NBEDC to Manage Operations of the Greater New Bedford Industrial Foundation

FOR IMMEDIATE RELEASE
For more information, contact:
Elizabeth Isherwood, Chair
Greater New Bedford Industrial Foundation
508 996 3946; eisherwood@micomm.com
 
Anthony Sapienza, Board President
New Bedford Economic Development Council
508 961 1732; ars38@tmw.com
 
GREATER NEW BEDFORD INDUSTRIAL FOUNDATION ENTERS INTO MANAGEMENT AGREEMENT WITH THE NEW BEDFORD ECONOMIC DEVELOPMENT COUNCIL
NEW BEDFORD, MA (August 28, 2014) – – As of August 1, 2014, the Greater New Bedford Industrial Foundation (GNBIF) entered into a strategic agreement with the New Bedford Economic Development Council (NBEDC) whereby the NBEDC will provide the general management, strategic planning and development, and marketing services for the daily operation of the GNBIF and the needs of the New Bedford Business Park companies.
The retirement of GNBIF Executive Director Tom Davis in July 2014 has precipitated the decision of the Industrial Foundation’s board to coordinate economic development activities with the NBEDC.
“With just two lots left to sell in the New Bedford Business Park, the need for a full-time executive director no longer exists. This strategic partnership is an opportunity that allows both the Foundation and the Council to further our goals of job creation and economic development,” said Industrial Foundation board Chairman Elizabeth Isherwood. “In addition to our administrative assistant, Lisa Costa, we are gaining the full support of the Council’s trained staff.”
NBEDC board President Anthony Sapienza stated, “This move allows the NBEDC to maximize the efficient and cost-effective development of strategic projects in the City of New Bedford. All of the entities that are concerned with job creation and retention are now housed under one roof and working together. Previously, Tom Davis worked with the business park companies. Our staff stands ready to help the Foundation with its economic development needs.”
The Industrial Foundation is moving its offices from 227 Union Street to the 1213 Purchase Street location.
The Greater New Bedford Industrial Foundation was founded in 1955 by a group of forward-thinking businessmen who raised money to buy and develop the New Bedford Business Park with the goal of expanding the industrial base and creating more jobs in New Bedford. Over the ensuing decades, through the normal up and down economic cycles that the area experienced, the land was periodically sold. Through company expansions and relocations, the New Bedford Business Park now employs 4500 people and is a focal point of potential job growth.
The Greater New Bedford Industrial Foundation is a nonprofit organization dedicated to bringing jobs to New Bedford and Dartmouth that currently focuses on facilitating the development and expansion of businesses within the New Bedford Business Park; managing and improving the Park; and acting as an advocate for tenants of the Business Park. For more information, call 508 992 2678 or visit www.gnbif.com.
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