Market Assessment
Atlantic
County
Dubuque
County
Erie
County
Roanoke
City
Washoe
County
New Jersey
U.S.
Owner-occupied
53%
65%
63%
48%
50%
57%
56%
Renter-occupied
27%
27%
30%
42%
39%
32%
32%
20%
8%
7%
9%
11%
11%
12%
$218,600
$146,100
$116,100
$131,800
$201,700
$307,700
$173,900
$1,023
$681
$697
$714
$871
$1,171
$905
%Households Paying
35%+ of Income in
Rent
49%
40%
45%
38%
42%
45%
43%
%Housing Structures
Built Prior to 2000
88%
86%
93%
93%
74%
89%
84%
%Same Residency as
2012
89%
84%
84%
80%
77%
90%
85%
Atlantic County | 22
Market Assessment
Education:
When it comes to the State of New Jersey Department of Education High School Proficiency
Assessment Spring 2014, Atlantic County schools cluster around the state average for the exam on
both math and language. Being middle of the pack is not terrible, but it is by no means an
attraction asset. Parents look at school districts that perform in the higher echelons when they
relocate for jobs.
Since parents pay attention to the quality of education, site selectors must as well. When
selecting a location, site selectors must be sure that the area either has the necessary workforce
or can attract the necessary work force. Education therefore plays both a role in attracting new
businesses and a new workforce. If Atlantic County is to attract more families with higher paying
jobs, school performance must improve.
Improvements to education not only pay dividends in the short run by attracting new businesses
and workforce, they also pave the way for Atlantic Countys future. Although higher skill level jobs
are not currently prevalent within the region, the goal of this report is to pave the way for such
jobs in the future. Schools in Atlantic County must work to prepare students for the jobs that will
be there tomorrow and not for the ones that are there today. To do so, schools must work to stay
on the cusp of cutting edge teaching techniques and opportunities.
Atlantic County | 23
Market Assessment
Workforce:
There are an estimated 127,000 people in the Atlantic County workforce, which declined 6% from
2004 to 2014. The unemployment rate is very high at roughly 11%. Unemployment numbers in
Atlantic County exploded during the recession, rising from 6.5% in March 2008 to 12.9% in March
2009. Current unemployment (April 2015) is estimated at 10.6%.
Most people in the region live (66%) and work (68%) in Atlantic County. Median income for
Atlantic County ($52,127) was higher than all benchmarks except Washoe County ($53,588), but
much lower than the median for New Jersey ($70,165). Median income in Atlantic County
decreased 1% in 2014. The number of businesses operating in the region grew by 2% from 20032013, compared to U.S. growth of 12%.
68.4%
Camden County, NJ
3.6%
Cumberland County, NJ
3.3%
3.2%
2.9%
Gloucester County, NJ
1.9%
Ocean County, NJ
1.8%
Middlesex County, NJ
1.6%
Philadelphia County, PA
1.2%
66.2%
5.1%
4.9%
4.5%
2.6%
1.0%
0.9%
0.7%
2.2%
Atlantic County | 24
Market Assessment
Retail Gap Analysis:
A retail leakage assessment explores the relationship between the retail sales of Atlantic County
establishments (local supply) and the retail purchases of Atlantic County residents (local demand).
To conduct this analysis, the supply and demand of over 30 retail sectors were reviewed. When
retail sales exceed resident purchases, it is considered a retail surplus. When resident purchases
exceed the sales of local retail establishments it is called retail leakage. A retail surplus is
considered a positive asset; people are coming from outside the region to market and make
purchases. A retail leakage presents an opportunity to expand retail offerings in an attempt to
capture consumer purchases currently lost to the Atlantic County market.
The Leakage / Surplus analysis provides a snapshot of current supply versus current demand. A
factor greater than one indicates a surplus, while a factor of less than one indicates a leakage.
To conduct this analysis, the supply and demand of more than 30 Atlantic County retail sectors
have been reviewed. Atlantic County has a surplus in many of its retail sectors, and an overall
surplus factor of 1.26. A total surplus of $742 million is being spent within the county. The
greatest retail surplus in the county occurs in: clothing stores, grocery stores and full service
restaurants.
Heading the list in terms of Atlantic County leakage were: electronic shopping and mail order
houses, electronics and appliance stores and general merchandise stores.
Taking a look at Atlantic City as a microcosm, AE found a total retail surplus of $295 million and a
retail surplus factor of 2.14. The greatest retail surpluses in the city occur in clothing stores, full
service restaurants and shoe stores. Atlantic City opportunities lost in sales leakages included
automobile dealerships, electronic shopping and mail order houses, and department stores.
Survey Analysis:
As part of the stakeholder engagement process, ACIA and AE launched online surveys through the
project website for Atlantic County businesses and residents to glean their observations regarding
current economic conditions and what they would like to see as the future of the region. Hard
copies of the surveys were also available from community libraries identified by ACIA. In total, 111
businesses and 995 local residents participated in the surveys.
Public input was very important to this project, not only to gain valuable insight from key
stakeholders who live and work in Atlantic County, but also to build growing investment and
support for the strategic plan and its implementation. An unusual level of support for the strategic
planning process was noted, with more than 80% of businesses responding to surveys indicating
that they believed a regional collaborative approach to economic development would benefit the
entire Atlantic County region. It is further important to note that, while 23% of businesses
reported they would be willing to help pay for the cost of strategic regional economic
development, 43% said they were still undecided about whether or not they would contribute.
Those statistics indicate that, while
Atlantic County | 25
Market Assessment
the business community sees the need for more strategic economic development conducted
regionally, many are waiting to be convinced of the merit of the plan before putting money in the
coffer.
The complete set of survey data, including open-ended responses, is provided to Atlantic County
in digital format to facilitate further review.
Business Survey Findings:
Respondents considered the most important criteria to doing business to be: access to customers,
operating costs, quality of life, tax climate, and security. More than 54% of businesses said
development and permitting processes were an impediment to growth or a definite problem in
doing business in Atlantic County.
Businesses saw the regions major assets as: access to major metropolitan areas, coastal Atlantic
location, tourism, beach lifestyle, Federal Aviation Research Center, Stockton University and
AtlantiCare Medical. The greatest impediments to doing business in Atlantic County were seen as
high operating costs, specifically high tax levels, compliance with state and local regulations and
the lack of local community leadership.
Market Assessment
Resident Survey Findings:
The top decision making factors for living in Atlantic County were ranked (in order) as: 1) Taxation
Level, 2) Cost of Living, 3) Overall Health of the Economy, 4) Quality Healthcare, and 5) Job
Availability. Residents only considered the Quality Healthcare factor to be met adequately in the
region.
Residents felt Atlantic Countys greatest assets to be: proximity to the Atlantic Ocean, proximity to
major metropolitan areas, coastal quality of life and redevelopment opportunities.
Nearly 38% of resident survey respondents indicated that they are extremely likely or quite likely
to move out of the county within the next five years.
Resident surveys show:
A relatively high percentage of residents
(35%) have at one time owned their
own businesses, but only 25% of those
people still own businesses. The major
reasons for no longer owning the
businesses were listed as: too high an
overall cost of doing business,
exorbitant tax levels, cumbersome
regulations, and some difficulty finding
employees. Some 17% of residents are
thinking of starting their own
businesses, 23% of those wanting to do
so feel they need more small business
training.
More than half of residents reported
being unaware that their public school
districts offered any type of skills
training curriculum for students wishing
to enter the workforce directly after
high school graduation. Roughly 30% of
respondents had attended college
courses or skills training sessions in the
last year.
Residents perceive the most serious
challenges facing the region to be: high
cost of living, general economic health,
high taxes, casino closings, lack of
available jobs and a lack of strong
community leadership.
Satisfaction*
Cost of living
4.63
2.13
Taxation level
4.63
1.74
Overall
economy
4.56
1.93
Quality
healthcare
4.46
3.36
Job availability
4.32
1.86
Atlantic County | 27
Market Assessment
Market Assessment
Strengths
Federal Assets
Beaches, Ocean
Stockton University + Atlantic Cape CC
Sports Culture/Activities
Low East Coast Real Estate Prices
International Airport
Specialty Agriculture
Positive Incentives
Stockton Aviation Research and Technology
Park
Pinelands and Wetlands
Varied City Attraction Factors
Shallow Port Access
Designated UAV Test/Train Center
Weaknesses
High Unemployment, Poverty
High Taxes
Declining Population
Low Industry Diversification
Little Local Economic Development
Leadership
Onerous State/Federal Regulations
Pineland/Wetlands Restrictions
Deteriorating Infrastructure
No Entrepreneurial Culture
Lack of Communication
Little Invested Business Leadership
Largely Unskilled Workforce
No Regional Brand
No Perceivable Portals
Threats
Drastically Reduced Tax Base
Redirection of CRDA Funding
Lack Coordinated Highest-Use Property Plan
Falling Home Values
High State Regulation of
Development/Redevelopment
Severe Weather Impacts
Negative Perception of Atlantic City
Weak Quality Service Culture
Western Cut-off Factor
Increasing Number of Casinos, including
possible North New Jersey
Inadequate R&D Activity
Atlantic County | 29
Market Assessment
Key Leverageable Assets:
Atlantic County lays claim to many important underutilized assets that can be used to help
existing businesses grow. Those assets, when used effectively, can also give the county an
advantage in garnering the attention of the target industries identified for attraction.
Chief among Atlantic County assets are:
Specialty Agriculture
Redevelopment Opportunities
Ecological Aspects
Beaches/Atlantic Ocean
Ports (Shallow)
Stockton University
Positive Incentives
No Regional Brand
Limited Universities
High Unemployment
Atlantic County | 30
Target Industries
Phase I:
Stakeholder
Engagement
An analysis of target industries for the Atlantic County regional market was conducted as the third
phase of the economic development strategic planning process.
The findings of the Market Assessment informed the selection of industries recommended for the
focus of limited economic development marketing resources during the 10-year period of the
strategic action plan. The Market Assessment and the Target Industry Analysis are the reference
set on which the coming Strategic Recommendations will be based.
Atlantic County | 31
Industry
Trends
Regional Assets
1) Which
industries are
concentrated
locally?
2) Do those
clusters
reflect
national
growth
trends?
3) Are there
local or
regional
assets that
give
industries a
competitive
edge?
Vision
Alignment
4) Do these
clusters
meet the
goals of the
community?
Atlantic County | 32
Industry Clustering
Atlantic County | 33
Market Access
Tourism Elements
Development/Repurposing Options
Atlantic County | 34
Mission
Sustain and diversify the
economy in order to provide a
high quality of life for all
residents.
Vision
Life Sciences
Tourism
Specialty Manufacturing
Entrepreneurial Business Services
GUIDING OBJECTIVES
1
2
3
4
Atlantic County | 35
Target Industries
Target
Industries
and Niches
Mature/Core
Targets
Retention
Expansion
Diversification
Targets
Attraction
Entrepreneurship
and Small
Business
Development
Emerging
Targets
Aerospace
and
Avionics
Life
Sciences
Tourism
Specialty
MFG
Entrepr.
