From the desk of our Chief Operating Officer, Ken Calemmo: 2018 is looking BRIGHT!!!

I want to wish everyone a HAPPY HEALTHY and PROSPEROUS NEW YEAR!!

I have a great feeling about Atlantic City in 2018.  There is a great deal of economic activity taking place in the city that will have an impact throughout the city and state.  Remember every wave starts as a ripple!!

New administration in Trenton and in Atlantic City.  In 2018 we welcome in New Jersey’s new Governor Phil Murphy and Mayor to Atlantic City Frank Gilliam.  Both have great insight and interest in growing the pie in the city, creating economic diversity and breathing new life into the town.  Discussion between the two have been occurring and there is a sense of parallel purpose to work together and make AC a great playground to live, work and enjoy.

Stockton and South Jersey Gas will open their respective facilities in the city in 2018.  This undoubtedly will spurn additional investment at the south end of town.   Real estate investment in and around their neighborhood has been very active.  By the end of the year some 2000 people working in the area and attending school will need to eat, shop and buy services.

My prediction is that Bader Field will see new life in 2018.  Something will happen on that site this year.

Hard Rock is set to open in the summer of 2018 and will bring thousands of jobs to the town.  Fingers crossed that the former REVEL will see its doors open in 2018.  Similarly, with the uptick in economic activity, Showboat, Trump Plaza and Atlantic Club are due to see changes and activity in 2018.

S2872 – amendment to the Grow New Jersey Legislation is on the verge of passage and will hopefully become law within days.  This legislation will enhance economic incentives for investment and job creation in Atlantic City and for the one mile radius around the Atlantic City Airport.  If you have or know of a business looking to relocate that has 50 or more employees, this could be a great opportunity for them.

Lastly, let not us forget Sports Betting.  The US Supreme Court should be rendering a decision in 2018 that could open up sports betting in New Jersey.  This has been a long road for New Jersey and Atlantic City.  Should SCOTUS rule in favor of New Jersey, I believe every casino in the city is positioned to be up and running in a mater of weeks.  This will only create more excitement for the city.

All good stuff and more to come.

Keep moving forward.

Ken

Date Published: January 23, 2018


Written by: Kenneth J. Calemmo