|Program||# of Grants||EDA Funds|
The seacoast region of southern New Hampshire has suffered from the severe depletion of fishing stocks which caused consolidation within the industry and displaced hundreds of commercial fishing and fishing-related jobs. Compounding these already devastating losses, the region lost more than 1,185 manufacturing, communications and healthcare jobs through business closures and downsizings. In response, EDA deployed an Economic Development Assessment Team (EDAT) to the state in 2011 to assess these impacts and the need for economic diversification. The EDAT report was clear: southern New Hampshire needed greater support for new and growing businesses, particularly in the areas of business skills and workforce training.
Opened in May 2014, the Regional Economic Development Center of Southern New Hampshire (REDC) was constructed with $432,000 in assistance from EDA. Located in Raymond, the business and training center provides local entrepreneurs with access to instruction, reference materials, meeting space, and a high-speed Internet computer center. These basic services, which are so essential for new business development, previously did not exist within the region. Since its opening, REDC has hired an in-house business advisor who has counseled over 40 businesses, and the Center recently added marketing and design to its menu of technical assistance services. REDC also hosts its own business development workshops and classes, free of charge to attendees. During this period, REDC also approved 12 loans totaling more than $1.5 million that will leverage more than $21 million in private investment into the southern New Hampshire economy, creating and retaining nearly 80 jobs.