Celebrating 24 years of providing economic development services to the region!
WEDCO's mission is to promote and support businesses and the creation of employment opportunities by providing development assistance and financing.
|FREQUENTLY ASKED QUESTIONS||WEDCO CAN PROVIDE FINANCING FOR:|
Tht purpose of WEDCO's financing is to retain and create employment opportunities for area residents. The primary criteria is the retention and/or expansion of the regional employment base, leveraging additional financial resources, and demonstration of the borrower's ability to repay.
WEDCO is a private non profit 501 (c)(3) regional economic development corporation serving businesses of all sizes in the New Hampshire towns of Brookfield, Effingham, Farmington, Milton, Middleton, Moultonborough, New Durham, Sandwich, Tuftonboro, Wakefield, Wolfeboro, etc.
Wolfeboro-- When Leone McDonnell Roberts decided to redirect $2500 of their 2017-18 state business tax liability to Wentworth Economic Development Corporation (WEDCO), they knew it was a wise use of money. They are Certified Public Accountants, after all.
Since 1999, New Hampshire businesses have had the unique opportunity to contribute to worthwhile nonprofit projects and receive a 75% tax credit for that contribution. The Community Development Finance Authority’s Tax Credit Program enables businesses to invest cash, securities and property to community, housing and economic development projects. This is the second year Leone McDonnell Roberts has given to WEDCO, says partner Evan Stowell. “We have seen the returns WEDCO makes to our local community. Their support of area businesses and community nonprofits enriches the lives of year-round residents and visitors alike. We are pleased to direct some of our firm’s business tax to WEDCO programs that make such a positive impact.”
Explains WEDCO director Denise Roy-Palmer when speaking to prospective donors. “The tax credit program allows you to invest in local community and economic development projects and receive a 75% state tax credit for your contribution; this credit is then applied against your business enterprise tax, business profits tax and/or insurance premium tax. The donation is also considered a federal charitable contribution.”
In addition to providing loans to businesses, WEDCO offers business education and support through the US Small Business Administration and SCORE mentors, and acts as lead agency to a variety of grass-roots initiatives like the recently completed Cotton Valley Trail running along the railroad corridor from Sanbornville to Wolfeboro, and the new “Explore Moose Mountains” recreation and tourism tool headlined by “The Moose, New Hampshire” Facebook page since May, and the ExploreMooseMountains.org website unveiled just recently.
The NH Community Development Finance Authority has provided WEDCO with the opportunity to raise a total of $25,000 in Tax Credit Pledges before March 31, 2018. Contributions are due no later than June 30, 2018. The benefits of redirecting state taxes to WEDCO are clear.
To illustrate: A contributing business makes a $10,000 cash investment in WEDCO or another CDFC-approved project. It receives a state tax credit in the amount of $7,500. After taking additional federal tax benefits, the contribution actually costs the company $1100, or about 11% of the $10,000. The program is a tangible way a business can positively impact economic development in its own community.
In Good Hands chiropractor: practice opens in Wolfeboro with assistance from WEDCO
Dr. Renee Tetreault cites whole body, whole life benefits of chiropractic care
WOLFEBORO — Just in time for those New Year’s resolutions for better health, Dr. Renee Tetreault opened In Good Hands Chiropractic, PLLC, on Elm Street, an endeavor brought forth with many local helping hands, in fact.
After earning her Doctorate of Chiropractic at Life University in Marietta, Georgia, and spending the requisite amount of time earning credit hours and passing four national boards to become licensed, Dr. Tetreault set her sites on opening her own practice in Wolfeboro. She chose Wolfeboro as her husband, Matt Tetreault, works as a guidance counselor at Tuftonboro Elementary School and she also worked locally at other chiropractic practices – filling in for vacations and such -- after earning her license. In March 2016, she “jumped in with both feet,” and when she met with a business mentor from SCORE Lakes Region, he recommended she speak with the Wolfeboro-based WEDCO [Wentworth Economic Development Corp.], a nonprofit organization whose mission is to promote and support businesses and the creation of employment opportunities by providing development assistance and financing.
Left to right: In Good Hands Chiropractic, PLLC, Practice Manager Claudia Kay and Dr. Renee Tetreault at the newly opened practice on Elm Street.Read more ...
Jeff Seligman will be serving as Business Advisor for the NH SBDC’s Seacoast region, bringing over 30 years of experience both in emerging and large corporate enterprises. Most recently he was founder and Chief Consultant at AimJo Management Services, LLC, where he provided financial leadership and operations management services to emerging enterprises and served as part-time CFO of many of the company’s clients. Jeff’s background includes senior management positions at TokenCount Systems Corporation where he was co-founder and Think Outside, Inc. where he served as CFO and Vice President of Operations. While at Compaq Computer Corporation, he led Finance and Operations for the Industry Solutions Division, a multibillion dollar division of the firm. As a veteran of Digital Equipment Corporation, Jeff held multiple finance and operating management positions during his tenure of more than 20 years with the company. Jeff earned his BS in business administration from Northeastern University and his MBA at Western New England University.
To make an appointment with Jeff please call NH Small Business Development Center (603)842-8341, for more information please visit www.nhsbdc.org
Local SCORE Counselors from the SCORE Lakes Region Chapter No. 172 are available to provide free and confidential mentoring services to aspiring and active business owners. SCORE the "Counselors of America's Small Business Owners" is a national association dedicated to helping small business owners form and grow their businesses. Mentoring services are offered in Wolfeboro and throughout the Lakes Region, for more information or to schedule and appointment call 524-0137.
SBDC Advisor Available - NH Small Business Development Center (SBDC)
Free and confidential counseling services offered to aspiring and active business owners for Wolfeboro and the surrounding communities. Sample topics include business planning, financial analysis, marketing, accounting, cash flow projections and new business/acquisition feasibility and evaluation. Whether you are in the early stages of a creating a business or own a well established business you will benefit from the counseling service. Jeff Seligman meets one on one with clients. To make an appointment call 603-842-8341.