Economic Future Of Lacey Under Review As Oyster Creek Decommissions

LACEY, NJ — A power plant-sized hole was left in Lacey Township's economy when Oyster Creek closed prematurely in 2018. Hundreds of jobs were lost and the local economy suffered as a result. How will the township move forward? That's what officials have spent the past 18 months discussing.

Utilizing a federal grant, township officials have been working with BRS, Inc. for over a year to develop a plan to ensure a strong economic future in Lacey without Oyster Creek. Their second public meeting was held at the end of May; the first was in April 2023. Read more: Post-Oyster Creek, Lacey Looks To Attract New Industries

"We would like to see that site redeveloped into some kind of usable economic plan for the Township of Lacey to provide jobs and industry to our community," township Business Administrator Veronica Laureigh said of the Oyster Creek site, which is currently undergoing commissioning.

The plan focuses on the Oyster Creek site for redevelopment, plus some other vacant properties in town that have been identified as useful and could potentially house new industries. BRS completed a SWOT analysis of Lacey, highlighting the township's strengths, weaknesses, opportunities and threats.

RELATED: Oyster Creek Power Plant Could Become 'Green Energy Park'

One strength is Lacey's access to natural resources and environmental protection. But a big weakness is lack of available land, due to how much of the township is preserved Pinelands.

Seven target industries had a supply and demand study to determine their health. These are, as identified by Lacey:

• Electric power transmission and distribution
• Pharmaceutical manufacturing
• Alternative and renewable power generation
• Light industrial manufacturing (for offshore wind industry)
• Waterfront recreation and marinas
• Refrigerated warehousing
• Defense-supporting industries

BRS looked at the growth and production of each of these industries. They also completed an economic impact and market analysis, examining things like how many jobs would be created and how much they would pay.

The industries like waterfront recreation and defense-supporting industries are two that would create a lot of jobs, though defense would come with higher salaries.

"With Oyster Creek's closure, the township saw significant decline in certain types of corporate taxes," explained Sonia Martin, BRS economist. "And one of the township's objectives is to replace some of those tax receipts through new business activity."

Additionally, five sites were targeted for possible reuse, including the Oyster Creek site itself. The other four are vacant lots in town. These sites were rated on their redevelopment opportunities available.

BRS officials acknowledged that there are a lot of great options in Lacey and that it's a matter of figuring out what the best mix of jobs are that the township wants to invest in.

A full recording of the presentation, along with the presentation itself, is available online here.