A decade’s worth of data is revealing the impact of the Chester County Economic Development Council on one of Pennsylvania’s most-thriving economies.

The CCEDC recently showcased the data at its Annual Stakeholders’ Meeting at The Desmond Hotel in Malvern, where it informed stakeholders on its activities not only in 2016-17 but over the last ten years. Highlights of the data spanning 2007 to 2017 include:

• $496 million in construction project earnings in Pennsylvania, enabled by loans and grants facilitated by the CCEDC
• 317 Small Business Association (SBA) loans in 26 counties worth $636,985,130
• 121 Next Generation Farmer Loans totaling $44,615,000
• with the help of $11.8 million in grant funds, more than 1,500 employees per year were trained over the past 10 years through Workforce Development Employee Trainings in healthcare, agriculture, technology, energy, and manufacturing

The data was compiled, analyzed, and presented by Econsult Solutions, which provides economic analysis for local businesses and public policy makers.

“What this data shows us is that CCEDC is nurturing new and existing businesses so that they succeed and stay in Chester County,” said Michael Grigalonis, Chief Operating Officer and Executive Vice President of CCEDC.

“We’re particularly pleased with the number of loans and grants we are able to assist local businesses with, to promote job creation, business retention and enhancement, agricultural economic development, and workforce development.”

At the meeting, three companies also shared their stories of how the CCEDC’s initiatives have impacted their businesses, including West Pharmaceutical Services in Exton, Turn5 in Malvern, and USSC in Exton.

In a conversation with CCEDC’s Mary Frances McGarrity, West Pharmaceuticals’ Annette Favorite shared  information on the company’s history in Chester County, its culture and its focus for the future.

USSC Chief Operating Officer Joe Mirable described how CCEDC assisted with several state and local grant resources to help USSC restructure. As one of the largest suppliers of military blast-absorbing and blast-deflecting seating and restraint systems in the U.S., USSC supplies specialty products for use in the latest generations of armored combat vehicles. It’s also one of the fastest-growing companies in the area, doubling in size since 2015.

The collaboration with CCEDC resulted in USSC receiving a $22,000 RAMP It Up reshoring grant to explore a reshoring process. A U.S. Department of Defense grant reimbursed $25,000 for product diversification expenses. Additionally, the Ideas x Innovation Network (i2n), an initiative of the CCEDC, helped two USSC subsidiaries receive $500,000 in Keystone Innovation Zone (KIZ) tax credits over a five-year period that support emerging technologies. Further support manifested in a $15,170 PA Department of Labor & Industry grant to upskill existing employees.

Turn5 Founder, President, and CEO Steve Voudouris described how the CCEDC helped it attain a grant to help expand and modernize its workplace, add even more jobs, and broaden its connections within Chester County and around the region. Founded by brothers Andrew and Steve Voudouris in their parents’ Newtown Square home when they were just 18 and 20 years old, Turn5 is an e-commerce retailer that has become an industry-leading aftermarket parts provider in the auto industry. They use technology to help people customize, personalize, and build their perfect vehicle.

With CCEDC’s support, Turn5 has grown to three online stores and hit 12 straight years of double-digit growth since its 2004 launch. Turn5 now operates 315,000 square feet of warehouse space in Chester County and Montgomery County, as well as on the West Coast, and they’ll move into their 90,000-square-foot headquarters in Tredyffrin Township in January 2018.

Sponsors of the Annual Stakeholders’ Meeting include:

Bentley Systems, Brandywine Realty Trust, CTDI, BB&T, Bernardon, CCRES, Cerner, Comcast, DNB First, Fischer Cunnane & Associates, The Vanguard Group, Advantage Building & Facility Services, Inc., Brumbaugh Wealth Management, Inc., Chester Water Authority, Fulton Bank, Key Financial Inc., Trion  Group, Inc., and Univest Bank & Trust Company.

Click here for a copy of the CCEDC’s 2016-17 Annual Report.