M E M O R A N D U M

TO: Members of the Senate Community and Urban Affairs Committee

FROM: Hilary Chebra, Manager, Government Affairs, CCSNJ

RE:                           S-616 (Schepisi)

The Chamber of Commerce Southern New Jersey (CCSNJ) would like to share our support S-616 (Schepisi) which authorizes establishment of regional economic development partnerships.

As written, this bill would authorize local governmental entities to enter into regional economic development partnerships for the purpose of engaging in joint regional economic planning and formulating an economic development or redevelopment strategy.

Each region of the state is unique and has different economic needs. Working with businesses, business organizations, educational institutions, and other entities located within the region will allow for targeting each region of the state’s individual economic development needs and ensure resources are being well utilized. Since the CCSNJ’s founding in 1873 as the Camden Board of Trade, the organization has advocated for the advocated for the economic prosperity of the region and building on this work will benefit not only the economic health of the region, but the state as a whole.

South Jersey is expanding its current leading industries as well as diversifying the regional economy. New Jersey is currently a leader in the sports betting industry, with New Jersey sports bettors wagered more than $1 billion at three racetracks and nine Atlantic City casinos. Additionally, Esports recently received approval to begin betting operations in N.J. Offshore wind will provide a huge economic benefit for South Jersey. Governor Murphy raised New Jersey's offshore wind goal from 3,500 megawatts by 2030 to 7,500 megawatts by 2035. The New Jersey Wind Port is expected to bring up to 1,000 jobs and support up to $500 million of new economic activity within the region each year. It is important that the businesses and organizations in the region assist in the economic development plans to ensure that these and other emerging industries are successful and beneficial to the surrounding area.

              Thank you for allowing the CCSNJ to share our support of S-616 (Schepisi).