Small business loan pool gets needed infusion of capital

NEW BEDFORD — The New Bedford Economic Development Council has secured a $750,000 low-interest loan from the federal Small Business Administration that will help the council recapitalize its loan pool so it can continue to meet the lending needs of the city's qualified small businesses, a council official said Monday.

"During this downturn, we have seen the NBEDC's loan portfolio act as a lifeline to many important, qualified New Bedford businesses," said Matthew Morrissey, the New Bedford Economic Development Council's executive director. "This is an important infusion of capital into that loan portfolio so that we can continue to do the work of helping businesses retain their employees and expand their job base in the city," said Morrissey. According to Morrissey, businesses have been hurt by the economic downtown not just because their own markets have softened but also because they've had a harder time accessing financing from traditional lending sources. Over the past 18 to 24 months, the New Bedford Economic Development Council... [read more]
 

 City celebrates Summerfest 15th year July 2-4

If Greater New Bedford Summerfest were a teenage girl, this year might mark its quinceanera. But organizers are still planning to give the 15-year-old folk music festival a proper birthday bash. This year's Friday opening concert is "very different from the others that we've done," said Westport resident Alan Korolenko, Summerfest's artistic director with his wife, Helene. "It's a 15-anniversary celebration." That means a bigger concert with more acts and "a whole different focus," Korolenko said.

The latter might be said for the event itself, a street music and arts festival tailored this year to move the hungry public off the sidewalks and into area restaurants. "We're really focusing on driving people to the local restaurants because we have so many now," said Pat Daughton, Summerfest's overall manager and the creative economy development officer for the New Bedford Economic Development Council. The council is managing the festival for the first time and is one of several sponsors, including the city of New Bedford, SouthCoast Media Group, Community Foundation of Southeastern Massachusetts and the New Bedford Whaling National Historical Park, according to NBEDC Executive Director Matthew Morrissey. Vendors will still sell seafood and a limited amount of streetside refreshments, Daughton said... [read more]
 

 Life science center touts SouthCoast's biotech potential

The SouthCoast has the potential to attract a host of biotechnology companies, thanks to committed local officials, existing and planned infrastructure and available land, members of state life science groups said Friday.

Fall River and New Bedford are competing against communities across the state, nation and world to attract biotechnology companies — those in marine science, medical-device manufacturing, diagnostics and other fields — that often bring with them high-paying jobs and steady growth.

They are also fighting for funds under the state’s 10-year, $1 billion Life Sciences Act, which aims to keep those jobs in-state through capital grants, tax breaks and other methods of investment.

The SouthCoast has “the ingredients and the recipe” to become a hub for biotechnology, largely by offering a lower-cost alternative to Boston or Cambridge, where so much of the state’s biotech companies are based, said Robert Coughlin, the president and CEO or MassBio, a nonprofit organization for the industry... [read more]
 

 Jobs potential touted in tour of State Pier overhaul

NEW BEDFORD — Work on a multimillion-dollar overhaul of State Pier that will address various structural deficiencies in the building could be complete by November, an update that will help breathe new life into the facility. Lt. Gov. Timothy Murray, chairman of the Seaport Advisory Council, which is funding the $2.2 million project, toured the building Thursday with city officials and council staff. "If you've got a modern, up-to-date facility that can be used for multiple purposes, it makes it a lot more attractive," said Murray during the tour. "We think there's a lot of opportunity."

The work will be split into two phases to accommodate the Commercial Marine Expo, a trade show to be held in the space in early June. The initial phase of work is focused on improvements that will enhance the facility for the trade show, such as the curing and leveling of the floor, constructing encasements around columns in the building and repairing the roof, according to Kristin Decas, executive director of the city's Harbor Development Commission. Once the expo is over, work will begin on demolishing the back bay of the building to increase the apron space outside, which is needed... [read more]
 

 Proud city helps boatyard cut ribbon on indoor facility

NEW BEDFORD — Bayline Inc. Boatyard and Transport on Tuesday officially opened its new 27,000-sqare-foot, indoor facility, a multimillion-dollar expansion that will allow the company to store and repair vessels year-round in a temperature-controlled environment.

Owner Robert K. Gardner III gathered Tuesday with Mayor Scott W. Lang and other city officials at the new facility, located at 4 Silva St., for a celebratory ribbon cutting. "Bob is ... a small business leader who is — job by job, expansion by expansion — an example of the kind of growth New Bedford is seeing," said Matthew Morrissey, executive director of the New Bedford Economic Development Council.

