CEDC: A Blessing of Newark City

Inside New Jersey’s largest city, Newark is an economic development community which was founded in 2007. The Brick City Development Corporation (BCDC), a non-profit organization re-organized in 2014 into Newark Community Economic Development Corporation (Newark CEDC), is among the largest community developments in the United States specializing in retaining, attracting and growing small and minority business capacity in the 20 neighborhoods of Newark. It also manages real estate development in the same city.

In 2015 May 19, CFO Kevin Seawright, Who has remarkable experience in accounting, operations and diverse capital management, was welcomed as the Vice President and the Chief Financial Officer. In his previous life, Mr. Seawright 13 years on the East Coast bettering community lives. He worked as the Vice President of Operations and Human Capital between 2011 and 2013, then as the Executive Director of Operations in Maryland. Throughout his work Kevin is well known for formulating business strategies in accounting and financial divisions. He also transformed corporate revenue planning process across boards in the Mid-Atlantic Regions.

His strategic vision and ability helped forecasting returns of up to 25% inclusive of goods and services, enhanced recruitment efforts, adjusted compensations and changed managements. As a result, standardization, service deliveries and company performance were improved. He even invented an accounting system that saved Baltimore’s Commission on Aging and Retirement a whopping $100,000. On top of that, he has masters in accounting from Almeda University under his golden belt.

With their office now moved from 744 Broad Street TO 111 Mulberry Street, a move that saved the agency up to $250,000, the organization improved greatly in its service delivery to its sole clientele, The Newark city. During the same year they were reorganizing, CEDC’s collaboration with Newark Department of Economic and Housing Development grew stronger. This collaboration initiates and executes economic development activities which produces and sustains economic growth in turn generating jobs and creating wealth for the citizens of Newark.

The greatest services being offered by the CEDC community include, business attraction where they work with interested companies, introduce businesses and help already established businesses get the best locations. It also offers help in the real estate industry by selecting the best sites, providing permissions and approvals. In the small businesses sector, they work hand in hand with business owners by clearing house for them. It improved (and still improves) neighborhood by managing projects and implementing development initiatives.

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