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Atlantic City is trying to build more of its economy outside the casino industry with the growing competition across the East Coast. A new report highlighted redevelopment efforts, housing incentives, and renewed concern about casino-sector jobs.
The report says Atlantic City faces increasing pressure from expanding gaming in New York City and elsewhere in the region. At the same time, an Atlantic County Economic Alliance study found casino hotel employment in Atlantic City is at a nine-year low in its baseline scenario.
Orange Loop Redevelopment Is Part of the Diversification Push
One focus of the report was the Orange Loop neighborhood. Redevelopment there is helping some local businesses grow. Tiffany Wilkinson runs a print shop that was featured in the segment. She said the area is being shaped around the kind of community people want to live in and use year-round.
That broader goal goes beyond tourism. Developers and local officials are looking for ways to add more permanent residents and reduce the city’s reliance on casino business alone.
Brian Zubac of Zoubek Properties said he wants the federal opportunity zone program to offer more incentives for new housing sales rather than focusing mainly on rental development.
He also spoke about the city’s long-term needs. Zubac said the aim is to bring in homeowners and residents who will be part of the local community. That would let Atlantic City sustain itself and diversify from casinos.
U.S. Sen. Cory Booker recently visited Atlantic City and said investors raised ideas he planned to think more about after the trip.
Casino Jobs Remain a Key Concern for Atlantic City Economy
For casino workers, the backdrop is less certain. According to the Atlantic County Economic Alliance report, more than 5,100 jobs could be at risk by 2035 because of growing competition and other factors.
The segment also noted that Atlantic City’s largest casino workers union has reached one-year contract extensions with all nine casinos. The short-term nature of those deals reflects the market uncertainty.
For Atlantic City, the immediate challenge is balancing a still-central casino industry with efforts to create a broader, more year-round economy. The report said redevelopment and a larger residential base are critical parts of that strategy.
Source: As reported by NBC10 Philadelphia.
