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Does NBEDC charge for its incentive programs and services?
With the exception of nominal loan fees, NBEDC does not charge
for its incentive programs and services.
Is my inquiry confidential?
Yes. Businesses receiving financing from NBEDC may have their
names and loan amounts published, but confidential financial
information remains just that. However, TIF applications are
public documents.
How do I get more information about NBEDC incentive programs and
services?
For more information, please call the office at 508.991.3122
Financing question please ask for Nancy M. Gibeau
What is NBEDC’s mission?
New Bedford Economic Development Council, Inc. Is a
public/private partnership, whose mission is to provide
leadership by building consensus on the city's economic future,
coordinating economic development initiatives, and serving as a
business liaison to city hall; and to provide financing, and
educational opportunities in order to create and strengthen
economic development opportunities in greater New Bedford.
Is NBEDC a government agency?
No. NBEDC is a public/private partnership that works in
partnership with the City of New Bedford to foster economic
development. The office has a professional staff and an
independent board of directors, representing a cross-section of
business and community leaders.
How does NBEDC accomplish its stated goals?
NBEDC offers aggressive business incentives including fixed rate
financing loans, tax exemptions, employee recruitment and
training services, site selection assistance, and technical and
consulting support.
What types of loan products does NBEDC offer?
NBEDC offers a range of loan programs to help businesses expand
in New Bedford. The funds may be used for real estate, machinery
and equipment, working capital, and soft costs such as
advertising and accounting. NBEDC’s loans can be combined with
private, state and federal funds. A detailed list of all
available loans can be found on our Service page under Loan
programs or call our Loan Officer at 508.991.3122
What types of tax incentives does New Bedford offer?
As an Economic Target Area, the City of New Bedford is able to
certify eligible projects and provide local Tax Increment
Financing (TIF), a 5% state Investment Tax Credit, and in some
cases, a 10% state Abandoned Building Tax Deduction. If you have
any tax incentive questions please call our office at
508.991.3122
Why is New Bedford a good place to do business?
New Bedford boasts an exceptional pro-business climate. The
workforce is second to none, business costs are extremely low,
there is a strong private-public partnership in place, and the
city’s quality of life is outstanding. |
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