Business
Services
Testing and
Evaluation
Retirement
and Assisted
Living
Sports and
Sporting
Events
Boat MFG,
Parts and
Supplies
Accounting/
Data
Processing
/Financial
Materials
Design and
Development
Vaccines/
Pharmacology
Eco-Tourism
Pharmaceutic
al
Compounding
Call Centers
Wellness
Centers
Gaming
(Non-Casino)
Specialty
Foods
Medical
Tourism
Tour Packages
Food and
Beverage
Processing
Aircraft
Maintenance
UAV Design,
Evaluation and
Repair
Cyber Security
Kinesiology
and Geriatrics
Communication
Systems
Marine Biology
and
Eco-Studies
Festivals and
Events
Aqua-Tourism
Design,
Evaluation and
Repair
Sports
Medicine
Expansion
Attraction
Entrepreneursh
ip and Small
Business
Development
Aeronautic
Equipment
Research and
Recovery
Engineering,
Computer,
Design
Agri-Tourism
Chemicals
Aircraft Parts
and Design
UAV MFG,
Parts and
Design
Product
Design and
Prototyping
Climate
Change
Research
Travel,
Convention
and Event
Support
Programming
and Gaming
Special Skills
Schools
Atlantic County | 36
Target Industries
During the target industries selection process, national growth trends have been tempered with
market knowledge of Atlantic County. Some areas in the country are experiencing an upswing in
manufacturing, especially in advanced and specialty manufacturing sectors. The federal
government has increased funding support to promote manufacturing innovation. Within the East
Coast region, Atlantic County is poised to capture some of this resurgence.
Atlantic County has a history in this industry, and it is one of the few areas in the Northeast
Coastal U.S. where real estate values could allow for lower operating costs. Agricultural activity,
including blueberry production, fisheries and vineyards, and the presence of healthcare activity by
organizations actively advancing service packages are stimulants for specialty manufacturing
development.
Life sciences is a growing industry and the existence of AtlantiCare with the backing of Geisinger is
a positive advantage. The companies have an inclination toward economic development and
strategic plans that involve the new development and repackaging of services. Geisinger also has
a created a set of patient data stemming from its associated insurance program that should allow
the health company to move more quickly into new healthcare delivery systems, infrastructure
and products.
Atlantic County has vast potential for the development of tourism industries not related to
gambling and casinos. Atlantic Coast beaches, historical boardwalks, preserved wetlands and
forests, an underutilized airport and culturally rich cities and towns add up to significant attraction
points. For better or worse, Atlantic City has international name recognition. The ACEDC can use
that recognition to rebrand the area. The region is currently not taking full advantage of
communication, city assets or gateway activities to easily develop tourism activities.
With the powerful advantage of the Federal Aviation Administration William J. Hughes Technical
Center located close to the Atlantic City Airport and the green light now in developing the
public/private research park next door, it is time to take a closer look at possibilities in related
aerospace and avionics industries. Potential airport space adds to the strength of the package,
and the upcoming 2017 BRAC should be looked at as having the potential to relocate services
from closing bases to the area. One of the best cases of low-hanging fruit in terms of new industry
is to develop a Maintenance and Repair Operation for aircraft at the airport. Significant interest
has already been shown in this operation.
Entrepreneurial business services need to feed the development of new clusters in Atlantic
County. There currently appears to be little to no real entrepreneurial support infrastructure in
place that will foster the development of these small companies. Strategy must be developed to
quickly put in place factors that will encourage the creation of more small businesses.
Industry Sectors:
For a more granular understanding of the selected target industries, industry dashboards and
summary information have been provided that indicate the level of industry activity in the region,
niche businesses, assets that will provide competitive leverage, opportunities available for the
industry, issues that should be addressed related to the industry and the extent to which the
industry meets Atlantic County strategic goals. The dashboards also provide a look at each
industrys growth in Atlantic County and in the U.S. as a whole during the last 10 years and a
sample of the types of jobs the industries.
Atlantic County | 37
Mature/Core Target
Testing and Evaluation
Materials, Design, and Development
Diversification Targets
Aircraft Maintenance
UAV Design, Evaluation, and Repair
Emerging Targets
Communication Systems Design,
Evaluation, and Repair
Enable Tech/Systems Integration
Aeronautic Equipment Research and
Recovery
There has been growth in both one and five-year periods in airport related and UAV and national
defense niches. The aeronautics industry offers many higher-paying positions in scientific and
research fields. The aviation industry also offers some positions in higher than average wage
ranges. Most of those higher paying jobs will require advanced educational degrees and training.
The FAA location contingent to the Atlantic City Airport offers the region the strongest leverage in
its economic development portfolio and many opportunities. Bringing the first stage of the
business park to reality with its advantage of linkage to FAA data and other resources could
attract more innovative businesses to the area and help to foster entrepreneurial growth.
Aeronautics and Aviation.
Both private and public interest has been shown in developing a maintenance and operations
facility at the airport.
Operating cost would be
competitive for the East Coast
area, however funding would
have to be secured for
runway
and
warehouse
infrastructure.
Avionics
offers
strong
opportunity for bringing
higher paying jobs to the
area.
FAA vortex testing
Atlantic County | 38
Competitive Assets:
Federal Assets and Research Park
International Airport
Ocean Proximity
Educational Facilities
State Incentives for Atlantic City
Key Opportunities
Underutilized Airport Space
Designated UAV Test Site
Alternative Space Shuttle Landing Site
Undeveloped Research Park Space
Issues to Address
Low Entrepreneurial Support
Missing Workforce Skills
Possible Federal Government Budget Cuts
Atlantic County
U.S.
1 Year
5 Year
10 Year
1 Year
5 Year
10 Year
Growth Growth Growth Growth Growth Growth
(12-13) (08-13) (03-13) (12-13 (08-13) (03-13)
x
x
x
x
x
x
x
x
x
x
x
x
x
Average Yearly Income
2.5
5%
3%
1.5
1%
-1%
0.5
-3%
$65
-5%
$55
Thousands
Thousands
$95
$85
$75
$45
Drone and National Defense Employment
Airport Related Employment
Y2Y Employment Growth
Atlantic County
New Jersey
U.S.
Atlantic County | 39
Life Sciences
The life science industry is defined by services, products,
and activities broadly related to the research and
sustainability of organic life. This broad definition
encapsulates a vast range of opportunities for Atlantic
County. The life science sector offers two strong
directions for Atlantic County economic development understanding and improving the health of residents and
understanding and sustaining the ecosystem within the
region. The strong presence of an emerging health care
industry and the remarkable pinelands and wetlands
environments makes both strategic approaches viable in
Atlantic County.
Mature/Core Target
Retirement and Assisted Living
Vaccines/Pharmacology
Diversification Targets
Wellness Center
Medical Tourism
Kinesiology and Geriatrics
Emerging Targets
Marine Biology and Eco-Studies
Sports Medicine
Aging populations, improved medical treatments, and changes in payment systems will make
healthcare spending more efficient and also spur innovation and reform.
Alternative medicine services could also be combined with holistic services. Strong health
employment numbers, leading health industry players, recent infrastructure and Atlantic Countys
geographic location amidst a very large driving range population offer an opportunity for
advancement of the Life Sciences sector. Every effort should be made to grow significant
university and private R&D in this field.
The county offers green settings and slower-paced atmospheres conducive to holistic health
services that treat the whole patient mind, body and spirit. Atlantic City holds potential to
become a regional location for specialized medicine medical tourism.
While healthcare is an important component of life science, the preservation of ecosystem is also
vital. The pinelands and the wetlands regions have played their role throughout the history of
Atlantic County in attracting residents looking to escape the hustle and bustle of metropolitan life.
Atlantic County | 40
Life Sciences
The environment therefore has played a crucial role in shaping the culture and identity of the
county. University and college partnerships should be pursued in order to facilitate research and
conservation of the countys most unique resource.
One of the most exciting opportunities open to Atlantic County is the possibility of establishing a
major center there for climate change research. The U.S. Environmental Protection Agency has
determined the Mid-Atlantic Region to be a critical area due to high sea-level rise. Princeton
University reports on climate change lend credence to the idea of Atlantic City as an
international headquarters for climate change research. Architecture giant Perkins+Will has
proposed using Atlantic Citys empty infrastructure as a research center for climate change and
coastal resiliency. Increasing R&D activity would be of great benefit to the region and could help
redefine the area as a center for ocean related studies. Every effort should be made to turn this
research activity into a reality.
Current wage averages in life sciences are not high in Atlantic County, and the average income
trend has leveled off since the recession. Income levels in this field are growing in both New
Jersey and the U.S., creating significant potential for higher future wages in the local sector.
Atlantic County | 41
Life Sciences
Competitive Assets:
Proximity to Ocean/Marine Life
Specialty Agriculture
Current and Planned Educational Facilities
Stockton Medical Curriculum Development
Strong Medical Facilities
Low Land and Real Estate Costs for
Northeast
Key Opportunities
Medical Tourism
Specialty Clinics and Fields of Care
Location for Marine Biology School
Geisinger/Atlantic Care Merger - Medical
School
Shore Medical Center, Bacharach Institute
for Rehabilitation
Issues to Address
Low Entrepreneurial Support
Deteriorating Infrastructure
Declining Populations
Low Entrepreneurial Support for Supply
Chain
Atlantic County
1 Year
5 Year
10 Year
Growth Growth Growth
(12-13) (08-13) (03-13)
x
x
x
x
x
x
Average Yearly Income
100%
12
10
50%
8
6
0%
Thousands
Thousands
U.S.
1 Year
5 Year
10 Year
Growth Growth Growth
(12-13 (08-13) (03-13)
x
x
x
x
x
x
x
x
x
x
x
x
$65
$60
$55
$50
$45
2
0
-50%
$40
$35
Care Facilities
Office and Administration
R&D
Y2Y Employment Growth
Sources: Bureau of Labor Statistics
Atlantic County
New Jersey
U.S.
Atlantic County | 42
Tourism
The Tourism sector is by far the leading source of
employment in Atlantic County, with 48,000 workers and
$1.4 billion in payroll in 2013. There is more than 7
million sq. feet of infrastructure already in place
supporting tourism businesses. Casinos have boosted
annual wage averages in Atlantic County above those
paid in the sector in New Jersey and the U.S., but at an
average annual of $28,000, wages are still low.
Developing service sectors with higher-end products will
help raise wages for new businesses above the current
average.
History proves that Atlantic County has vast potential for
the better development of tourism industries not related
to gambling and casinos. Atlantic Coast beaches,
historical boardwalks, preserved wetlands and forests, an
underutilized airport and culturally rich cities and towns
add up to significant attraction points for those looking
for a vacation location or mid-week get-away.
Mature/Core Target
Sports and Sports Events
Eco-Tourism
Diversification Targets
Gaming (Non-Casino)
Tour Packages
Festivals and Events
Emerging Targets
Aqua-Tourism
Agri-Tourism
Atlantic City is an established destination. Expanding tourism seasons by moving activities indoors
and better developing outdoor winter sports is important. Tennis and soccer competitions can
easily be moved indoors during inclement weather. The name recognition and accepted
destination location attached to Atlantic City make it a good choice for corporate indoor theme
parks. Unoccupied oceanfront infrastructure could be repurposed to indoor parks with attached
hotel space.
