We applaud the economic development initiative “REAP New Bedford,” which kicked off last week at the Whaling Museum in downtown New Bedford.
The Real Estate Assistance Program is being underwritten and managed by the New Bedford Economic Development Council, Inc. It will serve as a free clearinghouse listing available public and privately held land and buildings that are available for lease or rent.
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REAP New Bedford is the first of what is expected to be a series of public/private partnership initiatives launched earlier this year by New Bedford Mayor Frederick M. Kalisz, Jr. REAP’s mission is to maintain a detailed data base on commercial land and buildings, and serve as a conduit for interested developers and businesses to identify potential locations for expansion or new development.
Public/private partnerships not only work, they may be the single most important approach to economic development as we enter the new millennium. Stagnant economies need participation from the private sector. The renaissance in Providence has been spearheaded by a series of public/private initiatives. And though this latest effort in New Bedford is not on such a grand scheme, it is a step in the right direction for an old city searching for new ways to prosper.
Today’s New Bedford — like many American cities — needs to develop new ways to jump start economic growth. As old industries, like the fishing industry, become less dominant, cities need to redefine their economic vision. New Bedford is now looking to new avenues to spur economic development and officials are convinced the city has what it takes to thrive. By reaching out to developers and aggressively pursuing tenants for existing vacant properties, New Bedford may in fact recruit the kinds of companies that will embrace the historic city and capitalize on its proximity to Boston and Providence.
