[INSPRATIONAL MUSIC STING] - Hi, everyone, Steve Adubato.

Welcome to a half hour of compelling, important programming.

We kick-off with our good friend, Tara Colton, who's been with us in the past.

Check out our website for previous interviews.

She's the Chief Economic Security Officer for the New Jersey Economic Development Authority.

To fully disclose, an underwriter of our programming.

Tara, good to see you again.

- Good to see you as well, Steve.

- Yeah, there's a lot of topics I want to cover.

First, let's talk food insecurity in Atlantic City.

A, why is it such a terrible problem in Atlantic City?

And B, what is the Economic Development Authority doing in that regard?

- Yeah, we're really excited to be working to comprehensively try and address food insecurity and food access in Atlantic City.

Atlantic City is so unique for so many reasons, including where it is geographically.

But as many of us know, they've also been without a full-service supermarket for nearly two decades.

And so a lot of the food retail options that many of us take for granted, residents there just don't have access to that.

And so Governor Murphy has charged us with continuing to move the needle on bringing a full-scale supermarket to Atlantic City.

But we also don't want to wait.

You know, residents deserve and need food sooner.

And so the Economic Development Authority has awarded more than $5 million in grants to local organizations that will be improving food access and developing new programs on the ground in Atlantic City while we also work to build a supermarket.

- Tara, why is it so hard to get and have a supermarket in Atlantic City?

Why is it so hard?

- Yeah, I think there's a long history of trying to match the right grocery operator and the right consumer demand within the community.

There have been a lot of efforts over the years to try and make, sort of make that development match happen.

And I think what we're looking at now, especially after COVID, is really embracing the shift to e-commerce and just recognizing that shopping patterns change.

And so what we're looking to do is think creatively about how to build on the assets that are there, how to think a little differently about who a potential operator could be, but also to really understand what the community there wants so that we can actually make it happen.

- Tara, I'm remiss.

Remind everyone what the role of the Economic Development Authority is.

- Sure.

So the Economic Development Authority, or the EDA, is this state's government agency charged with driving economic growth and really delivering on Governor Murphy's commitment to a stronger and fairer New Jersey.

I'm very proud that we have, I believe, the first chief economic security officer in the country, and myself, which really underscores that we're putting our money where our mouth is.

That we believe that economic security is economic development and that we need to strengthen all New Jerseyans so that we can all thrive.

- You know, along those lines.

One of the things that I always have found interesting, and check out previous interviews with Tim Sullivan, the CEO of the Economic Development Authority, is that economic development initiatives are defined in some interesting and unique ways by the EDA.

I'll be more specific.

You know, we've talked about this before, but the connection between childcare, quality, affordable, accessible childcare, and economic development, make the case, please.

- I think, as our CEO has said, if COVID didn't convince you about the importance of childcare at our economic stability and growth, very little will.

I think there is no question that the data show how access to high-quality, affordable, accessible childcare allows parents and caregivers, particularly mothers, to enter or reenter the workforce.

But we also know that there aren't enough spaces in high-quality programs and so we're really proud to be leading the charge.

We're dedicating over $115 million to improving childcare in New Jersey.

- Break that down.

I'm sorry for interrupting, Tara.

$115 million goes where?

- Yeah, so we are making, we believe it's the third largest investment of any state, only after California and Texas, in improving childcare facilities.

So we're giving grants of up to $200,000 to hundreds and hundreds of childcare centers up and down the state for them.

- To do what?

- To expand into new rooms that have long sat vacant, to replace unsafe playgrounds, to improve the windows and allow them to open and get natural light.

We expect that this will result in thousands of new spaces and slots for children in New Jersey, especially infants and toddlers.

- So, I'm curious about this.

Tara, is it fair to say that, I'm gonna give you a quote and then I want you to play on this, because I'm trying to understand.

- Yeah.

- It feels as if there's a redefining of what economic development really means.

You said quote, "You can't throw money at a problem.

It's really an investment in our people."

So economic development is an investment in people?

Explain that.

- Yeah, I mean, I think that historically, economic development has been focused on the return on investment in the short-term.

How many immediate jobs are being created?

How much tax revenue are we gonna obtain from this investment?

And those are all real and meaningful and profound.

- They matter.

They matter.

- They matter, absolutely.

But what we're talking about are really investments that could take decades or even generations to have that lasting impact.

And so thinking differently about what the economic impact is and knowing that we may not see it immediately, but that we're making the kinds of smart contributions to shore up the economy for what people really need, so that they can avail themselves of all of the exciting work that's underway in New Jersey.

- Let me push back a little bit.

Historically, people in public life, elected officials, politicians, they're big on the photo op, you know where I'm going, shoveling the ground, hard hats that they only wear that day, and or that minute, and never again.

Neither do I, so I just want to make it clear I'm not great with my hands that way.

That being said, that projects, shovel in the ground, photo ops have been the definition of economic development for decades.

Are you saying that beyond the EDA, that trying to get public officials to think about economic development differently is part of your mission?

- Yeah, absolutely.

I think those photo ops and the shovels in the ground are really important markers.

- They matter.

- They bring a symbolism.

What matters is then the ribbon cutting and being able to deliver on the commitment that was made.

And so I think that pushing the boundaries of what it means to see impact in our economy, and thinking differently, and just more broadly about how that's measured, whether it's improved health outcomes, you know, reduced absenteeism at work, because parents now have reliable childcare, the ability of companies to, you know, hire and grow the workforce that they want and need, because people have their basic needs met, I think that that's something that isn't as neatly tied up in a bow or a ribbon, but it shows impact.

And so we're trying to again, push those boundaries, so that we can have an economy that works for everyone.

- Sometimes there isn't a photo op when you're making a difference.

It's not so visual.

Tara Colton is the Chief Economic Security Officer for the New Jersey Economic Development Authority.

Tara, once again, we appreciate you joining us.

Thank you.

- My pleasure.

Thank you.

- You got it.

Stay with us.

We'll be right back.

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