Bar Harbor Bank & Trust Supports Economic Development Efforts in Wilton, New Hampshire
Nashua, New Hampshire (October 11, 2018) – At left, Jack Frost, VP Director of Community Giving at Bar Harbor Bank & Trust presents a $20,000 contribution to Jay Minkarah, Executive Director of the Nashua Regional Planning Commission (NRPC). This pledge was made by Bar Harbor Bank & Trust through the New Hampshire Community Development Finance Authority’s L5 Capacity tax credit program. It was awarded it to the NRPC to help build economic development planning programs in response to member community needs in the town of Wilton, New Hampshire.
“Bar Harbor Bank & Trust is pleased to invest in the long term economic development of the Wilton area. Fostering community development in the Nashua region is an essential strategy in making it a great place to live, work, learn and play,” said Jack Frost, VP Director of Community Giving at Bar Harbor Bank & Trust. Four pilot projects in Wilton were funded by this gift from Bar Harbor Bank & Trust: Extending the Stoney Brook Riverwalk in Downtown, Revenue Viability, Potential Tax Incentives, and Creating Community and Fostering Innovation.
Phase I of the Riverwalk development along the Souhegan River was completed last year. Access to the river is a major tool for Wilton’s economic development. These funds will help pay for the extension of the Riverwalk, including a pedestrian bridge. A study will be conducted using these funds to determine the best use of land in Wilton; determining the right mix of retail shopping, recreation, cultural and entertainment attractions, housing and jobs to sustain the town’s economic viability. Various state and federal tax incentive programs will be explored with the use of these funds to assess the best match for promoting individual and/or business investment in new or expanded businesses in the area. Lastly, these funds will aid in identifying the potential benefit of and implementation strategies for a collaborative workspace in Wilton, serving as a business incubator or accelerator.
Nashua Regional Planning Commission provides leadership, facilitation and coordination for member communities in implementing the regional vision. NRPC serves as a resource to support and enhance local planning, provides a forum for communities to share information, and coordinate land use, environmental and transportation planning at the regional level, and provides a clear voice for the region at the State and Federal levels. NRPC provides its member communities with comprehensive planning services addressing environmental, land use, transportation, and regional planning issues as well as offering mapping and data services that utilize the latest technologies. To learn more, go to: http://www.nashuarpc.org/
Bar Harbor Bankshares (NYSE American: BHB) is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Operating 49 branch locations across Maine, New Hampshire and Vermont, Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine and has more than $3.5 billion in assets. As a leading Northern New England community bank, Bar Harbor Bank & Trust offers a full range of personal and business banking services, as well as wealth management services through its subsidiaries Bar Harbor Trust Services and Charter Trust Company. For more information about Bar Harbor Bank & Trust, visit www.BarHarbor.bank or call 1-888-853-7100. Member FDIC.