Also important is connecting the attractions and activities of all the municipalities together into a
well-marketed marketing package. Brochures should be developed seasonally and according to
interest. Regional information should be available and easy to find at all major portals and tourist
gathering places rental car agencies throughout New Jersey and Pennsylvania, hotels in the
region, at conventions and special events, in public offices, etc. A website should be created
devoted to cultural, social and sports activities that provides information on all sites and current
activities within the Atlantic County region, along with GPS location options.
One of the most important changes to the promotion for Atlantic County should be in developing
a tourist office in or around the Philadelphia airport portal and rail station. There is currently very
little, if any, information on Atlantic City and Atlantic County available to travelers who fly into the
area. There appears to be no highly visible coordinated transportation from the airport to
downtown Atlantic City. Having a colorful, well-organized connection to Atlantic County at the
flight portal will be critical in promoting the tourism opportunities of the region.
Atlantic County | 43
Tourism
Atlantic County Snapshot Dashboard
2013 Employees: 48,000
2013 Total Payroll: $1.4 billion
2013 Establishments: 1,100
2013 Average Wage: $28,300
Current Total Sq. Feet: 7.4 million
Key Opportunities
Redevelopment/Repurposing Options
Expanded Flights at International Airport
Issues to Address
Low Entrepreneurial Support
Deteriorating Infrastructure
Current Negative Perception of Atlantic City
No Deep Port Access
Winter Weather Limitation
Transitions Workforce
Tourism
Entertainment
Ecotourism
Sports Tourism
General Tourism
Atlantic County
U.S.
1 Year
5 Year
10 Year
1 Year
5 Year
10 Year
Growth Growth Growth Growth Growth Growth
(12-13) (08-13) (03-13) (12-13 (08-13) (03-13)
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
Thousands
60
50
40
30
20
10
0
4%
2%
0%
-2%
-4%
-6%
-8%
Thousands
Competitive Assets:
Quality of Life and Natural Beauty
Beaches, Boardwalk, Golf
Pinelands/Wetlands
Historic Name Recognition of Atlantic City
Blueberries, Cranberries, Wine and Other
Ag
Casino Gaming and Entertainment
Proximity to Major Cities
Quaint Seaside Towns
Combined Historic and Cultural Attractions
Available Workforce
$32
$30
$28
$26
$24
$22
$20
Entertainment
Ecotourism
Sports Tourism
General Tourism
$18
$16
Atlantic County
New Jersey
U.S.
Atlantic County | 44
Specialty Manufacturing
Things are looking up in manufacturing sectors around
the world. Technical innovations are continually driving
the industry toward smaller processes. 3D printing
technology has opened up the manufacturing industry to
new participants. No longer is it necessary to have
hundreds of thousands of dollars-worth of equipment to
design and produce prototypes. Shared maker spaces are
allowing individuals and small businesses to get
prototypes in front of investors affordably. This is leading
to more innovation, smaller infrastructure requirements
and a trend toward decentralized manufacturing hubs.
Very little specialty manufacturing currently occurs in
Atlantic County. BLS reveals only 60 businesses engaged
in the sector, with less than 1,000 employees. Average
annual wages earned by specialty manufacturing workers
in the region are low and falling. Taking advantage of a
new era of product development and improving design
and technology skills can lead to better manufacturing
jobs and wages.
Mature/Core Target
Boat MFG. Parts, and Supplies
Pharmaceutical Compounding
Diversification Targets
Specialty Foods
Foods and Beverage Processing
Chemicals
Emerging Targets
Aircraft Parts and Design
UAV MFG, Parts and Design
Product Design and Prototypes
Atlantic County | 45
Specialty Manufacturing
The FAA William J. Hughes Technical Center, drone test site designation, and the Atlantic County
airport are key assets for the development of specialty manufacturing. Businesses have the
opportunity to partner with the FAA facility and leverage their testing facilities and research data
in building new components related to aviation and flight control. The designation of the county
as a drone test site creates for a convenience factor for manufacturers due to the opportunity to
test prototypes in their backyard. Finally, AngelouEconomics recommendation of encouraging
maintenance and repair operations within the Atlantic County airport will create a necessity for
aviation components and parts. Proximity to the airport, as well as a number of large airports
within the North East can help foster a supply chain network within the region.
There are many strong opportunities for new specialty manufacturing entrepreneurial businesses
in Atlantic County. Aeronautical research and technology related product manufacturing leverages
the new Stockton Aeronautics Research and Tech Park and the incomparable FAA asset.
Innovative food startups and food preparation and manufacturing leverage the name recognition
of casino chefs, the off-season festival capability of infrastructure, and the strong local culinary
programs. Expanding craft breweries and wineries leverage the superior regional water quality, tie
into tourism strategies and leverage the existing popularity of Irish festivals in Atlantic City.
Atlantic County | 46
Specialty Manufacturing
Atlantic County Snapshot Dashboard
2013 Employees: 900
2013 Total Payroll: $31 million
2013 Establishments: 60
2013 Average Wage: $35,800
Current Total Sq. Feet: 1 million
Competitive Assets:
International Airport Capacity
Regionally Low Real Estate Prices
Educational Assets for Workforce Training
Logistical Advantage to Key Markets (Lower
Freight Costs)
Comparatively Low East Coast Real Estate
Prices
FAA/UAV Test Facilities
Private FAA-Linked Research Park
Local Commercial Parks
Key Opportunities
Air Cargo Expansion at Atlantic City Airport
Specialty Agriculture
Collaborative Private/College and
University Research Funding
Issues to Address
High Level of State Regulation/Taxes
Lack of Business Leadership
Predominantly Unskilled Workforce
Atlantic County
U.S.
Specialty Manufacturing Market 1 Year
5 Year
10 Year
1 Year
5 Year
10 Year
Segment Employment Growth
Growth Growth Growth Growth Growth Growth
(12-13) (08-13) (03-13) (12-13 (08-13) (03-13)
Specialty Manufacturing
x
x
x
x
Food and Agriculture
x
x
x
x
x
Aerospace and Transportation
x
x
x
Life Science Manufacturing
x
x
Market Segment Employment
60%
40%
800
20%
0%
400
-20%
-40%
-60%
Thousands
1,200
Atlantic County
New Jersey
U.S.
Atlantic County | 47
Entreprenuerial Services
Businesses and the people who start them and work
for them create jobs and compete in the global
marketplace. Atlantic Countys ability to diversify and
achieve economic success depends largely on the smart,
creative people and new ideas that will keep the region
vibrant.
Atlantic County currently has very little in the way of
support for entrepreneurs. If the region is going to step
up its level of competitiveness, stakeholders will need to
devote serious attention to developing policies and
investments that foster smart people, smart ideas and
the right environment to promote innovation. To get
started, the ACEDC should:
Create investment in (R&D) funds
Support educational institutes that produce cuttingedge research and a skilled workforce
Invest in commercializing new discoveries and
technologies that lead to new products and new
companies.
Mature/Core Target
Accounting/Data
Processing/Financial
Call Center
Diversification Targets
Engineering, Computer, and
Design
Cyber Security
Emerging Targets
Travel, Convention, and Event
Support
Programming and Gaming
Special Skills Schools
Atlantic County has a population of active foreign-born entrepreneurs that run small businesses of
all kinds, but primarily turn their attention to retail. A wider range of entrepreneurial endeavors
should be fostered, with attention paid to the target industries the region hopes to attract.
Engineering, computer, design and technology businesses will help grow aeronautics and avionics,
medical services and specialty manufacturing industries. They will also help cultivate the birth of
gaming companies that can help Atlantic City increase its reputation for non-casino gaming.
Current entrepreneurial companies provide one of the highest average annual wages in the
region. With an average in excess of $63,000/year, the entrepreneurial workforce wage is second
only to aeronautics and aviation, and wages in the sector appear to be on a positive rise. More
than 6,000 people in Atlantic County currently earn their livings based on the innovation of
hardworking, successful small business concerns.
Atlantic County | 48
Entrepreneurial Services
Competitive Assets:
Quality of Life
Educational Facilities for Business Training
Proximity to Major Cities
Emerging Creative Cities
Existing Nucleus of Successful Foreign-Born
Entrepreneurs
Room for Successful Businesses
Development
Key Opportunities
Regional Plan to Attract New Industries
Development of Live/Work Environments
Underdeveloped Supply Chains
Issues to Address
Low Entrepreneurial Support
Lack of Industry Diversification
Lack of Adequate Incubators/Accelerators
Lack of Co-working Space
Atlantic County
U.S.
Entrepreneurial Services Market 1 Year
5 Year
10 Year
1 Year
5 Year
10 Year
Segment Employment Growth
Growth Growth Growth Growth Growth Growth
(12-13) (08-13) (03-13) (12-13 (08-13) (03-13)
Entrepreneurial Business
x
x
x
Services
Insurance and Financial
x
High Tech and Design
x
x
x
General Business Services
x
x
x
Marketing and Promotion
x
x
Average Yearly Income
10
6%
8
1%
-4%
Thousands
Thousands
$100
$90
$80
-9%
$70
-14%
$60
$50
$40
Atlantic County
New Jersey
U.S.
Atlantic County | 49
Cost of Operations
Cost of Operations
After identifying target industries for Atlantic County economic development, AE further studied
the comparative costs associated with operating three companies within the targeted sectors in
Atlantic County and other appropriate benchmark areas. It is important to understand the costs
associated with opening target industry niche businesses in Atlantic County to determine the
extent of competitiveness that exists and to see where policies need to be implemented to level
the playing field. Further Cost of Operations detail on the three businesses is provided in the
Appendix.
Call Centers
When compared to benchmark locations of Dubuque County, IA; Erie County, PA; Roanoke City,
VA; and Washoe County, NV, Atlantic County was not a competitive location for a call center, and
had the highest annual cost of operation at an estimated $6.6 million compared to Dubuque
County, which had the lowest annual cost estimate of $5.5 million. Atlantic Countys highest
operating were for employee payroll and benefit packages. Taxes and utilities were also
significantly higher than average in Atlantic County for those companies. Atlantic County had an
advantage in building/lease payments over three of the four benchmarks. The County should
utilize state employment incentives to mitigate the higher payroll costs.
Food Processing
Research into costs associated with running a food processing plant in Atlantic County compared
to the costs of running that plant in benchmark locations of Dubuque County, Erie County,
Roanoke City and Houston County, GA found that, again, Atlantic County proved to be noncompetitive with the highest estimated annual cost of $3.8 million compared to the lowest-cost
benchmark of Houston County, which had an estimated cost of $2.4 million. Once again,
employee payroll and benefit costs and utility expenditures in Atlantic County drove the operating
costs higher than that of benchmark locations. Interestingly, property taxes were lower in Atlantic
County than either Roanoke City or Houston County. The ACEDC and other marketers should
promote Atlantic Countys property tax advantage when targeting food processing companies.
Aircraft Maintenance and Repair
Atlantic County does show significant promise as a competitive location for an aircraft
maintenance and repair organization (MRO). This is likely the reason that both private and public
organizations have contacted Atlantic City airport authorities with interest in an MRO project in
the past. There is land space available at the Atlantic City airport that could be used as an MRO
location, although infrastructure would have to be built, including the creation of a taxi runway
linking the facility to the main airport runway and the warehouse facility where the work is done.
