Business View Civil and Municipal | February 2021

77 CIVIL AND MUNICIPAL FEBRUARY 2021 CAPE MAY COUNTY , NEW JERSEY of our jobs based on the tourism economy are seasonal in nature and they are lower in wage, so we are looking to use our workforce development capabilities to branch out into the other important industry sectors in our community.” Traditionally, Cape May County has relied on tourism. The county’s population sits around 95,000, but in the summer that number goes up to 600,000 with people returning to their vacation and secondary homes. There’s also around 10.2 million visitors that make their way to Cape May County via short term rentals or day trips. This allowed the county to generate nearly $7 billion in direct tourism spending in 2019 alone. But now they are looking to expand to other industries, including healthcare and technology, According to Cape May County Tourism Director, Diane Wieland, “The county has been diligently working to expand the diversity of the economy to bring in new businesses that would help increase the number of jobs, especially the number of year-round jobs.” The innovative Cape May County Revolving Fishing Loan program has helped over 400 commercial and recreational fishermen purchase, upgrade and re-imagine the second largest industry in Cape May County. There is no other program of its kind in New Jersey or surrounding coastal states. Cape May County’s commercial fishing industry ranks top in the State and the port of Cape May/Wildwood ranks in fifth in the nation in dollars generated and 9th in landings out of 128 ports nationally. The program is managed by the County Government with board members from Rutgers University Fisheries, banking officials, and fishing industry members including suppliers and vessel owners. Wieland reports, “Currently, we have over $1.5 million in loans with a revolving payback of $38,000 per month that is available for more loans. As bank requirements become more stringent, this program allows commercial and