Lancaster-based Coos Economic Development Corp. and Borders Development Corp. of Colebrook, two key North Country economic development agencies, have merged.
The two organizations will combine under the Coos Economic Development Corp. name, said Lise Howson, executive director of CEDC.
She said the merger “is good for the economic development of our county. It means that resources are pooling so that they can have greater impact.” She said the merger means that CEDC will now have more of an impact in the northern, less populated area of Coos County, since Borders Development Corp.’s assets will be restricted for use in the Colebrook area.
The
merger of Coos Economic Development Corp. and Borders Development Corp.
‘is good for the economic development of our county,’ says CEDC
Executive Director Lise Howson.
According to Scott Cooper, president of BDC, “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.”
CEDC is one of 10 regional
development corporations in New Hampshire, providing resources to
for-profit and nonprofit organizations to help stimulate growth and jobs
in Coos County. Its resources include revolving loan funds and a range
of grant programs.
Glenn Coppelman, president of CEDC’s board, said the merger agreement was signed on Dec. 21, 2020, and took effect on Dec. 31.
