Unveils 2024-25 Annual Report
The Chester County Economic Development Council (CCEDC) today announced significant milestones from its fiscal year that enabled businesses to expand, create jobs, and generate new revenues, leading to record achievements for the 65-year-old organization. Results focused on the CCEDC’s four key areas: financing solutions, location services, workforce development, and innovation and entrepreneurship.
The record-setting results were shared at the 15th annual Stakeholders Breakfast at the Desmond Hotel in Malvern, Pa., on Thursday, Nov. 20, where more than 200 area business and community leaders from a variety of industries attended.
“We are incredibly proud of the milestones we achieved this year,” said CCEDC’s President and COO, Mike Grigalonis. “Our staff deserves so much credit for being innovative, creative, and resourceful in carrying out our mission. And we owe a huge thank you to the many businesses and individuals who help to make it all possible. I’m talking about board members, community partners, investors, sponsors, elected officials, and countless volunteers.”
These fiscal year achievements are cataloged in the CCEDC’s 2024-25 Annual Report found here https://ccedcpa.com/2024-2025-annual-report/.
Some of the CCEDC’s significant milestones during fiscal year 2025 include:
- New Fiscal Year Records: CCEDC secured $1.19 million from corporate supporters; approved 77 loans; secured 20 new grants totaling $3.4 million to support and current and future workforce programming, earned $446,000 from real estate and redevelopment projects; had more than 14,000 attendees at its events, workshops, and trainings.
- CCEDC’s lending affiliate, Seedcopa, continued to be a leading SBA 504 lender in Pennsylvania, approving 38 such loans totaling $42,576,329. They also closed 6 SBA 7A loans, totaling $2,867,900, and funded 29 SBA 504 loans totaling $16,312,290
- The Pennsylvania Catalyst Loan Fund closed 33 loans, totaling $5.7 million; more than 92% went to socially and economically disadvantaged individuals (SEDI); and more than 66% went to small businesses.
- CCEDC made significant impacts as part of the Redevelopment Assistance Capital Program (RACP) with grant funding received for several projects and improvements at Chester County schools, including a new early learning center for the Chester County Intermediate Unit, an expansion that included adding more beds at Paoli Hospital, and the construction of Nemours Children’s Specialty Care Center in Malvern.
- Continuing its work providing location services, CCEDC worked with Johnson Matthey to provide resources to help with their $25 million expansion project expansion in Wayne. CCEDC also supported key expansion projects at Lavazza, Innovative Aerosystems, and Edlon, Inc.
- CCEDC’s Ideas x Innovation Network (i2n) continued to develop strong programming for entrepreneurs, innovators, and startups. In partnership with the Launchboxes at Penn State Brandywine and Great Valley, they launched the LionCage Pitch competition where entrepreneurs competed for $35,000 in prizes. Overall, they helped secure $366,027 in tax credits, engaged 100 companies, facilitated 196 direct connections for startups, and launched 3 new programs to serve entrepreneurs.
- CCEDC’s Workforce Development achievements included the launch of three new programs to serve veterans, people with barriers to employment, and those in need of training and certifications. One of the programs piloted last year, Project RECONNECT, earned a Silver Excellence Award from the International Economic Development Council (IEDC) in the category of post-secondary education partnership.
- AGConnect continued its work to support local agriculture through the launch of Farmers Market Trail, publication of the Chester County Farm Guide, and partnering with Down to Earth Harvest to provide fresh produce to childcare workers.
CCEDC’s 15th Annual Stakeholders Breakfast included support from platinum sponsors: Bentley Systems, Brumbaugh Wealth Management, and Howell Engineering; gold sponsors: CCRES Educational & Behavioral Health Services, Citadel Credit Union, FischerCunnane, Gorski Engineering, Inc., Lockton, and M&T Bank; silver sponsors: Brennan’s Office Interiors, Inc., Chester County Industrial Development Authority, Chester County Water Authority, ChristianaCare, CTDI, Emergent Energy Solutions LLC, First Resource Bank, Saul Ewing LLP, and SSH Facilities.
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