NBEDC provided gap financing for the $2.5 million project, while Bridgewater Savings Bank was the primary lender. The new facility marks a significant expansion for the company, which has been in business since 1986. "We started here 13 years ago with a small parcel of land that we leased with just a couple of boats," Gardner said. Today, the company has the capability to store about 300 boats, according to Lang, and offers its customers a range of services from storage to repair work to transport. In addition to creating indoor storage space, the new facility will allow the company to consolidate all of its maintenance and repair functions and its administrative offices under one roof, Gardner said... [read more]

 Annual festival draws 2000 to historic district

NEW BEDFORD — It's always a good day when the weather is perfect, the bands are rocking and the food is delicious. That was the scene Sunday at Custom House Square as an estimated 2,000 people sampled tasty foods, enjoyed the company of friends and feasted on music throughout the afternoon at the fourth annual Taste of SouthCoast.

"It's a perfect day," said Bob Souza of New Bedford, who attended the event with a friend. "We had a nice time. We relaxed. We enjoyed the bands." "I'm from Bristol (R.I.), and I think you guys have the best community events," Fern Roth said. "It seems like you do a lot of community events — monthly events."

Roth and her two friends heaped praise on the food, the music and the organization at the event, which was held in the heart of the city's historic district. For $15, people got the chance to sample an international offering by many of New Bedford's most popular dining spots, drink some of Massachusetts' best beers and wines and listen to the sounds of The McCarthy, Richards, Legge Trio and Joshua Tree, considered Boston's premier U2 cover band. "I love what New Bedford does 'cause it's so positive-oriented," said Russell Kandalaft, owner of Freestone's, one of the restaurants that had a booth under a tent... [read more]

 New Bedford nonprofit rescues 1834 city house

In any other city, a charred, 176-year-old mansion with gaping holes in the roof might have been demolished. But not in New Bedford, Mass., where the mayor and a nonprofit preservation organization joined forces to save a historic reminder of the town's whaling past.

In 2005, fire broke out in the 1834 John Howland Jr. House, a Federal/Greek Revival mansion built by a local family that made a fortune in the whaling business. Rhode Island-based F & S Enterprises bought the severely damaged house (long used as an apartment building) at auction, and last November applied for a permit to tear it down.

Hoping to save the building, New Bedford Mayor Scott Lang encouraged F & S to sell the structure to the Waterfront Historic Area League (WHALE). By April, the league had managed to raise $237,000—all of its staff members personally chipped in—and purchase the house. The City of New Bedford also contributed $50,000 toward the purchase price. "We knew we had to act," says Lisa Bergson, executive director of WHALE, founded in 1962. "We felt strongly that the house was at such great risk that the only real way to save the building was to acquire it. ... There aren't many of these grand brick mansions in New Bedford." "The John Howland Jr. House is too important to lose," Mayor Lang said in a statement. "Demolition of this historic property was not acceptable, and my administration has been... [read more]

 WHALE to recognize preservation projects

NEW BEDFORD — "Preservation is for Everyone" is the theme of WHALE's 48th annual meeting to be held 6 p.m. Tuesday [May 18] in the Whaling Museum Theatre, 18 Johnny Cake Hill. The historic preservation organization annually celebrates outstanding preservation projects that take place throughout the region to underscore that preservation is alive and well locally and can be undertaken by anyone.

The meeting is free and open to the public. In addition to the preservation awards, the organization's officers and directors will be elected and a review of the organization's activities over the past year.

Anyone interested in attending should register by calling (508) 997-1776 or e-mailing info@waterfrontleague.org.

Sarah R. Delano Awards are given annually to New Bedford area individuals and organizations that have made outstanding contributions to the rehabilitation, restoration and interpretation of the historic character and environment of Greater New Bedford. Delano was WHALE's president from 1966-82 and was the driving force behind many of the Waterfront Historic Area League's most noted projects, including the Zeiterion Theatre, the Rotch-Jones-Duff House and Garden Museum, the Benjamin Rodman House, the Andrew Robeson House... [read more]

 Quest Center company BOT USA integrates GPS for unmanned underwater vehicle

Brooke Ocean Technology - USA announces it has received a $705 thousand order, from the U.S. Defense Department to continue the next phase of the integration of a GPS communications antenna with an Unmanned Underwater Vehicle (UUV).

The contract supports the further development and implementation of a UUV based underwater winch tethered to a hydrodynamically designed antenna that supports two-way radio frequency communication and GPS reception which would greatly enhance the identification and localization capabilities of all UUVs.

Roger Race, General Manager, said “one immediate benefit to UUV users will be the facilitation of real time commands to the vehicle, which would allow ‘on-the-fly’ mission changes.” Race added that accurate location of the vehicle while patrolling in smaller bodies of water and harbors will now be possible because of accurate GPS fixes.

“This is a good example of how BOT USA ocean expertise and experience can help other industries position themselves into new markets” said Race... [read more]