When compared to benchmark locations with an existing MRO Essex County, NJ; Queens
County, NY; and Philadelphia/Delaware Counties, PA Atlantic County reflected advantageous
cost factors for employee payroll and benefits, building costs/lease payments, and property tax.
The highest cost benchmark for an MRO was Queens County, estimated at $40.4 annually. The
lowest cost benchmark was Philadelphia, with an estimated annual operations cost of $30 million.
Atlantic County can offset some of its cost disadvantages by offering highly competitive lease
terms to MROs looking to locate in the north east.
Atlantic County | 50
Strategic Recommendations
Vision
Strategic
Plan
Target
Industries
Market
Assessment
Objectives
Strategies
Action Steps
Best Practices
Stakeholder
Engagement
Performance Metrics
Implementation Matrix
Armed with a solid understanding of the strengths and weaknesses of the Atlantic County market
area, the assets within its boundaries, the issues with which it struggles, and the industries the
region will focus on attracting, we are better equipped to take closer look at the mission, vision
and goals set by ACIA for the coming 10 years. During the market assessment phase of the
project, the ACIA staff and the steering committee reviewed and set a vision for the future that
establishes direction for the plan.
The underlying purpose for a new economic development strategic plan for Atlantic County is to
raise the level of prosperity enjoyed by businesses and area residents, therefore ensuring a higher
quality of life now and in the years ahead. To do that, Atlantic County aims to increase the
diversity of industries that support the region, building networks of supply chains and reducing
the risk that a downturn in any one industry will result in a significant impact on the region.
Atlantic County | 51
Strategic Recommendations
Atlantic County stakeholders look to the strategic
plan for regional guidance to build a businessfriendly and supportive environment, one that
helps existing companies grow and become more
successful. That environment will also cultivate
interest by new industries in moving into the
region with higher paying jobs to the area.
Mission
Sustain and diversify the
economy in order to provide a
high quality of life for all
residents.
Vision
Increase the tax base of
Atlantic County by enhancing
the business climate and
creating higher-paying jobs.
GUIDING OBJECTIVES
3
4
Strategic Recommendations
Atlantic County | 53
Create a Public/Private
Economic
Development
Corporation
Strategy 2
Develop Local
Partnerships
Strategy 3
Improve Regional
Communication and
Planning
Strategy 4
The problem with this lack of cohesive strategy is that economic development is a local business.
Each region must be aware of the assets and opportunities within its boundaries and be
aggressive in marketing them to the world at large. With little knowledge of the economic
direction of Atlantic County, the New Jersey EDA lacks impetus to deliver possible industries to
the local region rather than to some other area in the state.
When the Atlantic City casino industry collapsed in 2014, the true cost of the lack of high level
economic planning became apparent. To catch up with the rest of the world and turn around
negative trends in unemployment, poverty and insufficient budget funding, Atlantic County
businesses and residents must quickly bind together in a shared plan for strategic economic
development and use the strength of partnerships to enter the international game.
The desperate focus on jobs has fueled counterproductive intraregional competition in New
Jersey, luring companies out of Atlantic County to take advantage of incentive opportunities
offered by the state in Camden County and other areas. Even within Atlantic County, communities
offer financial enticements or tax incentives to lure companies away from municipalities next
door in a short-sighted attempt to undercut their neighbors and shift more businesses and jobs
within their own borders.
This is a zero-sum game between economic development players that should be wielding greater
power by playing on the same team. New industries must move into Atlantic County and new jobs
must be created. The businesses, residents, cities and economic development organizations
within Atlantic must commit to a strong plan for regional strategy.
Atlantic County | 54
Chambers of Commerce
Reducing support for traditional economic development activities
Increasing focus on providing community development and tourism related
services
Local Governments
Continued focus on facility and infrastructure development with emphasis on
downtown redevelopment and neighborhood revitalization
Atlantic County | 55
Key Actions
A) Create a EDC Board
B) Develop a Governance Agreement
C) Establish an Independent Office
D) Determine Organizational Setup
and Staffing
E) Establish Initial Budget
Developing a regional
framework that focuses on a
clear, cohesive, and unified
economic development
strategy projects a positive
business environment to
outside firms, while
encouraging the expansion
and retention of existing
businesses.
- National League of Cities
The first action in accomplishing the Atlantic County Economic Development Corporation will be
to establish a board of experienced talent from within the region that can work together to
create, staff and fund the new corporation.
Atlantic County | 57
Best Practices
Code of Ethics
Metro Denver Economic Development Corporation
The Metro Denver Economic Development Corporation has an estimated 70 cities, counties and
economic development organization members. MDEDC requires each of its members to sign a Code of
Ethics agreement that outlines rules to prevent unhealthy competition between regional communities.
There is a strong commitment to regional cooperation, and MDEDC members are strongly encouraged
to sell Metro Denver first and our individual communities and projects second. Selling against other
localities within the metro area in order to attract prospects is explicitly discouraged and members are
forbidden to solicit another members prospects.
In the Code of Ethics, information sharing and transparency are paramount. If a company intends to
move from one locality to another within the region, members are expected to contact the affected
community and inform them of the potential move. Members that cannot meet the needs of a
business prospect are encouraged to pass it along to a regional partner that can.
Response by prospective companies has been extremely positive. They cite having a single point of
contact as a major advantage.
For more information visit: http://www.metrodenver.org/
Atlantic County | 58
Office Manager
Communications Manager
Director of Research
PR Firm on Retainer
Atlantic County | 59
Amount
$780,000
Website
$35,000
Collateral Material
$25,000
$25,000
Marketing Budget
$200,000
Office Space
$150,000
$100,000
$90,000
$1,405,000
As the ACEDC establishes its reputation in the region with both public and private leadership,
additional financial resources should be added to boost the marketing budget to more than
$500,000.
MSA
Populatio
n
Budget
Per
Capita
Greater Austin
Chamber of
Commerce
885 K
1.9 M
$4 M
Charlotte Regional
Partnership
793 K
2.3 M
Greater Phoenix
Economic Council
1.5 M
56 K
Organization
Pflugerville
Community
Development
Corporation
Public
Approp
riation
Inves
tors
$4.5
$3.6 M
$4.5
4.3 M
$5.3 M
$3.5
56k
$2.2 M
$39.3
Public
Tax
Other
Atlantic County | 60
Best Practices
Funding Economic Development Efforts
Select Greater Philadelphia
Select Greater Philadelphia is a supra-regional marketing organization representing 11 counties in 3
states using primarily private sector funds. The organization is well-funded and enjoys the support of
every economic development agency in its area to support marketing and collaborate effectively.
The first phase of the program focused on fundraising, raising $16 million to cover a four-year period to
support the start-up nonprofit organization. Roughly 90% of funding was raised through the private
sector. The second phase of the organizations founding has been focused on business attraction,
targeted marketing and research.
The organization and its fundraising and attraction activities are supported by a strong, well-powered
website that offers clear, coordinated information on the region, target industries and success stories.
For more information visit: http://www.selectgreaterphiladelphia.com/
Atlantic County | 61
Key Actions
As a first step ACEDC should establish an Implementation Committee, name a chair and co-chair
for the following major thrusts called by the strategic plan: 1) Creation of the ACEDC, 2) Drive
Economic Diversification, and 3) Marketing and Branding. The chair and co-chair of each
committee along with key partners and stakeholders will make the Executive Board (15 members)
responsible for the overall implementation of the strategic plan.
A&B) Identify and Engage Potential Economic Development Partners and Establish
Key Ambassadors
Economic development partners should be identified and approached by ACEDC to assume areas
of responsibility for the implementation of the strategic plan, and take control of organizing
others and ensuring the completion of actions within the specified timeline. Partners will also act
as ambassadors for the region in marketing and retention and expansion efforts.
Atlantic County | 62
Casino Reinvestment
Development Authority
Greater Atlantic City Chamber
Rutgers University
Hammonton Chamber of
Commerce
Districts
Atlantic County Utilities Authority
AtlantiCare
Best Practices
Celebrating Small Businesses and Economic Development Partners
Sarasota County, FL
Now in its 25th year, The Frank G. Berlin, Sr. Small Business Awards recognizes member businesses and
individuals with locally owned and operated companies and organizations in eight categories. Named in honor
of the late Frank G. Berlin Sr., whose legacy in the community and untiring support of The Greater Sarasota
Chamber of Commerce epitomized the hopes and dreams of contemporary business entrepreneurs.
Best of the year awards are given for different sized Small Business, Young Professional, Cultural Organization,
Retail Business, Healthcare/Wellness Organization, International Organization, and Non-Profit Organization.
Awards could be extended in Atlantic County to Economic Development Partner of the Year in various
categories. Additionally, new economic development partners and new entrepreneurial businesses could be
recognized.
For more information visit: www.sarasotachamber.com
Atlantic County | 63
Key Actions
A) Understand Partner Economic
Development Goals and Objectives
B) Create an Informal Atlantic County
Regional Council of Planning
Departments
C) Launch a Regional Community
Website
The key to strong regional planning is the design of a plan that encompasses the vision of major
stakeholders and succeeds in getting all businesses and organizations moving in the same
direction toward common understood goals.
A) Understand Partner Economic Development Goals and Objectives
Quickly overcome silo culture by clarifying the goals of potential economic development partners,
and show that those goals are woven into the regional strategic fabric. Identify allies that can
collaborate in strategic areas and meet with them to engage them in the process.
B) Create an Informal Atlantic County Regional Council of Planning Departments
Create an Informal Regional Council of Planning Departments. In an effort to improve regional
planning, ACEDC should help develop an effective informal Council of Planning Departments that
includes representatives from all active municipal planning departments and committees. The
Council will communicate regional planning activities, and coordinate the many economic
development efforts now underway and planned for the near future. The group of active planning
leaders can ensure high-level planning and streamline development processes. The Council should
include:
Representatives from all active municipal economic development planning departments
ACEDC Staff
County Economic Development Staff
Atlantic County | 64
Best Practices
Community Events Website
Do512, Austin, TX
From concerts and happy hours to film and special events, Do512 is the place to find out what's
happening in the regional Austin area. More than 300,000 people use the site every month to find out
the options.
The site features rankings of popular upcoming events and special categories, such as What to do with
the Kids, Best Trivia Sites, and Free Things to Do Today. It allows registered users to add events,
subject to the review of a site manager. Registration is free and easy to accomplish. Personal calendars
allow users to link activities to friend groups.
The site is connected to social media, including facebook and twitter. A phone app makes it easy to use
while on the go.
The addition of local attractions, parks and venues and GIS location information would make this type
of site a good way to keep residents and businesses throughout Atlantic County connected and up-todate.
For more information, visit do512.com
Atlantic County | 65
Key Actions
A) Hire a PR Firm to Create Regional
Brand
B) Develop Marketing Collateral
C) Create an ACEDC Website
D) Conduct Marketing Trips and FAM
Tours
E) Publish a Regional Newsletter and
Annual Economic Development
Report
It is time for Atlantic County to own a bold, fresh image for the region as a whole based on its
varied communities and collective assets. A professional PR firm can assist the ACEDC in
developing a new regional brand that brings a new picture to the eyes of the world. Some of the
first steps in branding Atlantic County should include:
Establish clear, coordinated Atlantic County portals and entryways
Set up an Atlantic County shop at or in the vicinity of the Philadelphia Airport filled with
regional information, tourist packages and transportation options to Atlantic City.
