Business
New Jersey’s Casino authority helps fund new Atlantic City grocery store
State officials joined a Thursday groundbreaking ceremony for a new Atlantic City grocery store receiving more than $18.7 million in money from a state authority that reinvests casino revenues.
November 19, 2021 8:05am
Updated: November 19, 2021 5:07pm
NEW JERSEY - State officials joined a Thursday groundbreaking ceremony for a new Atlantic City grocery store receiving more than $18.7 million in money from a state authority that reinvests casino revenues.
Officials praised the store, calling Atlantic City a food desert. With the addition, Atlantic City “is on the cusp of having its first full-service supermarket in more than 15 years,” Lt. Governor Sheila Oliver, commissioner of the Department of Community Affairs, said in an announcement.
On Oct. 19, the Casino Reinvestment Development Authority (CRDA) Board of Directors approved the grant to build and “fit out” the 54,609-square-foot ShopRite supermarket. Construction is expected to begin next year and take 13 to 15 months.
“This full service grocery store is desperately needed here in Atlantic City to finally address the food insecurity too many residents have had to endure for far too long,” CRDA Executive Director Matt Doherty said in an announcement.
State lawmakers created CRDA in 1984, and legislation allowed casinos to either pay 2.5% of their gaming revenue to the state or “reinvest” 1.25% of their gaming revenues through the CRDA. Casinos opted to send their money to CRDA for community and economic development projects in Atlantic City and statewide.
“This project represents a major leap forward in the revitalization of the great City we call home,” Atlantic City Mayor Marty Small Sr. said in an announcement. “More importantly, the supermarket will provide additional opportunities for employment while also improving access to the healthy and affordable food options that our community deserves.”
Village Supermarket Inc., a publicly traded company with annual sales topping $1.6 billion, is developing and operating the store. The company operates 30 ShopRite stores in New Jersey, New York, Pennsylvania and Maryland.
According to The Press of Atlantic City, Village will pay $1 annually to run the supermarket, which sits on CRDA-owned land; the authority will also own the building. In total, the authority has invested roughly $2 billion on more than 400 projects.
