The Newark Community Economic Development Corporation was founded in 2007 to attract, grow, and enhance business capacity and encourage real estate development. The NCEDC plans on being the main economic catalyst for the city. The group’s only client is Newark.
In welcoming new business to Newark,the corporation promises to make the move mutually beneficial. The services that NCEDC offers are:
• Attraction and Retention of Business: The CEDC will guide companies who want to relocate to or expand in Newark by introducing them to the market, the demographics, workforce prospects, available real estate, and more.
• Real Estate Development: Many opportunities and many services are available, including site selection, approvals, permits, and funding.
• Small Business Help: A clearinghouse for small businesses and entrepreneurs who need assistance is available.
• Neighborhood Development: Each ward of the city will have its own director who will organize and co-ordinate new projects and enterprises.
The Newark CEDC is ready with benefits for the new and existing business owners. It provides façade renovation grants, business guidance for small businesses and entrepreneurs, tax credits and state levels exemptions, discount ads at movie theaters, loans for large real estate development projects, and more.
Kevin Seawright was the man chosen to manage the finances of this major undertaking. Kevin became the Executive Vice President and Chief Financial Officer in September, 2014. He arrived after 13 years of experience in finance in both governmental and private finance. His previous titles include:
• Budget manager
• Managing Fiscal Officer
• Payroll Director
• Finance Director
• Chief of Financial and Construction Projects
• Deputy Chief Operating Officer, Facilities
• Executive Director of Operations
The Newark CEDC hopes to boost the economy of Newark by attracting new business, as well as retaining the pluses – manufacturing, the arts, real estate development, education, health care and more. Kevin Seawright notes enthusiastically, “I believe in the city. I love working in city environments and revitalizing them. That’s what I’m passionate about: fixing organizations and fixing cities.”