Everyone knows that Atlantic City, N.J., is in dire straits, and this year has been particularly tough for the city. Four casinos closed in 2014 and a fifth may soon follow. These closures have put more than 8,000 casino employees out of work and the effects of these closures can be felt throughout South Jersey.
Although there is no one-size-fits-all solution, one thing is clear: Atlantic City and much of South Jersey have for too long relied on an economy primarily based on gaming, hospitality and tourism. To reverse the region’s downward trend, we must diversify the region’s economy and encourage private-sector job growth. To that end, New Jersey’s leaders have taken a giant step toward increasing economic development in Atlantic City and South Jersey by reclassifying Atlantic City as a “Garden State Growth Zone” and by easing the criteria for projects to be considered “Mega Projects” in the eight South Jersey counties.
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