Chester County Economic Development Council updates stakeholders
UWCHLAN » The Chester County Economic Development Council updated its stakeholders Nov. 5 during a virtual annual meeting. The organization’s stakeholders include hundreds of partners, investors and volunteers spanning every major county industry.
The meeting — the agency’s 10th annual meeting — allowed the council to report results from its four key areas of focus during the 2019-20 fiscal year — financing solutions, location services, workforce development and innovation culture.
“The year will certainly go down as one of our most challenging ever,” said Chester County Economic Development Council President and CEO Gary W. Smith. “We began this fiscal year with a strong economy that was undermined when COVID-19 introduced turmoil to our professional and private lives. Yet the business community has persevered.
“Working with Chester County, CCEDC forged a true public/private partnership to bring our collective resources and talents together to assist our entire community. As a result, CCEDC transformed its organization to administer support to nearly 1,000 companies through no-interest loans, grants and other COVID-19-related assistance.”
Some of the highlights reported by the economic development agency included:
• Assistance to 98 companies with applications to attain $7,361,046 in funding through Pennsylvania’s COVID-19 Working Capital Access (CWCA) program
• Assistance to bank partners and local businesses in processing 582 Paycheck Protection Program Loans totaling $58,272,460
• Administration of $5,076,446 in grants to 248 companies through the Chester County Main Street Preservation grant program.
Mike Grigalonis, chief operating officer and executive vice president of the Chester County Economic Development Council said the agency’s loan team had a “banner year,” achieving volumes not seen in more than 10 years.
Of the assistance to the 98 companies in the COVID-19 Working Capital Access (CWCA) program, Grigalonis said the organization was “aggressive” in promoting the opportunity to businesses. The result, he said, “was the highest of any county in any state.”
Under each area of focus, the Chester County Economic Development Council also reported:
• Financing Solutions: Financed 582 business projects totaling $1,646,162,233
• Location Ser v ices: Collaborated on 17 economic development projects throughout Chester County; sourced PPE through the agency’s network of more than 30 volunteers on its Global Business Advisors board; built strategic relationships with Lithuania, Japan and Singapore to position Chester County as a destination for international companies to enter the U.S. market.
• Workforce Development Services: Involved more than 7,400 participants in workforce development activities, including training 1,213 individuals, assisting 210 dislocated workers and supporting
3,854 youth participants in career exploration activities
• Innovation Culture: Supported 122 local startups, provided 79 businessto-business referrals, invested $844,000 in KIZ funding and leveraged an additional $4.4 million in funding.
In addition to reporting out accomplishments from the fiscal year, the annual meeting is a chance for the Chester County Economic Development Council to thank its stakeholders and partners.
“You are our friends, advisers, investors and most importantly my confidants. I have treasured our relationship with you,” Smith said. “Thank you so much for your dedicated commitment to this development council.
During this year’s meeting, the biggest “thank you” went to the Chester County Economic Development Council’s staff — for rising to the challenge of COVID-19 and taking on new roles to help businesses in need of financing solutions during the peak of the pandemic.
“You were the folks that made the difference. You came and picked up the
phone, you were compassionate. We transitioned you to skillsets you had no familiarity with, to learn how to do loans to make a difference in someone’s life,” Smith said, adding that employees worked seven days a week, around the clock through the pandemic. “You were the envy of every other organization in Pennsylvania. No one ever got near the volume of activity this organization put forth.”
“A lot was asked of our staff this year, there was a lot demanded of them,” Grigalonis added. “They responded in a way I could never have imagined. They responded with enthusiasm and compassion and empathy for the many individuals that came to us in desperate times where businesses were hanging on the edge.”
Another “thank you” from the Chester County Economic Development Council was given to state Sen. Andrew Dinniman (D19th Dist). He was recognized for being an “enthusiastic champion for economic development” since being elected first to Chester County Commissioner in 1991 and then into his state
senate career.
“In his 14 years in the Pennsylvania senate, Andy has been a key player driving economic development efforts, evidenced by his passionate commitment to education and building the workforce for tomorrow,” said Marian Moskowitz, chairwoman of the Chester County Board of Commissioners and chairwoman of the Chester County Economic Development Council.
In recognition of Dinniman’s career, the council is making a donation in his name to Safe Harbor of Chester County — which provides housing, food and access to services for homeless single men and women in Chester County. Dinniman has announced he will retire from at the end of his current term, which ends at the end of this year.
The work of CCEDC is supported by businesses spanning every major industry, from startups to Fortune 500 companies.
A complete copy of the Chester County Economic Development C ouncil’s 2019-20 Annual Report is available at http://annual. ccedcpa.com/