Devco appears in articles from the Press of Atlantic City often as they are developing much of New Jersey. The company prepares loans and financial products for cities in the state who wish to develop, but they do so with a hands-on approach. This article will show why Devco is unique in their approach, and the savvy city manager will consider DEVCO for a new partnership.
#1: Devco Uses Industry Development Standards
Devco uses industry development standards that are appropriate for their clients. They do not loan money blind to cities with the hope of seeing their cash again. The company sends executives who work exclusively in development, and the executives talk over the process of developing with the city. A plan is agreed upon, and contractors are hired.
#2: Selecting A Proper Location
According to Atty. Chris Paladino, the location of a new development must be chosen with great care. Devco will survey the city for a proper location, and they often focus on areas that are underdeveloped. The whole of America does not rise all at once because development cannot happen concurrently in every community. Devco finds a portion of the city that will welcome new businesses, and they work out a deal to strip the land and start over.
#3: What Is Built?
Multi-use developments are created that include residential properties, commercial developments and retail centers. The area sees new jobs stream in, and they will benefit from tax revenue that is collected. Devco directs building of one project, and businesses will visit with their own ideas for the community. Sparking the fire in the community is the purpose of Devco’s presence.
Every city in New Jersey that requires a new development may approach Devco for assistance. Building anew will offer revived opportunities for everyone who lives around the newest of buildings.