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Close Of Business: Beyond 2012

by Danielle Burrows
We asked local business leaders, economists and politicians to share their thoughts on the business forecast for South Jersey beyond the next year. This is what they had to say about where they think the keys to South Jersey’s business recovery and success lie.

“The keys to South Jersey’s business success over the next decade will hinge on a few items: the growth of Joint Base McGuire-Dix-Lakehurst and the recruitment of businesses to our community that can support the missions and the men and women who support those missions; revitalized City of Camden. I truly believe that Camden can return as an economic and business hub; keeping the talent pool, those new graduates from our region’s institutions of higher education, here in South Jersey by attracting businesses to provide good-paying sustainable jobs.”
Kristi M. Howell-Ikeda
Burlington County Chamber of Commerce

“Camden County will continue to be an economic hub due to the density and diversity of businesses. Health care and health-related services will dominate the next growth cycle, with retail and recreation, hospitality and entertainment a close second. … Burlington County will be the beneficiary of a ‘built-out’ North Jersey and should see increased warehousing and office space demand as businesses move south and can still take advantage of convenient northbound rail transportation. ... Gloucester County should benefit from industrial expansion and faster residential growth than its western and northern neighbors, fueling a faster real estate market recovery. The retail and restaurant industries will add jobs to support the residential growth.”
Art Campbell
Camden County Regional Chamber of Commerce

“I have always been the optimist and believe the glass is always half full, so I see good things in the next decade. What I believe to be the key driver will be job creation. With projects such as Rowan Boulevard, Port of Paulsboro, LS Power; each of these projects will bring hundreds of new jobs to our area, and, with residents back to work, our economy will once again flourish."
Les Vail
Gloucester County Chamber of Commerce

“Although the economy is showing modest signs of improvement, business may be a little shy on embracing an expensive marketing campaign. As businesses continue to recover, many are taking low-risk approaches to sustaining their business. Activities such as superior customer service, social media marketing and community involvement can provide the exposure many companies seek in a recovering economy.”
Stephen Kozachyn
Director of Business Outreach
Rohrer College of Business, Rowan University

“The key to success is to offer hope close to home in a way that maximizes the success of urban and suburban communities. The new Cooper Cancer Institute and the Cooper Medical School of Rowan University, the first new medical school in New Jersey in over 30 years, will offer a new dimension of health care in Camden, and in suburban locations. New state-of-the-art facilities, new technologies and cutting-edge research are all contributing factors toward the creation of jobs, meeting customer demands, and renewing Camden’s urban economy. Cooper University Hospital is playing an instrumental role in our region’s prosperity.”
Susan Bass Levin
Cooper University Health System’s Cooper Foundation

“I believe the key to South Jersey’s business success over the next decade will be a heightened marketing effort to attract business based on our unique location. We are 20 minutes from Philadelphia, an hour from the Jersey Shore, 90 minutes from New York City and two hours from Washington, DC. Location! Location! Location!”
Michael Mignogna
Voorhees Township

“First, we need tax policies that encourage growth and make it easier for people who work here to live here. South Jersey continues to lose its best and brightest—such as Rutgers and Rowan graduates—because tax rates make the cost of living so burdensome. Also, we need political reform and greater transparency in government. South Jersey and New Jersey as a whole need to shed the stigma of the ‘Soprano State’ and send a message that we’re working toward the needs of the many vs. the few.”
Linda Rosanio
The Star Group

“Global business trends indicate an orientation toward sustainable practices that restore environmental quality, promote stable and healthy communities, and increase long-term profitability. Businesses that foster ecological and social intelligence in all business decisions will be in a better position to deal with the uncertainties of the future. I anticipate that many South Jersey businesses will adopt these ‘triple bottom line’ strategies to stay cutting edge over the next decade.”
Lori Braunstein
Executive Director
Sustainable Cherry Hill

“South Jersey has it all. It’s centrally located on the New York/Washington, D.C., corridor with easy access to the main highways, airports and public transportation as well as Philadelphia. The key to success will be to continue growing as a hub of innovation and be the easy, friendly place to do business.”
Suzanne Zammit
Rutgers Camden Business Incubator

“I firmly believe that the key to success in any market, including South Jersey, will be to focus on supporting local businesses. There has been a large drop off, in recent years, of just such support resulting in the failure of many smaller ‘mom and pop’ type of businesses, putting an even greater strain on an already weakened state (i.e. less purchases being made for business, increased unemployment, etc.). If we are to stimulate our local economies, and likewise bolster the national economy, we must start at the beginning and focus on things at a local level. That is why the main goal of the SJBA (South Jersey Business Association) has always been to encourage networking among small businesses and get people involved with one another to have a web of businesses you can rely on for quality services and can then refer to friends, family and other business associates/acquaintances.”
Jason Painter
South Jersey Business Association

“The South Jersey economy is dependent on three key indicators: job growth, property taxes and minimizing out-of-market retail spending. The political and business leaders need to focus their collective energy on retaining, attracting and growing businesses, and shifting the tax burden from homeowners in order to increase home values and motivate residential development. Finally, the commercial property owners need to continue to bring ‘first-to-market retailers’ to South Jersey to better serve the consumer and minimize out-of-market retail spending. The successful execution of this strategy will result in a vibrant economic environment in South Jersey.”
Joseph F. Coradino
PREIT Services, LLC (Cherry Hill Mall, Moorestown Mall and Voorhees Town Center)

Published (and copyrighted) in South Jersey Biz, Volume 2, Issue 1 (January, 2012).
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