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What Is The Derry Economic Development Corporation?
The Derry Economic Development Corp is part of an extensive partnership with other development corporations in the State of New Hampshire. We work very closely with the State Department of Resource and Economic Development and their division of the State Office of Economic Development and other Development Corps in the Southern region of New Hampshire.
The Derry Economic Development Corporation formed in 1991 as the Derry Economic and Preservation Corporation is a private non-profit development corporation that works to create and expand employment opportunities and diversify the tax base by promoting responsible economic growth in Derry.
An all volunteer board of directors who live or work in the Derry area. Jack Dowd, a paid executive director, runs the organization in our office located above Sovereign Bank on East Broadway. In short, the DEDC is trying to create an environment where businesses are able to move to Derry, employ our citizens, and pay business property taxes to offset the town’s reliance on residential property taxes.
The DEDC is funded by revenues from revolving loan funds as well as Community Development Block Grants. The organization is also developing new income streams derived from our investments with in the town and the redevelopment of real estate in Derry.
In a community of almost 36,000 residents an organization like the DEDC is a vital component to the responsible development of the town. The director and the volunteers, who make up the DEDC, serve as a liaison between private sector and the town council, administrator and other town departments, banks, corporations, land and property owners and people wanting to start or relocate a business in Derry. This work includes developing conceptual site plans, finding financing programs that fit project needs, and many hours meeting and talking with anyone and everyone that can help us with our mission. It also includes meeting and dealing with State and local officials and agencies and attending planning and zoning meetings that pertain to anything that will adversely affect business.