Opportunity Zone Workshop

Who Should Attend: economic development professionals, real estate developers/brokers, potential investors, and small business owners/incubators

The Connecticut Economic Resource Center, Pullman & Comley, seCTer, and Norwich Community Development Corporation invite you to learn more about the new federal Opportunity Zones program and how to grow business through long-term investments in low-income communities.

Last December, federal lawmakers created the federal Opportunity Zones program for investors to re-invest their unrealized capital gains into Opportunity Funds – private investment vehicles dedicated to community, business, real estate, and economic development activities in America’s lowest-income communities.

This event will provide a comprehensive background and expert analysis of the new program, as well as recommendations for cities, philanthropies, advocates, and private sector representatives interested in Opportunity Fund creation, operation, and management and equitable development outcomes throughout our nation’s 7,927 newly designated Opportunity Zones.

Agenda & Speakers:

8:00 am – Registration/refreshments

8:15 am – Program begins
Bob Santy/CERC (MC) – how towns prepare for this program
Liddy Karter/Enhanced Capital – investment
Pullman & Comley – legal aspects
DECD/NDC – requirements and info about other programs at the state and federal levels

9:30 am – Q&A, followed by networking

 

Register

 

How to start a Community Development Corporation

Economic development does not happen by itself.  To be successful, it takes careful planning, negotiation, and a whole lot of resources.  This is where a Community Development Corporation comes into play.  The corporation provides human resources and serves as a conduit for grants to help get the job done.  Please take a look at the document linked here for comprehensive information regarding the task of starting a Community Development Corporation.  Economic Development is a subset of Community Development, and a very important component of the development of the community as a whole.  We want our community to grow and to thrive.  Perhaps it’s time to get serious, and find the resources we need to help Montville prosper.  What do you think?

Phillips Edison and Company wish to further develop Montville Commons

Montville Commons has two outparcels available and are seeking input from the city for their development. They would like to consider alternative uses which may be of benefit to the community (i.e. medical, office, civic, education, etc.).

They have the necessary capital to develop these sites, we just need a user. If the city is aware of any organizations who are looking for sites, please let us know. Our company is happy to pursue any opportunities that the city can provide.

The Site plan  is available as is a Flyer that may help market this property.

Fundamentals of Economic Development – A Transformational Approach

The Connecticut Economic Resource Center (CERC) and the Connecticut Economic Development Association (CEDAS) will be conducting municipal Economic Development Training at the New London Science and Technology High School on Wednesday June 20th at 4:30pm.   RSVP via email to djayned@gmail.com  or rmeneses@ci.new-london.ct.us 

The free 90 minute workshop is geared to ALL who impact economic development, and is designed to get everyone working collaboratively. The curriculum will answer the following questions:
• What is economic and community development?
• Who is responsible for economic development?
• What role does/should your “economic development team” and community play?
• How do you convince your residents and businesses of the importance of economic development?
• How is your municipal economy impacted by the state, region and global economy?
Additionally, attendees will receive information about research, marketing and general economic development practices, as well as resources and tools available to achieve economic development results.

seCTer CEDS recognized as Best Practice

seCTer announced that their most recent regional Comprehensive Economic Development Strategy (CEDS), which was approved by EDA last November, has been recognized as a Best Practice Model by the National Association of Development Organizations (NADO). The story can be found here: https://www.nado.org/ceds-spotlight-southeastern-connecticut-enterprise-region/  It is also shown on NADO’s homepage under latest news: https://www.nado.org/ and will be featured on their social media in the coming weeks.

Nancy Cowser to Present to the EDC

Nancy Cowser of seCTer will be presenting to the EDC during our regular meeting for the month of July!  seCTer is the lead regional economic development resource, stimulating growth and prosperity in Southeastern Connecticut.  We are excited to have Nancy join us and share information with us about her organization and how we might work with them going forward.