Best Practices
Developing a Cohesive Regional Brand
Kansas City
The Kansas City Area Development Council (KCADC) initiated a two-pronged campaign to promote the
greater Kansas City region as a unified economy. City, county and business leaders chose to focus on a
simple asset, the regions easy-to-remember two-letter initials, KC. Through an aggressive marketing
campaign that included 150 presentations to local groups and the use of 20 billboards, KCADC
promoted the KC initials as a common identifier for the region and a way to position Kansas City as a
preeminent urban area, amongst only three other U.S. cities known nationally by their initials: New
York, Los Angeles, and Washington, D.C.
ThinkKC is the KCADCs national marketing and branding campaign, promoting the region as a top U.S.
city for attraction of new companies, jobs, and residents. It is a good example of a campaign that
successfully promotes regional cohesiveness and publicizes the economic, social, and cultural
interdependence of the many jurisdictions that make up the Kansas City region.
KCADC has a Branding Toolbox on its website that provides official campaign logos in a downloadable
graphic format, with many variations, including logos for each of the regions 18 counties and 45
municipalities. This makes it easy for each individual community to simultaneously promote itself and
the greater Kansas City region.
For more information visit:
www.thinkkc.com
Atlantic County | 66
Best Practices
Economic Development Branding Campaign
Port Arthur Economic Development Corporation Port Arthur, Texas
The project is a paid advertising campaign with focus on site selector magazines and billboards in the
Houston market area. The advertising campaign was created to help PAEDC attract both regional and
global decision makers, especially those in the logistics industry.
The goal is to raise awareness of what Port Arthur has to offer and why companies should relocate
there. In 2013, the PAEDC board of directors added a marketing manager position to its staff to
accomplish the task, knowing that small businesses were an economic engine important to the region.
The organization credits the campaign with helping to create jobs and opportunities necessary to the
communitys goals in growth.
Supplementing the campaign, advertisement Build It, Ship It, Rail It in Port Arthur was focused on local
business attraction using social media outlets, including Facebook LinkedIn and Instagram.
For more information, visit: http://portarthuredc.org/
Atlantic County | 67
Best Practices
Site Selector Marketing
Lubbock, TX
Lubbock Economic Development Alliances LEDA Site Selector marketing piece provides a one-stop
shop for site selectors, highlighting the benefits of relocating a business to Lubbock and how to do so.
The piece includes information on population, workforce resources, cost of doing business, housing
costs, transportation infrastructure, and real estate options. A tablet version of the piece allows LEDA
Business Recruitment Teams take their product offerings to clients.
For more information, visit: http://www.lubbockeda.org/
Best Practices
5000 Billboards Marketing Project
Lincoln Partnership for Economic Development, Nebraska
The Inc. 5000 Billboards project was a promotion by the public/private LPED to recognize local
businesses named in the 2013 Inc. 5000, a list of the fastest growing private companies in America. The
effort was one of the most successful retention campaigns celebrating local businesses. Billboards were
created featuring the organization executives with a congratulatory message from the Partnership,
thanking them for making Lincoln home. The billboards were placed along major thoroughfares and as
close as practicable to the company locations. The marketing initiative helped turn the limelight on
Lincoln as a great place for commerce whether for new companies, relocating industries or existing
local businesses.
Atlantic County | 68
Best Practices
The Greater Des Moines Partnership Website
Des Moines, Iowa
The Greater Des Moines Partnership is the economic and community development organization
serving Central Iowa. Together with 21 affiliate Chambers of Commerce and 5,300 business members
that employ a workforce of more than 150,000, the Partnership works to grow opportunity, create
jobs, and promote the best place to build a business, a career, and a future.
To further regional prosperity and global connectivity, the Partnership focuses on economic and
community development. Founded in 1888, the organization successfully works collaboratively with
regional economic development partners to recruit and assist new and expanding businesses, and to
ensure there is a talented and educated workforce that delivers valued skills. In 2014, the organization
raised $460 million in new capital investments, helped 23 local businesses expand and 10 new
company locations. It runs a very effective, state-of-the-art website with page clicks for business
climate, target industries, building sites, talent development and every aspect of economic
development.
Atlantic County | 69
Best Practices
Epic Iowa Bus Tour
Iowa Tourism Office
In 2014, Iowa Tourism Department launched the Epic Iowa Road Trip, a whirlwind bus tour to show off
the state, picking out hot spots for people to visit.
Staff on the motor coach used social media channels to talk about the places they visited, with live
photos and activities.
The Iowa Tourism Offices goal is to show people in the region what there is to do, at home in Iowa.
Many communities depend on visitors and the money they spend.
Tourism is big businesses for Cedar Rapids. It employs over 6,000 people, and it generates about $400
million annually of people coming and spending money and time in our community, said Cedar Rapids
Area Convention and Visitors Bureau CEO Marilee Fowler.
While the Iowa bus stuck to a route in the state, a similar promotional road trip by Atlantic County
could extend to surrounding states, reminding people of the destination factor of the county with a
theme to Vacation at Home in Atlantic County.
Best Practices
Familiarization Tours
Des Moines, IA
FAM tours are intended to familiarize investors, the press and travel trade professionals with the
attractions of a particular area, and last year Des Moines gave a unique twist to this traditional idea by
hosting a weeklong bicycle tour across Iowa. RAGBRAI, as the tour is known, exposed participants to
Iowa hospitality, local cuisine and much else that makes the state unique. Careful event planning,
covering everything from bike maintenance and luggage shipping to communication of attractions
along the route, ensured a smooth ride. The FAM tour is tied into a larger outreach to site selectors.
For more information, visit: http://ragbrai.com/
Best Practices
Business Park Shell Building Virtual Tour
Kilgore EDC - Kilgore, Texas
The project involved the development of a virtual tour of available space in a shell spec building at
Kilgores Synergy Business Park, including aerial video and stunning animation showing ceiling heights,
parking spaces and adjacent infrastructure.
The highly successful promotional tool could be adaptable to marketing the developing Stockton
University Aeronautics Research and Technology Park and planned incubator next to the Federal
Aviation Administration.
Atlantic County | 70
Best Practices
E-Newsletter
Henderson, Nevada
Hendersons Economic Development/Redevelopment Division leads economic development
programing intended to create a healthy economy through attraction, retention and expansion of
businesses and through revitalization. The e-newsletter is a low-cost communication tool in support
economic development strategies and programs. Each issue provides timely information on:
Business recruitment, attraction and retention
Highlights economic development success stories
Outreach in support of community economic development initiatives.
For more information, visit:
Best Practices
Annual Economic Development Report
City of Hamilton, Ohio
Hamiltons 2013 Annual Economic Development Report is an 18-page document illustrating economic
development achievements made throughout the year. Years of continuous budget cuts in the city had
the unfortunate effect of largely ending the important task of measuring its effectiveness and reporting
these outcomes publicly. Under new leadership, the ED Department was reinstated and emphasis
shifted to economic development based on outcome-oriented strategies. The annual reports highlight
measurable outcomes of strategic initiatives. It offers transparency and evaluate strategies.
The report also publicizes economic growth and progress. As a Rust Belt city known for decline, the job
growth, new capital investments and decreasing unemployment rate are crucial to communicate to
stakeholders that Hamiltons economy is alive and momentum is building.
Atlantic County | 71
Strategy 1
Strategy 2
Embrace a Robust
Retention and Expansion
Program
Strategy 3
Foster a Strong
Entrepreneurial
Ecosystem
Atlantic County | 72
Key Actions
A) Create a Regional Target Industry Task Force
Game Changer:
Become a Global Center for Research on Climate Change.
Leverage a growing international focus on coastal sensitivity and sea-level rise in the
Mid-Atlantic Region along with Atlantic Countys geographic location and available
infrastructure in Atlantic City to establish a name for the region as an important center
of research.
Game Changer:
Build a World Trade Center or Permanent Trade Show
Build a WTC in Bader Field, or repurpose the Old Convention Center as a Trade Market
Center. One of the highest possible uses for the prime Bader Field property would be to
use it to establish an international center for Atlantic County. With water access and
proximity to downtown and major Atlantic City activity areas, it is a perfect site for a WTC.
Check into the option of working with the WTC of Philadelphia.
The historic beauty of the old convention center and its superlative location steps from the
Atlantic Ocean make it deserving of world-class purpose. Ease of European flights and the
regions existent Asian immigrant population give the region an extra shot of energy in
establishing this type of global presence.
Atlantic County | 73
Best Practices
Monterrey World Trade Center
Monterrey, Mexico
Established in 2005 as a non-profit organization, the WTC Monterrey is recognized as an International
Trade Hub in the state of Nuevo Len. It is located on a university campus, in a beautiful building with
all accommodations needed to hold business meetings, counseling and training seminars. The center
showcases local industries - Technology, Financial and Professional Services, Automotive, Capital
Projects and Infrastructure, Engineering, R&D: Architecture and Construction and Industrial
Manufacturing. Facilities include an auditorium, seminar and meeting rooms and temporary office
space.
Trade information and market research, trade counseling, referrals and business management services
are offered.
For more information, visit: https://www.wtca.org/world-trade-center-monterrey
World Trade Center
Monterrey, Mexico
Atlantic County | 74
Atlantic County | 75
Atlantic County | 76
Key Actions
A) Visit Top Employers and Significant
New Entrepreneurial Businesses
B) Conduct Regular Business Surveys
C) Sponsor Small Business Awards
Events
When visiting businesses, find out how their location in Atlantic County is working well for them
and giving them a competitive edge. Find out what issues they are experiencing. Determine their
plans for the coming five and 10 years, including foreseen expansions and reductions. Find out
what skill sets and positions they have trouble recruiting and how they see those changing in the
future. Determine how the ACEDC and its economic development partners can help ensure their
expansion and growth.
Atlantic County | 77
Best Practices
Business First Annual Report Greater Richmond Partnership, Inc.
Richmond, VA
Business First Greater Richmond is the business retention and expansion program of The Greater
Richmond Partnership, the economic development organization representing the City of Richmond and
the Counties of Chesterfield, Hanover and Henrico, Va.
The Business First Greater Richmond annual report is the result of 571 interviews between program
volunteers and local company decision makers. The information gathered from these interviews helps
us determine the needs of the company and understand the regions business climate. The Business
First program relies on the local economic development agencies to organize and rally teams of
volunteers.
The annual reports gatefold interior pages reveal the past fiscal years results, making it a selling point
for participating businesses and volunteers alike.
The brochure also reports details regarding the programs results, successes and awards it has
received.
Best Practices
Business Retention & Expansion Tools
Synchronist Prime
Synchronist PRIME bundles advanced business retention strategies, tested interview design, assistance
tracking/service delivery management, competitive intelligence, intranet/extranet and database
technology (software), BR|E resource library, and a community of committed users all working together
to maximize the value of their BR|E investment.
