On November 7, 2025, COO Kenneth J. Calemmo, Jr. delivered the keynote address at the Northeast Business & Economic Association Annual Conference sharing the story of Atlantic City’s past, present, and future.
Ken’s passion for Atlantic City and his deep connection to this community shine through in everything he does. Both he and Cooper Levenson are proud to be part of the city’s ongoing story — its resilience, reinvention, and future promise.
Excerpt from Kenneth J. Calemmo, Jr.’s keynote address to the Northeast Business and Economics Association.
The vision of 10,000 new residents will be transformational.
Atlantic City has always been a city of bold ideas, from its famous Boardwalk to its iconic casinos. Today, it stands at another crossroads. The population has plateaued at around 38,000, many homes were built before 1962, and family incomes lag behind the state average. New casinos in New York threaten to siphon visitors, yet the city’s economic heart continues to beat strongly. Casino employment has stabilized at roughly 22,000 jobs, revenues are on track to reach $2.8 billion, and nearly 18 million visitors will pass through this city’s streets this year.
But Atlantic City is more than its casinos. Its beaches, entertainment, restaurants, and vibrant culture make it a place with untapped potential — a city waiting for its next chapter. The key challenge is clear: diversification. And the work has already begun. The William J. Hughes FAA Technical Center employs thousands in high-paying aerospace jobs, while the National Aerospace Research and Technology Park is expanding, promising ripple effects across South Jersey. Healthcare is also growing, with AtlantiCare investing heavily in new facilities, including a medical school, and Stockton University’s nearly $300 million campus has transformed the University District into a hub of innovation and learning.
Now, a bold vision is taking shape: adding 10,000 new residents — roughly a 25% population increase. This isn’t just a dream. Local business leaders are actively promoting the city to developers and investors nationwide. The idea is simple but transformative: more residents mean stronger neighborhoods, vibrant streets, new businesses, and a workforce that can sustain industries beyond gaming. Vacant lots and abandoned homes could be revived, schools and infrastructure modernized, and community pride restored.
Momentum is building. Mega-projects like Evolution Gaming’s 140,000-square-foot live dealer facility, the Vivio Investment transforming the Claridge and former Sands site, and redevelopment at Bader Field signal a city ready for reinvention. Housing development is following suit. Atlantic City has 700 vacant acres, including waterfront parcels, and land prices remain accessible. Builders like Kushner and Hovnanian, along with mid-size firms, are developing hundreds of new homes — a critical step in attracting families and professionals who will call the city home year-round.
Atlantic City has always been about vision and courage. The ocean is still here. The energy is still here. And the spirit is still here. With careful planning, investment in infrastructure, and bold ideas to diversify its economy and grow its population, Atlantic City is not just surviving — it’s poised to thrive. The city’s next chapter is being written now, one project, one family, and one dream at a time.