The Chester County Economic Development Council (CCEDC) said the county has seen “incredible growth” despite economic uncertainty, inflation, and the lasting effects of the COVID-19 pandemic, during its Annual Stakeholders Breakfast on Friday, Nov. 18.
According to the council, the county hit five milestones over the 2021-2022 fiscal year, including growing opportunities for women-owned and minority-owned businesses, launching an agriculture economic strategy, and helping startup companies.
“Some hear the term ‘economic development’ and picture construction sites and loan closings. It’s really about serving people by preserving and enhancing the quality of life in our communities,” CCEDC President and CEO Gary W. Smith told a crowd of about 150 local business and community leaders. “We train people with the skills they need to support their families, advise small businesses so they can add to the fabric of Chester County, revitalize abandoned lots for better use by neighborhoods, and enable young people to explore quality career options.”
CCEDC approved its Diversity, Equity & Inclusion Strategic Plan, paving the way for a Business Resource Center in Coatesville with free access to business coaching. The council also launched a grant program that provided 51 minority and women-owned businesses with financial support. The council also relaunched an agricultural program, AgConnect, that created an agricultural economic development strategic plan and ag training program for youth career development.
The council said its loan growth surpassed last year’s levels by more than 33 percent and was five times higher than it was just four years ago. The CCEDC also worked with Hankin Group to fund the Brandywine Station LP, which will be a mixed-use project including 400 luxury apartments, 10,000 square feet of retail space, and a new pedestrian bridge to Johnsontown Park, in anticipation of the new Downingtown AMTRAK/SEPTA train station. And the CCEDC said it provided startup support to its I2N (Ideas x Innovation Network) program, helping to create more than 2,000 jobs to date and contributing to some $307 million invested back into the community.