January 13, 2009
By Joshua Resnek/The Lynn Journal
Jim Cowdell stepped out of City Hall politics like a champion at the top of his game two years ago. Since that time, he has served as the executive chairman of the Lynn EDIC (Economic Development and Industrial Corp.) - the city's development arm. He oversees a $3.5 million budget. The agency gives out low interest loans to foster new business or to expand current business.
Question: Have you found the transaction from the council to the EDIC to be difficult?
Answer: Relationships I formed over 20 years in public office aided me in this job. The biggest relationship I have is my 30 plus years friendship with the mayor. If we didn't get along, this office couldn't work.
Question: With the national economy in a recession, and with the state economy apparently following in that direction, what are the prospects as you see them for the coming year?
Answer: As far as loans - more people will come to us than ever before because banks are denying them. As far as new businesses coming into Lynn, it is very challenging in this current economic climate.
Question: So how do you sidestep the bad energy and reality of the current economy? Can you do that?
Answer: Even in this tough time, we've been able to locate new business here by reaching out. Elevator Design, for instance, was located in Chelsea. The company was looking to expand. It couldn't find the space in Chelsea. We invited the company to Lynn. They're doing really well.
Question: How do you market Lynn, and is it a challenge?
Answer: It's a challenge because people living outside of Lynn only tend to associate the city with bad things that happen. I market the city in a positive light. Those of us who live here know what a good place this is.
Question: What's the hottest prospect you are working on right now?
Answer: There are three major focuses - downtown, power lines, the commuter ferry. The biggest challenge is to identify the funding for those projects and then obviously to secure it. We just got $2.5 million for the electric lines. We got $750,000 for Phase 1 of the commuter ferry project and we've applied for $1.3 million more. And in the past three years, we've invested over $1 million with 300 new residents living in lofts and destinations like Zimman's drawing outsiders into the city.
Question: Do you ever go to work and think you're still a councilor?
Answer: No. I shut that door and I never looked back.
Question: You were a boxer in your youth. What do you do for a workout today?
Answer: The mayor got me running about four years ago. I am much slower than the mayor, but I'm definitely much better looking than him.
Question: It's two years from today. Where do you think the economy will be?
Answer: Better than it is today.
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