Annapolis Mayor Joshua J. Cohen signed into law Tuesday legislation creating a new economic development corporation designed to revitalize small businesses in the capital city.
Cohen also announced four nominees to serve on the board of the newly created Annapolis Economic Development Corp., which will be run as a public-private entity and be governed by an 11-member board. The board will hire an executive director by the fall to run the day-to-day operations. The corporation launches with $400,000 in seed money from the city council, which was approved as part of the fiscal year 2011 budget.
The nominees, which require city council approval, are: Midgett Parker, an Annapolis attorney who would serve as chair; Chip DiPaula, who works in sales and marketing; Reza Jafari, who works on technology-based solutions to economic development and other issues; and Mike Lofton, the founding executive director of the Anne Arundel Economic Develoment Corp.
"These heavy hitters have a tremendous amount of economic development experience in the city, county, state, national and international circles," Cohen said in a statement. "Their experience and skills will advance our vision of a more vibrant and robust economy that not only provides jobs but also enhances and enriches our quality of life."