Synchronist PRIME was designed for use with primary sector that import capital into the community from
outside the region while providing employment. These international, national, and regional primary
sector businesses are the basic economic building blocks of manufacturing, finance, and service of many
communities in the U.S. and Canada. Secondary (retail and service businesses) sector businesses are
fundamentally different. Secondary businesses essentially trade dollars already in the community or
within a small regional trade area. These businesses generally represent a second level building block for
a local economy. For information, visit: http://www.blanecanada.com/product_synchronist_prime.html
Atlantic County | 78
Key Actions
A) Foster Innovation and Creativity
B) Create Incubators and Accelerators
C) Develop Makers Space
D) Increase Funding Sources
Atlantic County has a valuable asset in the Federal Aviation Administrations William J. Hughes Technical
Center. What is missing is strategic communication with the center and a partnership focused on the
translation of research conducted there into opportunity for commercialization and the creation of
innovative new entrepreneurial companies. While government agencies arent known for the ease
with which they share information, bringing research-related products to commercialization could
benefit FAA activities, and a careful long-term relationship would be of great benefit to both the
economic development of the county and the progress of the FAA and the Stockton Aviation
Research Technology Park.
Game Changer: The FAA William J. Hughes Technical Center has been
designated as the lead UAV testing site of the six sites selected in the U.S. This provides
Atlantic County with an advantage that few other areas in the U.S. have, a foot in the door
into a burgeoningly exploding industry. Economic development partners in Atlantic County
must take ownership of this achievement and build clustering around it before it loses the
natural opportunity. A key component to this would be organizing UAV trade shows and
competitions. The hobbyist and DIY nature of the industry has resulted in user
modifications to code and hardware. Specialty manufacturing opportunities also exist.
Atlantic County | 79
Initially, focus entrepreneurial support and guidance on companies that leverage major
community assets:
Independent Aeronautics Research and Technology Companies These companies leverage
the emerging Stockton park and help foster the incubator designed for location there.
Food Startups These new companies leverage the legendary casino chefs in Atlantic City
with the strong culinary programs offered by Stockton and the Atlantic Cape May Community
College. These creative new food trailers and brick and mortar restaurants will also help
attract foodie tourists, re-brand the area and provide an opportunity to launch a major annual
food festival not necessarily tied to summer months.
Work with public schools to foster STEM education. Establish internships for high school and
college/university students in STEM areas. Work with local companies to sponsor robotics
activities and competition participation, starting with high schools and working back to middle
and elementary levels.
Atlantic County | 80
Best Practices
Start-Up NY
This statewide collaboration between public and private universities and state and local governments is
one of the most forward-looking and heavily marketed incentive programs for entrepreneurs in the
nation. The program aims to increase innovation and entrepreneurship by offering a 10-year 100%
state and local tax exemption for qualifying small businesses and start-ups operating on or near
university campuses. Additionally, the proximity to universities is designed to inspire collaboration
between these small businesses and academic institutions.
For more information, visit: http://startup.ny.gov/
Best Practices
Entrepreneurial Ecosystem Development Program
Economic Development Authority of Western Nevada Reno, Nevada
The Economic Development Authority of Western Nevada is a private/public partnership established in
1983 to recruit, expand and support newly forming quality companies that bring jobs to the region.
EDAWN built an entrepreneurial development program tasked with building an ecosystem from the
ground up, creating new jobs and fostering technology startups with a focus on forging a new direction
for Reno.
Reno has been known as a gambling town, but in 2008, the housing market crashed and gaming
revenues fell drastically. Reno found itself tethered to a decaying downtown and a dominant industry
in steep decline. During this period of economic turmoil, Reno built immense opportunity by
recognizing that the region lacked the entrepreneurial sophistication of established start-up hubs. It
also recognized that the city faced an identity crises as it faced the decline of casino gaming. A new
Entrepreneurial Development program was designed to focus on job creation through entrepreneurial
encouragement and support.
Atlantic County | 81
Game Changer:
Game Changer:
Best Practices
Creating a Regional Entrepreneur Organization
North Carolina
The Blackstone Entrepreneurs Network was created in 2011 with the purpose of developing
entrepreneurship and furthering economic development in the Triangle region of North Carolina. The
Networks Entrepreneurs in Residence program partners veteran entrepreneurs with promising
regional startups. These partnerships provide expertise, networking, funding sources, and marketing.
Additionally, the network partners extensively with local academic institutions and communities as well
as providing conferences and panels.
For more information, visit: http://www.blackstoneentrepreneursnetwork.org/
Best Practices
The Food Loft
Boston, Massachusetts
Cookbook publishing company The Harvard Common Press has created coworking space on Harvard
Square in Boston, dedicating space to food and food tech companies with innovative food ideas. The
space currently serves 11 companies, including Badepedia, Nosh On It. Chefd Up, which connects
consumers with Bostons most recognized chefs, and Cabbige, a technology company dedicated to
strengthening local, sustainable food systems.
For more information, visit: http://www.thefoodloft.com/
Atlantic County | 82
Best Practices
Here East Innovation Center
Repurposed Olympic Center, London, England
Utilizing the former Olympic Press and Broadcasting Centre in Queen Elizabeth Olympic Park, Here East
is a planned innovation and maker complex with over 1.2 million sq. ft. of commercial space that is
working to break the trend of underutilized Olympic infrastructure. The joint venture is a partnership
between Delancey, a real estate specialist, and Infinity SDC, UKs largest data center operator. The
planned complex will be built off of the three current warehouses in the Olympic Park: the broadcast
center, the press center, and an auditorium with open public space between the buildings.
The Broadcast Centre, the largest building of the three, serves as the base for the planned Here East
project. The 647,410 sq. ft. space will house Infinity SDCs data center which is expected to be the
largest and most efficient data center in Europe. The 198,000 sq. ft. Press Centre is now a 5 story space
for large tech businesses as well as an innovation center. The Innovation Centre will offer coworking
and incubation spaces for startups, along with mentoring
The former auditorium has been redesigned as The Theatre, a top of the line conference facility perfect
for product launches, screenings, and presentations. The architectural design hammers home the idea
of innovation through a future centric theme coupled with high ceilings. The facility has space to seat
950 individuals.
Public space is a key part of the Here East project. The Yard functions as a court yard space, designed
for public interaction and open event space.. The space is architecturally landscaped and features
dynamic artwork for the viewing public. Retail and dinning spaces line the sides of the courtyard,
providing visitors and occupants an opportunity to shop and eat. The Canalside, a garden area built off
of the Lee Canal, offers bars, restaurants, and maker-retailer spaces.
Although not fully built out, Here East is still a best practice. 40% of the 1.2 million sq. ft. space has
already been preleased, showing a strong interest in the complex from the tech community. According
to Forbes magazine, the space is expected to generate 450m to the British GDP and 340m within the
local community. 5,300 on site jobs are expected to be created due to the project, with another 2,200
in the local area and 9,100 positions across the UK. Yet, the success story of Here East is not its ability
to attract renters. It is its ability to create a vibrant technology center, built off of 2012 Olympic
infrastructure, which partners academia, startup, and large tech players all under an umbrella of
innovation.
For more information, visit: hereeast.com
Best Practices
International Accelerator
Austin, TX
The International Accelerator grows small international businesses and start-ups by providing them
access to a variety of services and industry experts. In addition to providing space and infrastructure,
the Accelerator also provides access to leadership, counseling, banking, accounting, and other
professional services. Moreover, the Accelerator provides entrepreneurs with access to over 100
proven entrepreneurs and business leaders. The result is the rapid development and revenue growth
of portfolio companies.
For more information, visit: http://internationalaccelerator.com/
Atlantic County | 83
Atlantic County | 84
Best Practices
Tech Shop
U.S.
The U.S. Federal government has begun a partnership with TechShop, a prominent player in the maker
space industry, to offer veterans free membership through GEs Get Skills to Work coalition. Currently
the program is training 1,200 veterans with plans to make an additional 1,500 spots available. Training
includes professional instruction, hands-on training, and access to workspace machines, and tools.
For more information, visit: http://www.techshop.ws/
Best Practices
WeWork
U.S.
Founded in 2010, the New York based coworking company was the fastest growing lessee of new office
space in New York in 2014. The company has expanded out of New York to 6 additional cities in the U.S.
and 3 cities abroad with 30 locations in total. WeWork plans to open an additional 60 locations by the
end of the year. The company attributes its rapid growth to its ability to foster a community amongst
members of its coworking space. WeWork spaces hold happy hour events for their members, provide
training through SkillShare presentations, and the company holds a yearly summer camp in New York
for its employees and 1500 members. Members are also provided with discounts for a number of
businesses.
In 2011, WeWork entered into the incubator business with their company WeWork Labs. Labs functions
much like its parent company but with a heavier focus on facilitating entrepreneurship, providing
startups with financial advice and office hours. Through sponsorships by major corporations, Labs is
able to provide entrepreneurs space for lower rates than other incubators. The company does not take
a share of equity from member startups and has helped launch Reddit and Fitocracy.
For more information, visit: wework.com
Atlantic County | 85
Best Practices
How to Attract Angel Investment
Triple Pundett, Bill Roth
The key to raising money is building investor trust. There is a formula for doing so. The entrepreneurs
that succeed in raising capital for their business know the formula for crafting a compelling story that
earns the trust and investment of angel investors. James Magowan is an angel investor. As an
investment banker with Security Research Associates, he helps companies successfully bridge the trust
gap with investors to gain the investment dollars needed to grow their business.
Magowan said it takes trust to get investors to contribute to an enterprise. He has five steps he
recommends to build that trust:
Business Sense
Big Problem, Big Solution
People
Prudence
Excellent Communication
For more information, visit:
http://www.triplepundit.com/2011/06/interview-angel-investors-five-keys-raising-capital/
Best Practices
Kaufmann Foundation Angel Fund Guidance
Established in the mid-1960s, the Kansas City-based Kauffman Foundation is among the largest private
foundations in the U.S. with an asset base of $2 billion. The company provides grant funding and
support for education and entrepreneurship. As part of its initiative, the foundation released and
updates a guidelines for developing angel funds appropriate to communities. The foundation has best
practice advice on building the right framework and establishing the fundamentals of the organization.
Atlantic County | 86
Goal 3: Improve
Economic Development
Product
Strategy 1
Improve Workforce
Strategy 2
Bring Infrastructure Up
to Standard
Strategy 3
Consolidate Municipal
Services
Strategy 4
Integrate Municipal
Master Plans
Strategy 5
Develop a Customer
Service Culture
Key Actions
Best Practices
Youth Apprenticeship Program
State of Wisconsin Workforce Development
The Youth Apprenticeship program grants high school juniors and seniors paid workplace experience paired with
two or four semesters of related coursework. Students enroll in the program for either one or two years. They
are trained by an industry member in industry skills as well. The program is funded by local grants, employers,
and other means.
For more information, visit: https://dwd.wisconsin.gov/youthapprenticeship/program_info.htm
Atlantic County | 88
Best Practices
The Leader in Me
Bowling Green Chamber of Commerce Bowling Green, Kentucky
The Leader in Me program prepares the future workforce by teaching children about leadership,
accountability and teamwork all integral skills for talent development. The initiative recognizes that
all children have strengths and the potential to lead.
