Corporation Receives Research Grant from Ives Bank.

Pictured Left to Right: Ray Kostka, VP Ives Bank, Mayor Pete Bass, Oley Carp, Chairman of The Corporation.

The Corporation for New Milford Economic Development is pleased to announce it has received a $3,000 grant from Ives Bank to support a new research initiative focused on understanding the needs and challenges facing small businesses in New Milford.

Ray Kostka, Vice President of Commercial Banking at Ives Bank and a member of the Corporation’s Board of Directors, presented the grant check to Mayor Pete Bass and Corporation Chairman Oley Carpp.

“The rise of e-commerce has significantly disrupted the traditional retail landscape, creating ongoing pressure for business owners to adapt their pricing strategies, product offerings, and in-store experiences,” said Mr. Carpp. “This initiative will focus on small to mid-sized retail and service businesses, with particular emphasis on ensuring diverse representation, including minority-owned businesses.”

The research will be conducted through targeted interviews and surveys, with the goal of creating a shared knowledge base of insights and strategies. This “collective brain” will help local business owners identify common challenges and share practical approaches for navigating today’s evolving marketplace.

The project is expected to span six months and will culminate in a public presentation of findings, including key data, insights, and recommendations to support broader economic growth.

The Corporation extends its appreciation to Ives Bank for its support and ongoing investment in New Milford’s business community.

For more information or to express interest in participating in the research, please contact the Corporation at c4nmed@gmail.com.