Two Coos County economic development groups merge

Signing the papers for the merger of Coos Economic Development Corporation and Borders Development Corporation are from left, BDC President Scott Cooper, Glenn Coppelman, president of the CEDC Board of Directors, and CEDC Executive Director Lise Howson. (COURTESY PHOTO)

LANCASTER — Coos Economic Development Corporation and Borders Development Corporation this week announce their merger.

The merger will combine and strengthen economic development activity in both the Borders Development Corporation service area and Coos County.

Coos Economic Development Corporation will be the named entity carrying forward the mission for Coos County in alignment with its existing mission statement, while Borders Development Corporation assets will remain restricted for continued economic investment in the current areas that it serves in both New Hampshire and Vermont.

“This merger is good for the economic development of our County,” said Lise Howson, executive director for Coos Economic Development Corporation. “It means that resources are pooling so that they can have greater impact, and by restricting BDC assets to where they previously were applied it emphasizes the lesser populated area in Coos.”

“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,” said Scott Cooper, president of Borders Development Corporation. Cooper also said, “BDC will continue to have both board representation with Coos Economic Development Corporation as well as having local leaders serve on an economic advisory board for the area.”

Glenn Coppelman, president of the Board of Directors for Coos Economic Development Corporation, said that the organization is “thrilled to be a part of further economic development for Coos County and that the merger will increase the impact of CEDC in the northern reaches. Bringing these two entities together will result in a stronger, more resilient economic development resource for this region.”

All parties agreed on terms and the merger agreement was signed on Dec. 21, with an effective date of Dec. 31.

Coos Economic Development Corporation is one of 10 Regional Development Corporations in New Hampshire designated to foster economic growth. Resources are available for both for-profit and nonprofit organizations to assist in stimulating growth resulting in sustainable jobs in Coos County. 

Coos Economic Development Corporation maintains revolving loan funds for assisting businesses directly, and in conjunction with its banking partners. Additionally, it has a broad range of grant programs for technical assistance, non-profits, community business beautification, and recently coronavirus emergency relief.

Coos Economic Development Corporation and Borders Development Corporation feel strongly that the merger falls within the scope of Coos Economic Development Corporation to promote economic opportunity and industrial development, establish and operate revolving loan funds for economic development, and continue to seek funding sources to promote in Coos County to achieve these goals.

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