NH Business: Surprisingly similar economic realities for the Monadnock region and the Coast region.
Fred Kocher will be joined by Cody Morrison, executive director of the Monadnock Economic Development Corporation, and Darren Winum, economic development director for Exeter/Seacoast Economic Development Associates, representing both the Monadnock and Seacoast regions. We discuss similar economic realities in .
Updated: April 14, 2024 7:11am EDT
work. I'm Fred Kocher. He often says that each of his seven regions in New Hampshire is different and has its own strengths and charms. Look at his two graphics below. I asked my guests what the big issues were in their area. Here's what they told me: Monadnock region, Cheshire County and Western Hillsborough County. workforce development, child care, and housing. And now, my other guest, the coastal areas, eastern Rockingham County and southern Strafford County, are finding workers, affordable housing is available, child care is available, and in terms of the labor shortage. is not clearly different in these regions. Child care shortages and affordable housing shortages plague the entire state. So we talked to Cody Morrison, executive director of the Monadnock Economic Development Corporation, and economic development director and member of Exeter and Seacoast Economic Development about how this is impacting their businesses and the region's economy. Let Darin Windham explain. Person concerned. welcome. I'm glad to be able to work with both of you. thank you. Thank you, Fred. So how does this combination affect your business and fair development? Because your economic development is long-term. These are short-range and real problems at this time. Cody. of course. Well, thanks Fred. Well, the premise is simple. Companies need skilled workers, workers need homes, and workers need adequate child care to support growing families, but companies are having trouble finding workers. , which may hinder the expansion of the workforce. You can also bid on new opportunities and contracts that can have a direct impact on your local economy. Does that mean we are addressing these short-term issues in order to achieve long-term economic development? absolutely. Yeah. And ditto Durham. Exactly the same problem. Yes, I know exactly the same problem too. We obviously have workers, um, there's a shortage of workers because they can't find homes and places to live. Now apartments are exorbitantly priced. There aren't that many. The same goes for house hunting. It's even more difficult because obviously prices are a little higher in my area. Yes, our employers, they have vacancies left and right, and it's just not across the board. It's manufacturing, it's retail, it's restaurants, it's factories, etc. Yes, please continue. What are you doing about these issues? Are you starting to do something innovative? yes. So Exeter are definitely thinking positively in this regard. For example, we have a project. Invest in Company H and pour money into it. It is considering mixed-use projects. This is my favorite mixed use. And in front of it is 50,000 square feet of commercial space. And behind that will be 224 apartments, 56 of which will be employee apartments. interesting. Same question. What innovative things are you doing to address these issues in the Keene and Monadnock region? Absolutely. That's why our organization, the Monadnock Economic Development Corporation, is launching the Regional Housing Development Fund. The fund provides flexible funding for local projects that renovate or create new units. In one project, we provide affordable housing, affordable and market rate housing and market rate. One of the projects we recently helped complete was a 57-unit expansion in downtown Keene. This will create a three-story building on top of an existing industrial building of approximately 80,000 square feet, right next to downtown, right next to downtown, and right next to downtown. Um, let's go to this graphic. These are the median home prices for the Coastal and Monadnock areas. Oh, look at this. Well, we talk a lot about her 500,000 home prices across the state. Well, the median home price in Rockingham is 665 and Strafford County is 482. It is currently located in the coastal area of the Monadnock region. 347 500IN Cheshire County. And parts of Hillsborough County are also at 5.31UH. These housing prices are forcing workers to look for apartments, but as you know, the state's apartment vacancy rate is below 1%. Hard to find. And that's true for both of your regions, I'm sure. right? that's right. Yeah. Apartment. yes. not found. Is it under construction? Well, they are, they're doing well, it's underway. He's just getting final approval and then we'll move forward with it. yes. So is Darren. How houses, or apartments, are built. Ah, it's true that finding an apartment these days is really a word-of-mouth game. Well, it's rare to find an apartment or a place to live the old-fashioned way, by driving through a neighborhood anymore. Imagine you drive around your neighborhood and try to see a rental sign that doesn't actually exist anymore. That's right, that's right. oh yeah. And, um, I have family members who have that problem. Well, anyway, thank you to Cody Morrison, executive director of the Monadnock Regional Economic Development Corporation, and Darren Winham, executive director of economic development for Exeter and member of the Coastal Economic Development Stakeholder. I like that word. Anyway, thanks for being here. thank you. If you missed any part of this briefing,
NH Business: Surprisingly similar economic realities for the Monadnock region and the Coast region.
Fred Kocher will be joined by Cody Morrison, executive director of the Monadnock Economic Development Corporation, and Darren Winum, economic development director for Exeter/Seacoast Economic Development Associates, representing both the Monadnock and Seacoast regions. We discuss similar economic realities in .
Updated: April 14, 2024 7:11am EDT
The economic realities of the Monadnock region and the Coast region are strikingly similar. On the latest edition of NH Business, host Fred Kocher speaks with executive Cody Morrison. Monadnock Economic Development Director. Corp. and he is developed by Darren Winham, Econ. Developed by Exeter/Coastal Environment Director. Stakeholders will discuss why the economic realities of labor, housing, and child care are so similar in the Monadnock and Seacoast regions.
The economic realities of the Monadnock region and the Coast region are strikingly similar.
On the latest edition of NH Business, host Fred Kocher speaks with executive Cody Morrison. Monadnock Economic Development Director. Corp. and he is developed by Darren Winham, Econ. Developed by Exeter/Coastal Environment Director. Stakeholders will discuss why the economic realities of labor, housing, and child care are so similar in the Monadnock and Seacoast regions.
