County officials from Camden to Cape May are cautiously optimistic that the local economy is on the rebound, but warned that days of rapid expansion may be over.
“We may have to win this 20 jobs at a time” said Cape May County Freeholder Will Morey at a breakfast meeting Friday attended by about 150 members of the Chamber of Commerce of Southern New Jersey.
Tourism remains strong at the shore, but the population continues to decline because there are few year-round jobs.
“We’re seeing families second and third generation not being able to stay because there are no jobs,” said Morey, president and CEO of Morey’s Piers, which owns multiple entertainment venues on the boardwalk in Wildwood.
Elected for the first time to the freeholder board last year, Morey jokes about combining the two roles.
“We’re used to talking about real roller coasters in our business, but economic development in Cape May County is like a roller coaster.
“We are blessed with a beautiful coastline and we’re strong in tourism and fishing, but we must diversify.”
Ditto for Atlantic City, said John C. Lamey, executive director of the Atlantic County Improvement Authority, who has seen casino revenues decline from $5.2 billion in 2006 to $3.3 billion in 2011.
Still, he is optimistic that the city will get recharged with the opening of the Revel casino on Monday, the Hard Rock Casino Hotel in the near future and a new infusion of state funds.
One of the most troubling aspects of the business climate in Atlantic City is the explosion in part-time, as opposed to full-time, jobs.
“Fewer workers can afford to buy homes or hold onto existing homes.
“Last year there were 8,865 tax appeals. That’s up from 595 in 2007,” said Lamey.
In Gloucester County, food processing and wine making are becoming major employers, said Lisa Morina, director of business development for the county.
In addition, an unnamed auto parts manufacturer and distributor will be opening its first East Coast operation in the county.
On the downside is the former Sony plant, a large, outdated manufacturing site on 76 acres in Pitman that remains vacant.
Sandi Kelly from Camden County and Mark Remsa of Burlington County both stressed the volume of programs and incentives to business owners to relocate to the South Jersey area or expand here and the impact of local support on area businesses.
“If each household in Camden County spent $10 more a month at local businesses, that would put another $39 million a year into our economy,” said Kelly, director of economic and business development.
Neither a county, nor a municipality, the Joint Base McGuire-Dix-Lakehurst is an economic treasure that bears watching, said Mike Warner, a retired U.S. Army Colonel who is active in veteran affairs.
Spanning 20 miles across Burlington and Ocean counties, the joint base is the second-largest employer in New Jersey after the state government. About 42,000 people live or work on the base.
Given pressure on the Department of Defense to downsize, the joint base could be reduced or closed if local leaders are uninformed or apathetic.
“Consider this a warning,” he said.
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Thursday, May 23, 2013
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