In 2010, the Chamber began collaborating to implement The Leaker in Me in both city and county
school districts. The program integrates Dr. Stephen Coveys The 7 Habits of Highly Effective People
into the schools existing curriculum. This initiative differentiates the community from others as the
local workforce gains more skills that help local companies compete in the global markets.
For more information, visit: http://www.theleaderinme.org/
Best Practices
ACT Work Ready Communities
Community ad Economic Development Atlanta, Georgia
The Work Ready Communities initiative is helping empower states, regions and counties with the data,
process and tools to drive economic growth. Communities the program to measure and close skills gas
by building a common framework that links, aligns and matches workforce development efforts. The
portable, industry-recognized credential clearly identifies a workers essential, foundational workplace
skills in reading, math and information location.
Data is updated monthly to the ACT website for more than 3,141 counties across all 50 state. Updates
include the number of certificates earned and the number of employers recognizing or recommending
the certificate. ACT operates an Academy for invited community leaders to provide guidance to state,
regional and county teams on building a sustainable workforce development initiative. As certification
goals are met, economic development efforts are strengthened through documenting the skill level of
the area workforce.
Using this partnering approach, the Iowa-based nonprofit best known for its ACT college entrance
exam is furthering its mission of helping people achieve its mission of helping people achieve education
and workplace success.
Atlantic County | 89
President Barak
congratulates
students at a recent
Kalamazoo High
School graduation in
Michigan.
Best Practices
Pathway in Technology
Pathway in Technology (P-Tech), Early College High School is a four to six year public high school model
that allows students to earn both a high school degree and either an associate degree or 2 years of
college credit. The original program, in New York City, partnered the NYC Department of Education
with City University of New York, NYC College of Technology, and IBM with the aim of designing a
college and career ready curriculum in the technology sector. Students are paired with IBM corporate
mentors and top graduating prospects receive jobs at the company after graduating from the high
school.
Pathway in Technology has expanded their model to 37 campuses across New York, Chicago, and
Connecticut with a variety of corporate partnerships with focuses in IT, health, advanced
manufacturing, and energy. While corporate and university partners vary, the program abides by
several core principles. The admission processes does not screen applicants on past performance and
corporate partners must provide mentoring to students and offer paid internships. The program
expects to expand to 100 campuses next year.
Atlantic County | 90
Key Actions
A) Improve Roads, Buildings and
Aesthetics
B) Improve Internet Speeds and
Connectivity
C) Create a Greater Sense of
Community Through Live/Work and
Public Spaces
The Atlanta Beltline Project is transforming 22acres along rail lines into a vibrant live-work
environment.
Photo courtesy of Business Intelligence.
Atlantic County | 91
Best Practices
Quality Council
Greater Austin Quality Council
Fashioned after the Malcolm Baldrige National Quality Award, the Austin Chamber of Commerce created a local
version of the award to recognize local businesses that meet or exceed quality control standards. In Austin, the
awards were issued for three categories: business, health care, and education. The framework of the award
consists of three main parts: the criteria for performance excellence, core values and concepts, and scoring
guidelines. Through this framework, organizations are better able to assess their progress for improved quality
control, identify strengths, detail opportunities for improvement, and achieve real results. At the national level,
recipients of the award achieved average revenue growth of 93% and average job growth of 66%. While the award
is no longer issued in Austin, Atlantic County can create its own version of the Baldrige Excellence Performance
Program.
For more information see: http://www.baldrigepe.org/
Atlantic County | 92
Atlantic County | 93
Key Actions
A) Create Countywide Tourism
Dashboard
Atlantic County | 94
Key Actions
A) Develop 3-Day Tour Packages
B) Create Shallow Port Cruise
Tours
C) Target College Student
Populations Off Season
D) Grow Events, Festivals and
Conventions
Game Changer: Make Atlantic City the Game Capital of the World..
At one of the community meetings held during the stakeholder engagement
phase of this project, a local resident stood up and suggested that Atlantic City be
turned into the Gaming Capital of the U.S. Why not take a great suggestion
even further? With Atlantic Citys fame in the invention of the Monopoly board
game and its history in casino gambling, make it the Gaming Capital of the
World. Extend the concept to all forms of gaming board games, virtual games,
etc.
Atlantic County | 95
Atlantic County | 96
Best Practices
Anchorage Mini Maker Faire
Greater Anchorage Economic Development Corporation Anchorage, Alaska
To foster a culture of innovation and entrepreneurship, AEDC hosted a day-long event that attracted
more than 1,200 attendees and 41 maker booths staffed by 91 makers. Twelve maker sold their
creations at the event, and food trucks provided lunch. Makers encompass a broad category of
individuals who create new and innovative projects, including engineers, inventors, tinkerers, hobbyists
and artists. AEDC sought to create more interaction between local innovative thinkers that can form the
bedrock of an entrepreneurial community.
For more information, visit: AEDCweb.com.
East Coast ACBC Comic/Geek/Cosplay Convention, Atlantic City 2015
Atlantic County | 97
Game Changer: Explore the Possibility of Becoming the East Coast Site
for Mega Sports Events Similar to X Games. X Games an annual sports event,
controlled and arranged by American sports broadcaster ESPN that focuses on
extreme sports. The inaugural X Games were held in the summer of 1995 in
Newport, Rhode Island. The X Games gained media exposure due to their big name
sponsors, top-tier athletes, and consistent fan attendance. For the last two years,
the games have been held in Austin, where 140,000 attend four day events.
X Games Austin, TX
Atlantic County | 98
Key Actions
A) Promote Tourism Options Within the
Wetlands and Pinelands
B) Market Local Vineyards, Farms, and
Golf Courses to Visitors
The ACEDC should work to improve connectivity between cities within the Pinelands by setting up
a network of hike and bike trails through less environmentally sensitive areas. Winter Gardens,
Florida is a key example of how a network of trails connecting small communities has helped
develop a burgeoning downtown district.
Rather than cutting against the grain, Atlantic County must take ownership of the Pinelands
National Reserve. Atlantic County staff and the ACEDC should become the center of expertise on
the environment as well as some of the most vocal supporters for its preservation. Regulation
within the region does limit the regions ability to grow, yet the reserve is a unique asset that
prevents the county from becoming just another region of north eastern sprawl.
Atlantic County should look into setting up an ecological campus through a partnership with a
local university. Graduate students at the campus can gain hands on training in ecology while
providing residents and local businesses with research studies necessary to get approval for
projects within the Pinelands region. The ACEDC should facilitate a partnership between the
campus and local schools to educate students about conservation and environmentalism at an
early age.
A rebranding effort of the Pinelands Region should be considered. By taking on the initiative of
branding the region, Atlantic County can become known as the destination point for visitors
looking for a weekend getaway from urban centers. Merchandise with branding can be sold at
stores near hike and bike trails and camping sites, bringing in additional revenue to smaller towns.
Atlantic County | 99
The Memphis Area Association of Governments (MAAG) partnered with Heritage Tours for the West Tennessee
Heritage and Roots Day Trippin Tour to encourage visitors and local residents to go beyond Memphis and
experience the heritage and culture of surrounding rural communities. Tours highlight the history of the African
American experience by featuring historic stops on the Underground Railroad and the Alex Haley Museum. The
three tours that were offered in February 2014 had 69 participants and visited the newly renovated Ripley
Historic Downtown Square showcasing the Bank of Ripleys annual Black History Month Exhibit and Covington
Downtown Square, home of the Annual Chocolate Tour. Building on the tours success, MAAG is currently
working with Heritage Tours on three new themed tours highlighting the Civil War, Antebellum Architecture,
Blues, and Roots in West Tennessee.
For more information, visit:
www.westtndaytrippin.com
Best Practices
Texas Hill Country Tourism: Fredericksburg
Today, Fredericksburg ranks as one of the top rural cities for tourism in America, catering to both daytime visitors
from major urban centers in Central Texas as well as overnight visitors coming in from farther away. As part of its
tourism development strategy, Fredericksburg has developed a remarkable method for drawing in visitors for
every aspect of its heritage and natural assets by showcasing both its German and Texas rancher roots and
inspiring visitors to appreciate the peaches, lavender, wildflowers, wines, and natural landscapes for which the
region has become well-known. The influx of tourists has allowed for a wide variety of small businesses to
prosper: from cozy bed and breakfasts to small boutiques and wineries.
Aggressive marketing campaigns showcase all regional assets, while the website of the Bureau itself allows
visitors to plan every aspect of their trip, from accommodation to tours and shopping. The Visitors Center
provides visitors with travel counselors to answer their questions, and also offers free maps, informational DVDs
and parking.
For more information, visit:
http://www.visitfredericksburgtx.com/
Best Practices
City of Winter Garden, FL
Historic Downtown Arts and Culture District
The small city of Winter Garden began land banking property in its declining downtown area, to plan and create a
vibrant historic district for arts, entertainment and culture that powered new interest in the city and relocation
by entrepreneurs, innovation companies and young professionals. The city partners with The Winter Garden Arts
Association and the Winter Garden Heritage Foundation to grow and improve the area, offering incentives to
businesses that renovate old buildings and locate in the district and building parking facilities to handle large
crowds.
The city initially purchased and spurred renovation of a historic theater that now operates as an independent
public organization. Active city staff aggressively pursued and established numerous large festivals that take place
in the district each year, including a popular visual arts festival, Music Fest and Culture Fest, which includes a film
festival. The district has been so successful, it operates at 100% business occupancy and the city has begun to
develop and adjacent area of abandoned warehouses into a separate and permanent arts district.
For more information, visit:
www.cwgdn.com/
Redevelopment Sites
Atlantic County Strategic Real Estate Locations
Property
Location
Size
Owner
Project Use
Estimated Cost
Possible Funding
Bader Field
Atlantic City
142 Acres
Atlantic City
Phase 1: Sports
Complex, Phase II:
World Trade
Center
$100 Million +
55 Acres
Stockton University
Spec Building to
Include Incubator
$15 Million
Public/Private
Partnership
Stockton Aviation
FAA William J.
Research and Tech Hughes Technical
Park
Center Campus
Atlantic City
International
Airport
Egg Harbor
Township
Portion of 84 Acres
FAA/SJTA
Hamilton
Racetrack
Hamilton
Township
250 Acres
Parks Casino
Route 40
Combined Purpose
Projects
Buena Vista
Township
Enclosed Theme
Park
Covered by Owner
7 Acres 4 Sisters
4 Sisters - Plant Specialty Mfg. and
$1.6 Million for
192 Acres Richland
Buena Vista
Destination
Combined Projects
Village
Township Historic
Development
EDA Grants,
Tourism Grants,
Historic Society,
CRDA, Tax
Abatement
Bader Field
Considered a prime redevelopment site for the U.S. East Coast, Bader Field is a 142-acre
peninsula parcel of land in the western area of Atlantic City approximately one mile from the
terminus of U.S. Route 40 and U.S. Route 322. The airport facility closed in 1990, and a minor
league baseball stadium was constructed on the site. The stadium was rebuilt as a 5,500-seat
facility. The stadium has also been used as an ice rink and auto races, as well as for music
festivals in 2011 and 2012.
