In late 2007, amidst declining revenues in the hospitality and tourism industry and subsequent workforce reductions, The Atlantic Cape May Workforce Investment Board (WIB) began meeting with its private and public sector partners to discuss new opportunities for workforce and economic development in the bi-county region. More specifically how to provide continuous support of and advance existing industry such as gaming, healthcare, hospitality and tourism and retail while attracting new industry and subsequent sub-industries to the area.  The status of and precondition of this region to depend solely on one industry for job creation became the springboard for planning an Economic Development Summit.

For almost three decades, the hospitality and tourism industry (gaming) has been an economic engine for the region and for almost fifty years, the Federal Aviation Administration has operated out of Atlantic County. Initially, the two industries were attracted to the region by the infrastructures in place such as gaming legislation and adequate space/land and over the years have given back to the community through job creation, increase in homes sales and expanded educational opportunities, among others. How did those industries get started in region? Are there ways to build on that success? What business models could be replicated to expand industry and appeal to new industry? What existing infrastructure barriers exist that could prevent such expansion and development? The planning committee felt that one way to look at the future was to look at the successes of the past; thus a summit was held April 25, 2008 at the Atlantic Cape Community College.

The planning committee invited economists, industry leaders and architects of the past era to dialogue with summit participants in panel discussions on how to shape the South Jersey regional economy over the next five years (See attached list of panelists). By far, the over-arching theme for the summit was “diversification and sustainability of the local economy.”  To spur economic growth, it was suggested that the area must identify and leverage its assets, whether existing, emerging or under-utilized through the development of niche industries/sub-industries. This in the end will create an appealing environment for new business development. Some other themes that resonated with summit participants included:

1. OPM (Other People’s Money): Attract and build new industry to supply goods and services to wealthier industry in and outside the region; thus increasing the earning potential of local employees/residents.
2. Workforce Development in Higher Earning Occupations: Increase job training opportunities in highly skilled occupational titles that yield higher paying jobs. It was suggested that although the hospitality and tourism industry has created the most jobs in the past two decades; those jobs have not been in highly skilled occupations nor provided significant earnings increases like the earnings increases in the healthcare and technology fields.  The region needs to look at the nemesis of jobs; casino investment creates lots of jobs, while other economic sectors create better paying jobs. 
3. Sub-Industry Development: The upcoming changes in the aviation field will provide for expansion and creation of sub-industries to support aviation and technology. It was inferred that many of the employment opportunities in the technology related sub-industries will be in skilled occupations with wage earning potential, but not necessarily requiring advanced educational degrees.
4. Altruism and Stewardship: Community leaders and industry must be advocates of change, but more importantly take ownership of that change to reshape the economic outlook of the region.

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Recommendations

1.  Replicate the WIB Healthcare Business Partnership Model across other industry. Industry should begin to leverage resources, share information and systematically recruit qualified employees. Eliminate the competition for the betterment of the industry. In doing so, the industry will train, hire and retain qualified staff; reducing training costs and subsequently will have the ability to support higher paying jobs.

2. From a regional perspective, begin working on a cross county collaborative (Atlantic, Cape May, Cumberland and Salem) to attract industry through the building of shared infrastructure and the training of workers.

3.  Half day industry specific workshops (mini-events) or WIB Committee meetings where possible to discuss job creation, job training and education.

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