When the Altoona-Blair County Development Corporation was honored as the 2008 Large Agency of the Year by the Pennsylvania Economic Development Association last month, ABCD Corp. was recognized for nearly a dozen projects that have helped create or retain more than 2,300 jobs in the last year. That includes a micro-grant program that assists companies in R&D efforts, Penn State-Altoona’s expansion into downtown Altoona and a brownfield redevelopment project that led to the DeGol Industrial Center.
But it all boils down to one goal, according to ABCD’s marketing manager Matthew Fox.
“We’re always dealing with brain drain, but we’ve been making great strides with our collaborations with Penn State-Altoona and Ben Franklin Technology Partners,” says Fox. “Keep young people here, keep them growing.”
While young people might be the key to the region’s economic future, ABCD’s DeGol project redeveloped 350 acres, secured $18 million in investment and $9 million in federal funding. It also helped facilitate the ribbon cuttings for Sheetz Bros. Kitchen and Customer Service Companies, Inc., both of which created more than 450 jobs.
Diversity of projects, it seems, has been just as important as focusing on those young folks. But it’s difficult to deny the impact of PSU-Altoona’s downtown work. That work was bolstered by the announcement of a $2.5 million donation from the Sheetz family for an entrepreneurial studies program that will be one of the cornerstones of the school’s downtown facilities. Once the facility is up and running, it will help connect the school with Altoona’s central business district, which is expected to drive further downtown development and continue to halt the region’s brain drain.
“Penn State’s expansion into downtown, it’s a great thing for our vision moving forward,” says Fox.
Source: Matthew Fox, ABCD Corp.
Writer: Joe Petrucci