ATLANTIC CITY — The Stockton Gateway Project is the type of project Atlantic City can build its future around, said Philadelphia Federal Reserve President Patrick Harker during a tour of the facility Wednesday.
”Anchor institutions, if you look around the country, are incredibly important, because they provide that long-term, solid foundation for the economy,” Harker said after the tour of the project.
“If you look at the communities that have prospered during the good times and bad times, they usually have one or more great universities,” he said. “The fact that Stockton (University) is making the commitment to be here is really good news for Atlantic City.”
Next fall, Stockton plans to open the 675,000-square-foot, $220 million Gateway — the new headquarters for South Jersey Gas and a campus for the university that includes an academic building, housing for more than 500 students and a parking garage.
Harker on Wednesday toured several Atlantic County locations.
He stopped at the Federal Aviation Administration William J. Hughes Technical Center and Atlantic City International Airport in Egg Harbor Township with representatives of the Atlantic County Economic Alliance.
Harker regularly visits communities throughout the 3rd Federal Reserve District, which covers southern New Jersey, eastern Pennsylvania and Delaware, to engage with stakeholders and learn about economic conditions on the ground.
“These assets are an essential part of our strategic plan for economic diversification, growth and stability throughout our region,” stated ACEA Executive Director Lauren Moore. “Our goal is to establish an aviation industry supported by the airport and technical center as well as the Stockton Aviation Research and Technology Park that is currently under construction on a 58-acre campus adjacent to both.”