The Newark Community Economic Development Corporation Is Making Progress
The city of Newark has faced its share of challenges over the years. Like many older American cities, Newark has seen its population decline and some of its infrastructure fall into disrepair. The main thing that can help combat this type of decline is economic development. The Newark Community Economic Development Corporation has been tasked with the job of bringing more industry, jobs, and opportunities to Newark, New Jersey.
Newark is the largest city in New Jersey. The Newark Community Economic Development Corporation has to do everything thing in its power to bring in new businesses and to retain the ones that already operate in the city. To do that they have to work with current business and civic leaders to foster cooperation. Business people always have a lot of ideas about how to improve business in their area. Once their feedback is taken into account, it’s up to the civic leaders to make it happen. The NCEDC can offer quite a bit of tangible help for those who are looking to open or expand their business within city limits. They can help with site selection and much more. They have all the important data than any business would need to know, including employment and demographic information.
As StreetInsider reports, Kevin Seawright was named CFO this May. He brings a lot of experience to the job. He served in various financially-related jobs in Baltimore, so he knows what it takes to manage funds. For over 13 years, Seawright worked with a number of communities on the East Coast, where he used capital management skills to help them prosper. He’s planning on putting his skill to work in Newark. Newark has been showing a number of signs that the economic development is paying off. Seawright and the Newark Community Economic Development Corporation are taking a back to the basics approach to help Newark businesses get ahead.
In a city like Newark, development projects need to be tied to community revitalization that includes neighborhoods. City residents also pay taxes, and expect to benefit from any deals being brought to their area. That’s why an emphasis on job creation and an increased tax basis has to be a part of any project they help launch. City residents need employment so they can continue to pay their taxes, too! Newark has been showing signs of revitalization in the downtown area as some of the major businesses have invested.