National Field Representatives Grows in Claremont

Valley News Correspondent
Sunday, June 19, 2016

Claremont — National Field Representatives has begun work on Maple Avenue, where it will construct an addition to its office building that, when complete next year, will bring all 210 of the company’s Claremont employees under one roof.

Last week, a former auto repair shop at 137 Maple Ave., that NFR recently purchased was demolished and the vacant lot will be used for employee parking, NFR’s president and founder, Steve Cossingham, said.

The company also bought the vacant Claremont Savings Bank building at 142 Maple Ave., next to NFR’s office, and Cossingham said it will either be demolished or moved.

CSB closed the branch when it opened another branch on Charlestown Road last year.

Before winter, Cossingham said, the company plans to break ground for a two-story, 20,000- to 25,000-square-foot addition to its current 14,700-square-foot Maple Avenue location.

“Under one location, we will improve efficiency and communication,” Cossingham said.

The company has an office on Old Church Road and opened the Maple Avenue office about 10 years ago.

In late 2013, NFR opened a third office on the third floor of the Wainshal building on Water Street — home to the Common Man Inn and Red River Computer Co. — and hired 60 new employees.

The larger Maple Avenue space will be able to accommodate 300 employees, but Cossingham said the company has no immediate hiring plans.

Cossingham started the business in 1989 in Windsor with his wife, Deborah, and four employees. A year later, they moved to Old Church Road.

NFR works primarily with mortgage companies and other lenders holding mortgages on residential properties that are experiencing some form of delinquency, such as collection, bankruptcy or foreclosure.

Working with subcontractors throughout the country, NFR ensures the properties are inspected, secured, repaired, if necessary, and maintained.

In an interview in late 2013, Cossingham said the company was handling about 175,000 properties nationwide and grabbing a larger share of the market. The company continues to see steady growth.

“Business is good,” Cossingham said last week. He estimates the cost of the new construction at $5.5 million.

In February, the City Council designated a portion of Maple Avenue, including NFR’s properties, as an Economic Revitalization Zone. Businesses in the zone, whose rules and guidelines are defined under state law, can receive tax credits and apply them against the business profits tax, Planning and Development Director Nancy Merrill told the City Council when the zone was approved.

Besides, NFR, Maple Lanes bowling alley, the Hitchin’ Post restaurant and the former Goddard Bakery building, which is vacant, are in the Economic Revitalization Zone.

City officials hope the designation will spur more development in the area.

Upcoming Event

The Green Mountain Economic Development Corp.’s annual meeting and member appreciation event is scheduled for Thursday, beginning at 5:30 p.m., at King Arthur Flour at 135 Route 5 SOuth in Norwich. The event is open to members and the public and will feature guest speakers Joan Goldstein, commissioner of the Vermont Department of Economic Development; Dan Smith, president of Vermont Technical College; and Brenan Riehl, president of GW Plastics. The event includes refreshments and and networking opportunities. Cost is free for Green Mountain Economic Development Corp. members, $25 for non-members. Reserve a spot by Monday by calling 802-295-3710 or by emailing gmedc@gmedc.com.

Items of interest to the local business community are published in the Business & Money section of the Sunday Valley News. Submissions may be sent by email to: biznotes@vnews.com or by mail to: People in Business, c/o Sunday Valley News, P.O. Box 877, White River Junction, Vt. 05001. All items are subject to editing for clarity or space.