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Atlantic County Economic Forum

Atlantic County Economic Forum. Beyond the Boardwalk: Regional Opportunities for Business and Growth in a Changing Economy October 19, 2011 Howard J. Kyle Chief of Staff Atlantic County Government. Purpose of Today’s Forum.

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Atlantic County Economic Forum

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  1. Atlantic County Economic Forum Beyond the Boardwalk: Regional Opportunities for Business and Growth in a Changing Economy October 19, 2011 Howard J. Kyle Chief of Staff Atlantic County Government

  2. Purpose of Today’s Forum • To establish a broad based, sustainable economic development initiative • Build upon assets and resources unique to Atlantic County • Capitalize on new, emerging opportunities • Create good jobs

  3. Why “Beyond the Boardwalk?” • Atlantic City’s tourism, hospitality and gaming industry are vital to Atlantic County • Atlantic City is getting significant state resources and attention • Redevelopment and marketing plans are underway • Emerging opportunities are occurring on the Mainland and need attention

  4. Our Challenge • To come together as a community with the vision, the will and the determination needed to build a new economic future by developing strong aviation research and health care and health research economic clusters

  5. What will it take? • New thinking • New vision • New energy • New way of doing things • Urgency • Time

  6. How do we do this? • Get Real • Get Organized • Get a Plan • Get Going

  7. Get Real • The era of easy economic growth is over • We are not going back to the future anytime soon • Even a successfully revitalized Atlantic City may not be enough in term of good job creation • Casino work force seeing substantial cuts in salaries and benefits. More Part time workers • Gaming industry is reaching market saturation

  8. Gross Gaming Rev - Employment 2006 2010 YTD 2011 GGR (Billions) $5.22 $3.565 $2.5 Employment July 97 2004 YTD 2011 51,560 46,159 33,493

  9. Get Organized • More aggressive • More cooperative • More coordinated • More accountable • More results oriented • Private sector responsibility for Economic Development

  10. Get a plan “A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.” Wayne Gretzky What Wayne meant: Be positioned to take advantage of a range of possibilities that may occur. • Think Long Term • Base decision making on facts • Develop strategy and tactics • Get on the same page

  11. Get going • Take control - Build the future WE want • Strong, sustainable future based on three pillars • Tourism, Conventions and Gaming • Aviation Research • Health care and Health Research

  12. The path ahead will not be easy • Today is a starting point “We choose to do this not because its easy, but because it’s hard, because that goal will serve to measure and organize the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one which we intend to win. “ President John F. Kennedy

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