The site is owned by Atlantic City and is included in the state-run tourism district controlled by
the Casino Reinvestment Development Authority. Atlantic City turned down a 2008 purchase
offer of $800 million plus $100 million in property tax relief by Penn National Gaming. The site
could be leased for five to 10 years as a sports complex while waiting for with long-term plans
of converting the location into a World Trade Center or international market hall. Boardwalk
Hall could be considered as an alternative site for this purpose.
A WTC building would cost an estimated $100 million+. The cost of the products exhibited
within would be born by the companies that produce them. Costs for upgrading the property
for its interim purpose as an athletic center would be born by the lessee organization.
Note: Atlantic City recently sent out an RFP for short term lease of Bader Field and accepted a
proposal from Bader Field Sports, LLC. It is unclear whether the city has signed a contract.
Redevelopment Sites
Hamilton Racetrack
The 250-acre Hamilton Racetrack was opened in 1946 as part of a larger acreage track opened by
celebrities that included Bob Hope, Frank Sinatra and Harry James. It has since sold off most of its
acreage to a retail mall. It is accessible by the Atlantic City Expressway and State Highways 322
and 40, and is approximately 6 miles from the Atlantic City International Airport and 14 miles
from Atlantic City. It is noted as one of the highest and driest (most protected) sites in Atlantic
County, and has very flexible zoning for most purpose, except auto racing.
The racetrack is privately owned by Parks Casino (Greenwood ACRA) and located in Mays Landing
in Hamilton Township. It sold to current owner in 2001 for $11 million +/- $2 million bonus.
Current price is likely in the $5-6 million range. Parks Casino will sell entire property at once, or as
phased purchase. Limitations include restricted highway frontage and visibility, considerable
demolition requirements and asbestos in old structures. Owners say township will support its use
as a sports/entertainment center. Owners had 2010 plans for a 20-story hotel and conference
center along with an office and research park to tie into the FAA research park.
Standing infrastructure includes a water well, sewer capacity for 125,000, and an infield lake. In
uncertain condition are stadium seating for 10,000 and standing room for 25,000, a one mile
track, parking for 5,000 and 26 barns. Property comes with liquor license.
Note: Property qualifies for redevelopment incentives. Agent believes the site is prime for
development as a family entertainment area close to but not in Atlantic City. Owner reports
past interest by Disney, Six Flags, Magic Sports, Ripken Sports and developers of a water park
and hotel.
Route 40 Combined Purpose Projects
Buena Vista Township currently has a project in planning to assist in the expansion of a privately
owned produce warehouse and flash freeze facility to a size that can accommodate produce
throughout the county for preparation in shipping to locations within the U.S. and Canada. The
facility is located along U.S. Route 40.
Buena Vista would like to leverage the increased processing capacity to further its agricultural
reputation and history and support an economic development efforts to build destination appeal
downtown centered on an historic railroad connection. The combined project will allow the
township to build tourism despite strenuous limitations set by the Pinelands Commission,
allowing the community instead to leverage the beauty protected by the restrictions. Success of
the Route 40 project could translate to other western communities in the county.
The cost of upgrading the processing facility is estimated at $1.4 million, and would ultimately be
born by 4 Sisters Holding. BVT estimates the cost of turning the downtown area into a destination
attraction at $625,000. Options for funding the project could include EDA grants, tourism grants,
Buena Historic Society funds, and CRDA diverted funds. A 10-year tax abatement should also be
explored.
Redevelopment Sites
Atlantic City International Airport MRO
Atlantic City purchased 4,312 acres for an airport in 1910. In 1958, the city transferred ownership
of all but 84 acres located in Egg Harbor Township to the federal government for Federal Aviation
Administration use. In 1992, The South Jersey Transportation Authority acquired the Civil Terminal
Building from Atlantic City and also the citys reversionary interest in lands owned by the U.S. The
Port Authority of New York and New Jersey currently manages the airport itself under contract.
The Atlantic City International Airport is a vital, yet heavily underutilized asset within the county.
AngelouEconomics recommends Atlantic County to pursue a Maintenance and Repair Operation
(MRO) for the airport. The airports proximity to a number of major airports on the east coast,
lack of congestion, and lower wage and rent costs make it an ideal location for such an operation.
A number of modifications must be made to the airport to allow for such a venture. First, taxiways
will need to be constructed from the runway to where the maintenance facility will be located in
order to transport the airplane from the runway to the facility. This will cost $8-9 million.
Construction of the maintenance facility itself will cost $5 million. This cost could potentially be
covered by the MRO.
AngelouEconomics expects the operation to employ 350 people within the county. A partnership
with Stockton University would benefit both parties. The university can provide hands on courses
in aircraft maintenance on the premise. Students who have gone through the Stockton program
would be ready for employment afterwards at the facility.
Stockton University Aviation Research and Technology Park Spec Building
The research park will be located on the campus of the Federal Aviation Administrations William
J. Hughes Technical Center in Egg Harbor Township. The WJHTC houses every system in use today
in U.S. commercial aviation and is involved in system development and testing of NextGen
systems, airport and aircraft safety research, and homeland security research. There will be highspeed connectivity to the WJHTC laboratories that replicate the National Airspace System (NAS).
An FAA laboratory will be located in the first building of the Research Park and Stockton ARTP
already has umbrella agreements in place to allow members to jointly work on mutually beneficial
projects with the WJHTC and the Atlantic City International Airport (ACY).
Research park access is established on both Delilah Road and Amelia Earhart Boulevard, and
Atlantic County has provided substantial roadway improvements at the entrance to the
Research Park, ACY and the WJHTC. The Research Park also offers close proximity to full
interchange of the Atlantic City Expressway with a close connection to the Garden State Parkway.
Legal issues and communication have slowed the start of the research park. A 100,000 sf
public/private spec building is recommended that will include a 15,000 sf incubator. The project
will involve major international partners and aviation start-up tenants. Estimated cost for the
project is $15 million and should be funded as a public/private partnership.
Public Policy
New Jerseys fairly robust incentive package already has some of the necessary tools for Atlantic
County to be successful. State level incentives focus on job training, retention, manufacturing, and
life sciences, and therefore line up with Atlantic Countys needs. These resources are vital in
helping the county offset the high costs businesses face when locating in the north east.
Atlantic County should utilize the Grow New Jersey Assistance Program (Grow NJ),which provides
companies with tax credits equaling $500 to $5,000 per job, to offset high payroll costs for
businesses looking to locate within the county. Atlantic Citys designation as a Garden State
Growth Zone qualifies it for the highest levels of base credits that can be awarded for mega
projects. The Urban Enterprise Zones (UEZ) Tax Exemption can be used to reduce utility costs for
manufacturing companies by waiving the sales and use tax on electricity and natural gas utilities.
State incentive programs have not been without problems. The States use of tax refunds for
companies creating job growth in New Jersey has led to some budget woes. This has resulted in
programs being cut by the administration, leaving businesses promised refunds high and dry. The
state should be encouraged to consider shifting its incentive offerings from tax refunds to tax
credits.
The following page provides further policy suggestions for the Atlantic County to implement as
well as policies the County should lobby the state into implementing. Federal programs that can
be leveraged are also listed. Public policy considerations provided focus on providing companies
with financial resources to grow new jobs, resources to help the county retain businesses, and
policies that encourage commercialization.
Best Practices
CAPCO
The CAPCO program is a government economic development tool designed to foster the development of a
venture capital infrastructure to help provide the funding for innovative local companies that are without the
means of obtaining financing.
CAPCO programs allow governments to raise large pools of capital from insurance companies or other financial
entities by offering tax credits for investments they make into approved CAPCO funds. The tax credits are taken
over time and therefore they do not affect government tax revenues in the year that they are issued.
CAPCOs are typically venture capital groups with significant local knowledge and industry expertise and provide a
leveraged (often a 4:1 ratio) capital match of their own to invest in innovative companies.
Nine states currently have CAPCO programs. Notable success stories include Digium (AL), Medidata Solutions
(NY), and T&K Machine (TX). After receiving CAPCO funding, all of these companies were able to attract additional
funding and expand their presence.
For more information visit:
http://www.capcofacts.com/home.html
Conferences
Based on the recommended target industry, AE suggests that the Atlantic County
Economic Development Corporation consider attending the following or similar
conferences in order to gain a firmer understanding of industry trends as well as to
establish industry contacts and market the regions available assets related to the industry.
Description
Date
The international IEEE Aerospace Conference partners with AIAA and PHM
Society to promote interdisciplinary understanding of aerospace systems,
their underlying science and technology, and their applications to
government and commercial endeavors.
March 5-12,
2016
Avionics Maintenance
Conference
April 25-28,
2016
Description
Date
This event unites thousands of health care leaders, visionaries, and frontInstitute For Healthcare
line practitioners from around the world to exchange ideas regarding
Improvement Annual National Forum
quality health care and how to improve health.
TBD 2015
March 6-9,
2016
Bio-IT World
Conference and Expo 2016
April 5-7,
2016
International Conference On
Proteomics And Bioinformatics
Sept 1-3,
2015
Conferences
Tourism Conferences
Conference
PRSA Travel and Tourism
Conference
Description
Date
TBD 2016
This conference gathers young leaders in the travel industry for education
December 8th,
and networking. The event will focus on business plans and trends
2015
important to new members of the tourism industry.
Restaurant owners, consultants, and investors are invited to learn about
financing and growing restaurants. A good opportunity to learn about how November 9about challenges in the restaurant industry and the needs of restaurateurs
11, 2015
and investors.
Description
Date
International Manufacturing
Technology Show
This bi-annual even is one of the largest industrial trade shows in the
world and hosts over 1,900 exhibiting companies.
TBD 2016
August 10-12,
2015
Description
Date
TBD 2016
TBD 2016
Conferences
Economic Development Organizations Conferences
Conference
Industrial Asset
Management Council (IAMC)
American Chambers of
Commerce Abroad (AmChams)
SelectUSA
Description
Founded in 2002, the IAMC describes itself as the leading association of industrial
asset management and corporate real estate executives, their suppliers and service
providers, and economic developers. Membership in the IAMC provides access to
the organizations bi-annual meetings. These meetings provide high-quality
education and networking opportunities in a low-key, professional environment.
Implementation
The implementation matrix offers recommendations on how the ACEDC and its economic development
partners can apply this action plan. It is organized by the steps outlined in the strategy and includes
action items, timeframe and the parties to be involved in execution.
This matrix, paired with the annual scorecard event, will assist the ACEDC in tracking the progress of the
implementation of this plan.
A sample implementation matrix is provided below. An editable excel document separate from the body
of this report will also be provided. The ACEDC should act as the organization in charge of the
collaborative implementation of the strategic plan.
About AngelouEconomics
ANGELOUECONOMICS
AngelouEconomics partners with client
communities and regions across the United
States and abroad to candidly assess current
economic development realities and identify
opportunities.
Our goal is to leverage the unique
strengths of each region to
provide new, strategic direction
PROJECT TEAM
Angelos Angelou
Principal Executive Officer
Dane Anderson
Project Manager
William Mellor
Director of Project Operations
William Bean
Associate Project Manager
Morgan Adams
Research
AngelouEconomics clients are able to diversify their economies, expand job opportunities and
investment, foster entrepreneurial growth, better prepare their workforce, and attract new
economy companies.
To learn more, visit www.angeloueconomics.com