Newark Community Economic Development Corporation is a corporation based in the City of Newark that aims at transforming the City’s economy. To achieve this goal, the corporation provides investors with several services. These services are:
Real Estate Investment Services
Newark CEDC provides investors who want to invest in Newark real estate with services such as site selection, permitting and approvals. This service simplifies the investment process and enables investors to tap into the development opportunities found in the City. For real estate investors having problems with capital, the corporation provides them with gap financing services.
Business Attraction and Retention
The corporation markets Newark to attract more investors. This process involves provision of potential investing companies with accurate information on the city and reasons why Newark is an ideal location to open their branches. Apart from marketing, they also help companies opening branches in Newark with location decisions.
Small Business Development
There are thousands of small businesses in Newark. Newark CEDC reaches these businesses and helps them to grow. As much as the corporation appreciates the importance of outside investors to the city, it also believes developing the already existing small business will go a long way into transforming the city’s economy. It provides these small businesses with business loans and advisory services.
On his Twitter, Kevin Seawright, the Executive Vice President and the CFO at Newark CEDC, continues to encourage more and more small businesses to enroll for support from the corporation. Kevin was appointed Newark CEDC’s chief financial officer in 2014. He has a master’s degree in accounting from Almeda University. Kevin has been in the management of different companies and his immense contribution has seen their success. His wealth of experience will be quite central towards steering the corporation towards success.
Newark City has several wards. To ensure that the city’s economy is transformed equally, Newark CEDC has economic development directors assigned to each ward. The function of these directors is to coordinate community development and economic initiatives started by the corporation in every ward. They also act as the project managers of the said initiatives. They help in ensuring that the initiatives benefit both the residents and the investors.
Newark CEDC is already transforming Newark’s economy. The corporation has brought in a number of investors and companies into the city and this growth has translated into employment and better pay for the residents. A number of small businesses are also expanding their operations with the help of business loans from the corporation.