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Gloucester City Economic Development Corp Wants to Rebuild Commercial Base

PRESS RELEASE (republished from the Gloucester City News)


RELATED CATEGORY: YOUR MONEY


 

GLOUCESTER CITY NJ--(January 31, 2013)The business purpose of the new Gloucester City Economic Development Corporation (GCEDC) is to “Rebuild Gloucester City’s commercial base by rehabilitating properties to retail-ready condition and promoting Gloucester City as a desirable business location,” said David Stallwood, Chairman.


Gloucester City Business Association (GCBA) board members contacted numerous cities with UEZ’s in New Jersey, as well as the UEZ Program Office in Trenton, over a 12-month period to get ideas for a plan of action.

 

They GCBA members learned that economic development corporations were the gold standard for effective, business-oriented, urban development.


Therefore, the GCBA paid to incorporate the Gloucester City Economic Development Corporation (GCEDC) as a NJ non-profit corporation in June of 2012.


Founding trustees include: David Stallwood  (Chairman), Frank Antico (Vice Chairman), Bob Booth (Treasurer), former Mayor Bob Bevan, Councilman Daniel Spencer, former Councilman and Planning & Zoning Board member Nick Marchese, and Planning & Zoning Board President Frank Wunsch. 


All board members are non-paid volunteers.


The GCEDC revisited past consultant reports and resurveyed business owners, as well as Mayor and Council, and determined that the languishing Monmouth Street Business District was the new corporation’s top priority.


Therefore, GCEDC applied for a UDAG loan from the City of Gloucester and purchased two commercial properties on Monmouth Street in December with the intent to quickly rehab them and attract new vibrant businesses to Gloucester City.


The GCEDC was also approved by Gloucester City’s Mayor and Common Council to manage the city’s Urban Enterprise Zone (UEZ) at its December 20 meeting.


Dave Stallwood, GCEDC Chairman, said, “It is exciting to finally have an effective organizational structure in place to leverage limited financial resources to better serve our business community and its citizen/customers.


“We encourage all business owners to join the GCBA and bring your ideas and energy to the table.


“We also encourage our Gloucester City customer/citizens to become part of this important revitalization effort by helping us identify and recruit businesses that will enhance our community,” Stallwood said.


Gloucester City Economic Development is a registered NJ non-profit corporation whose business purpose is to rebuild Gloucester City’s commercial base. 


“We can currently be reached my mail at PO Box 602, Gloucester City, NJ, 08030 and via a new web site and email in the near future,” Stallwood said.


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