The city of Newark’s Community Economic Development Corporation (CEDC), formerly know as Brick City Development Corporation, is reopening in a week. The corporation has undergone a complete overhaul with new staff members, new board of directors and new attitude.
The corporation was set up in 2007 to bring economic development to the city of Newark. This is achieved by organizing ways to attract and enhance businesses to the neighborhood. The city of Newark is the sole client of the CEDC. The corporation has partnered with the Economic Housing and Development Agency to generate jobs and create more opportunity for the city.
VisualCV.com writes that to help implement city initiatives, the city has hired Baltimore financial manager Kevin Seawright. For over 13 years, Seawright has worked at various state and federal agencies within the city of Baltimore. He has a proven track record, and while holding the position of financial director for the city’s Commission on Aging and Retirement, his newly-installed accounting system saved the city thousands of dollars.
Seawright also held financial positions at Baltimore’s Housing Authority, the Department of Housing and Community Development and the Department of Recreation and Parks. According to Seawright, he developed a particular insight into finance while working for Tito Contractors in Washington, D.C. CEDC board of directors are positive that Seawright’s long and distinguished track record will help bring positive change to Newark.
The complete rebooting of the organization is what the city hopes will be the catalyst to furthering the CEDC vision. The drop in minority owned businesses is also a concern of the CEDC. New initiatives are also being formatted to help minorities give back to their community.
The CEDC is enacting other initiatives to help potential business owners secure funding. The foundation offers grants, marketing strategies and financial counseling services. Larger scale projects are given special attention including help with tax credits and exemptions.