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Article: NEW ENGLAND CENTER AT UNIVERSITY OF NEW HAMPSHIRE TO CLOSE JUNE 30
- Article from:
- US Fed News Service, Including US State News
- Article date:
- July 22, 2009
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DURHAM, N.H., July 21 -- The University of New Hampshire issued the following news release:
The New England Center (NEC) at the University of New Hampshire will close on June 30, 2010. According to UNH officials, the action is necessary for several reasons: the downturn in the economy has aggravated an already challenging financial situation; there is increased competition from other hotel/conference facilities in the Seacoast; and there are no available funds for necessary capital repairs and upgrades.
UNH spends $2 million annually to subsidize the operation of the NEC, which has had a 50 percent drop in revenue over the last two years. At least $17 million in new capital investment would ...