ANNUAL MEETING AUGUST 9, 2014 RICHARD C. PERNICIARO, PH.D. DIRECTOR
ANNUAL MEETING AUGUST 9, 2014 TOPICS FOR CONVERSATION • The region: Where are we going? • The County: Changes and Opportunities • Avalon: Homes, Businesses and Trends
ANNUAL MEETING AUGUST 9, 2014 The Region: Where are We Going? • Casino Roulette: 2? 3? More? • Loss of jobs and income/spending • Still the beach…..strong demand • Lack of a new “basic” industry: OPM • What about the Millennials?
ANNUAL MEETING AUGUST 9, 2014 The Region: Where are We Going?
ANNUAL MEETING AUGUST 9, 2014 The County: Changes and Opportunities
ANNUAL MEETING AUGUST 9, 2014 The County: Changes and Opportunities
ANNUAL MEETING AUGUST 9, 2014 The County: Changes and Opportunities • Older, lack of growth, fairly wealthy, seasonal • Growth industries: healthcare, hospitality • New industries: breweries, vineyards (+) • Possible industries: wind power, UAS (drones), retirement
ANNUAL MEETING AUGUST 9, 2014 Avalon: Homes, Businesses and Trends Some Facts • Year-Round Housing: 20 % Avalon; 44% County • Rented Units: 8%; 26% • Education, BA+: 35%; 18% • Median Age: 61; 47 • Diversity: Very, very little; very little
ANNUAL MEETING AUGUST 9, 2014 Avalon: Homes, Businesses and Trends • BIGGERT-WATERS REFORM ACT • The Great Recession Average Sale: 2006 - $1.7m 2011 - $1.2m 2013 - $1.1m
ANNUAL MEETING AUGUST 9, 2014 Avalon: Homes, Businesses and Trends The Borough, Some Suggestions: 1. Housing – Easy to walk, scale & distance 2. Demand – More toward retirees than second homes in the future; amenities (library, healthcare, social clubs) 3. Business – attract from mainland (everyone has same discount night); niche markets (special events venues)
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