COOS ECONOMIC DEVELOPMENT CORPORATION AND BORDERS DEVELOPMENT CORPORATION OF COLEBROOK ANNOUNCE THEIR MERGER
Lancaster, NH –Coos Economic Development Corporation (CEDC) and Borders Development Corporation (BDC) are pleased to announce their recent merger. This merger will combine and strengthen economic development activity in both the Borders Development Corporation service area and Coos County. CEDC will be the named entity carrying forward the mission for Coos County in alignment with its existing mission statement, while BDC assets will remain restricted for continued economic investment in the current areas that BDC serves in both New Hampshire and Vermont.
“This merger is good for the economic development of our County,” said Lise Howson, Executive Director for CEDC, “it means that resources are pooling so that they can have greater impact, and by restricting BDC assets to where they previously were applied it emphasizes the lesser populated area in Coos.”
“The strength and impetus for the merger is to take advantage of the loan programs, grant programs, infrastructure and a qualified, full-time executive to assist in leveraging our resources for the Borders Development service area” stated Scott Cooper, President of Borders Development Corporation. Cooper also shared that “BDC will continue to have both board representation with CEDC as well as having local leaders serve on an economic advisory board for the area”.
Glenn Coppelman, President of the Board of Directors for CEDC, said that the organization is “thrilled to be a part of further economic development for Coos County and that the merger will increase the impact of CEDC in the northern reaches. Bringing these two entities together will result in a stronger, more resilient economic development resource for this region.” All parties agreed on terms and the merger agreement was signed on December 21, 2020 with an effective date of December 31, 2020.
CEDC is one of 10 Regional Development Corporations (RDCs) in New Hampshire designated to foster economic growth. Resources are available for both for-profit and nonprofit organizations to assist in stimulating growth resulting in sustainable jobs in Coos County. CEDC maintains revolving loan funds for assisting businesses directly, and in conjunction with its banking partners. Additionally, CEDC has a broad range of grant programs for Technical Assistance, Non-Profits, Community Business Beautification, and recently Coronavirus Emergency Relief.
CEDC and BDC feel strongly that the merger falls within the scope of CEDC to promote economic opportunity and industrial development, establish and operate revolving loan funds for economic development, and continue to seek funding sources to promote in Coos County to achieve these goals.
To learn more about CEDC or the merger, please email firstname.lastname@example.org.