Joseph E. Cresci is an American businessman who is the founder and chairman of Environmental Power Corporation. In 1972 he was appointed president of Ogden Recreation Inc., where he oversaw the operations of five race tracks, including

Suffolk Downs Suffolk Downs is a former Thoroughbred race track in East Boston, Massachusetts, United States. The track opened in 1935 after being built by Joseph A. Tomasello for a cost of $2 million. It was sold in May 2017 to a developer who plans to crea ...

Scarborough Downs Scarborough Downs Race Track was a horse-racing track located in Scarborough, Maine, United States. It was Maine's largest race track. It was home to The Downs Club restaurant as well as a grandstand for race viewing, and includes 2 track-side loung ...

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Fairmount Park Fairmount Park is the largest municipal park in Philadelphia and the historic name for a group of parks located throughout the city. Fairmount Park consists of two park sections named East Park and West Park, divided by the Schuylkill River, with ...

, and Wheeling Downs.

Early life and career

A native of

Vineland, New Jersey Vineland is a city in Cumberland County, in the U.S. state of New Jersey. As of the 2020 U.S. census, the city had a total population of 60,780. The Census Bureau's Population Estimates Program calculated that the city's population was 61,156 ...

, Cresci graduated from

Princeton University Princeton University is a private university, private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest ins ...

and

Cornell Law School Cornell Law School is the law school of Cornell University, a private Ivy League university in Ithaca, New York. One of the five Ivy League law schools, it offers four law degree programs, JD, LLM, MSLS and JSD, along with several dual-deg ...

. He practiced law in

Philadelphia, Pennsylvania Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Sinc ...

before joining Garden State Racing Association as vice president and general manager in 1969. In 1972 he was appointed president of Ogden Recreation Inc., where he oversaw the operations of five race tracks (

, and Wheeling Downs). In 1976 he became the CEO of G. E. Stimpson Company and Stimpson Systems, distributors of commercial office supplies and printing products.

Environmental Power Corporation

After Stimpson was sold in 1982, Cresci founded Cresci Associates, an alternative energy business, with Donald Livingston. In 1986 the company was reincorporated in Delaware as Environmental Power Corporation. The following year Environmental Power went public with a $7 million

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. EPC's projects have included a hydroelectric facilities in

Dover-Foxcroft, Maine Dover-Foxcroft is the largest town in and the seat of Piscataquis County, Maine, United States. The population was 4,422 at the 2020 census. The town is located near the geographic center of the state. History Dover-Foxcroft was originally tw ...

Quechee, Vermont Quechee is a census-designated place and one of five unincorporated villages in the town of Hartford, Windsor County, Vermont, United States. As of the 2010 census, the population of the CDP was 656. It is the site of Quechee Gorge on the Ottau ...

, and

Hartford, Vermont Hartford is a town in Windsor County, Vermont, United States. It is on the New Hampshire border, at the intersection of Interstates 89 and 91. It is the site of the confluence of the White and Connecticut rivers; the Ottauquechee River also flo ...

, two waste-to-energy facilities in Texas, and a waste-coal power generation facility in Scrubgrass, Pennsylvania. It also held a minority stake in a coal-fired plant in

Sunnyside, Utah Sunnyside is a former city in Carbon County, Utah, United States. The population was 377 at the 2010 census. On January 1, 2014, the city merged with the neighboring city of East Carbon. Geography Sunnyside is located southeast of the center of ...

. In 1991, Livingston took over the offices of president and chief operating officer, but Cresci remained chairman and chief executive officer. In 2003 Kam Tejwani succeeded Cresci as CEO and Livingston as president, with Cresci remaining on as chairman of the board of directors and of the executive management committee.

References

{{DEFAULTSORT:Cresci, Joseph American chief executives of energy companies American horse racing industry executives Cornell Law School alumni Princeton University alumni People from Vineland, New Jersey