Two New Hampshire regional economic development groups join forces
Regional Economic Development Center, Coastal Economic Development Corp. join forces
The Regional Economic Development Center of Southern New Hampshire and the Coastal Economic Development Corporation have merged, creating one organization designed to provide comprehensive services for the business community throughout Southern New Hampshire, the groups announced.
All existing CEDC operations, staff and loan portfolio will be acquired by REDC, which will serve the more than 160 loans under management, according to a news release.
The merger of the two nonprofit regional economic development corporations will streamline lending and technical assistance services and reduce overhead costs, the groups said. CEDC President Daniel Gray was named executive vice president at REDC; Laurel Adams will remain as REDC president.
REDC primarily provides services to businesses in southern New Hampshire. CEDC offered assistance to businesses in Portsmouth, New Castle, Newington, Rye, Greenland, North Hampton, Hampton, South Hampton, Hampton Falls, Seabrook and Kensington.