UCEDC, a leading nonprofit dedicated to small business development, has announced a historic leadership transition as it prepares to celebrate its 50th anniversary in 2027.
President Adam Farrah will retire on Dec. 31, after an extraordinary 40-year tenure with the organization. Executive Vice President Erich Peter, a nearly 20-year veteran of UCEDC and former small business owner, will step into the role of President effective Jan. 1, 2027.
Farrah joined UCEDC in 1987 when the organization operated with just a three-person staff and served businesses exclusively within Union County. Over the past four decades, he guided its expansion into a regional powerhouse. Today, UCEDC’s lending, training, and government contracting initiatives serve entrepreneurs throughout New Jersey, New York City, Westchester County, and southeastern Pennsylvania.
Key milestones during Farrah’s leadership include:
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Positioning UCEDC as the first organization in New Jersey to deliver emergency lending assistance during the COVID-19 pandemic.
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Earning a ranking among the top five Small Business Administration (SBA) microlenders nationwide.
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Launching the popular Virtual Incubator Program to expand accessible entrepreneurial training.
“For any organization to succeed, you have to have a strong team and people who are committed to the mission,” Farrah reflected. “I’m incredibly proud of the team we have built and of where UCEDC is today.“
Incoming President Erich Peter brings a unique perspective to the position. His relationship with UCEDC initially began as a client while he owned a local printing business, following a successful career in finance and management. He joined the nonprofit’s staff in 2008 as Director of Training and was named Executive Vice President in 2019.
Board of Trustees Chairman Tomas Porturas expressed strong confidence in the future under Peter’s direction. “Adam’s leadership has helped shape UCEDC into the organization it is today,” Porturas said. “As we look ahead, we have tremendous confidence in Erich Peter. His experience, knowledge of the organization, and understanding of the small business owners we serve make him the right person to lead UCEDC into its next chapter.”
As UCEDC enters its milestone anniversary year, the leadership transition marks both the end of an era and a renewed commitment to its founding mission. The nonprofit plans to honor Farrah’s legacy and celebrate its rich 50-year history in the coming months while laying the groundwork to support the next generation of small business owners.
“UCEDC has grown tremendously over the years, but what has remained constant is our commitment to the small businesses we serve,” Peter said. “I’m honored to have the opportunity to lead an organization that I benefited from as a small business owner, and I’m excited about what we can accomplish together.”
