RIDC (Regional Industrial Development Corporation)

Founded	1955 (69 years ago)
Location	210 6th Avenue Pittsburgh, Pennsylvania
Area served	Pittsburgh metropolitan area
Key people	Donald F. Smith, Jr. PhD, President [1] Ronald Coombs, CFO
Employees	22 [2]
Website	ridc.org

The Regional Industrial Development Corporation of Southwestern Pennsylvania—known colloquially as the RIDC—is a privately funded non-profit ^[3] serving the Pittsburgh metropolitan area to focus on a regional approach to economic development primarily through managing and rehabilitating area research and business parks for modern tenants. The RIDC was formed on August 8, 1955, as a non-profit corporation after area business, corporate, government and labor leaders supported a central agency responsible for developing and coordinating efforts to create new employment and economic diversity. ^[4] As of March 2013 it is listed as the third largest commercial property manager in metropolitan Pittsburgh with 7,400,000 gross leasable square feet, ^[5] behind only Oxford Development ^[6] and CBRE Group ^[7] while surpassing Jones Lang LaSalle. ^[8]

Research Parks

RIDC provides development, finance and leasing of new and redeveloped research and business parks using a wide range of real estate development activities. RIDC Research and Business parks are both new development and lab or industrial transfers from such corporations as Sony, Westinghouse and US Steel and include: ^[9]

Non-RIDC Research and Business parks in the Pittsburgh area also include:

Mission

RIDC's mission is to foster and support economic growth with job creation through real estate development to advance the public interest within metropolitan Pittsburgh. ^{[31] [32]} Relying on public, private, and institutional partnerships, RIDC has assisted both emerging and existing growth opportunities across industry sectors. A regional economic development directed towards manufacturing, assembly, distribution, and research and development activities focuses RIDC with entrepreneurs and businesses located both within and outside the region. ^{[33] [34] [35] [36] [37]}

Community support

With a long history of both state and regional economic research ^{[38] [39]} RIDC staffs professionals in financial and property management specialties, planning, engineering, construction, site selection, facility design, construction management with regular study groups that include community leaders, corporate CEOs and Chairman. ^{[37] [40]} The RIDC provides comprehensive and coordinated development or redevelopment of property projects from conceptual design to completion and occupancy as well as business incubators. ^{[41] [42]} Varied industry needs, including machinery and equipment financing assistance are serviced by the RIDC for new, small and growing business enterprises, applied research and development activities and partnership with Western Pennsylvania's academic institutions. ^{[35] [43]} Historically the RIDC has hosted Pittsburgh Hilton conferences with area business leaders, Chambers of Commerce and speeches from the State Secretary of Commerce. ^{[44] [45]} It has partnered with the Appalachian Regional Commission, Carnegie Mellon University the Heinz Endowments and the Richard King Mellon Foundation among others. ^{[36] [46] [47] [48]} It has provided board members for the Allegheny County Planning Commission for such projects as Oxford Centre. ^{[49] [50]}

In the early 1990s the RIDC was criticized for not being more representative with female and minority board members as well as a pattern of using urban funds and assets to market suburban developments. The criticism resulted in Pennsylvania state legislature hearings. ^{[51] [52] [53]}

History

In early 1955 Pittsburgh business, corporate, government and labor leaders supported a central agency responsible for developing and coordinating efforts to create new employment and economic diversity. The RIDC was established August 8, 1955 as a nonprofit corporation and amended its charter on February 16, 1962 to allow it to engage directly in such things as construction, purchasing, selling and financing of developments. In October, 1967 the RIDC took the first steps on being inter-county when it became the lead organization in a 9 county partnership. ^{[36] [54]}

Operational goals of the RIDC are to maintain a dynamic economic development portfolio through preserving, strengthening and expanding the area's employment base through retention and expansion of job opportunities, and by developing and promoting programs that assist in the creation of a more diversified economy. ^[55]

Presidents

• John P. Robin 1955–1967 ^{[56] [57] [58]}
• Hiram Milton 1967–1981 ^[59]
• Frank Brooks Robinson 1981–2003 ^{[37] [60]}
• Robert C. Stephenson 2003–2009 ^[61]
• Dr. Donald F. Smith Jr. 2009–Present ^{[1] [62]}

Foreign Trade Zones

The Pittsburgh area boasts two of the state's seven Foreign Trade Zones ^[63] with the RIDC managing Foreign Trade Zone #33 at the following locations: ^[64]

Foreign Trade Zone #33 Subzones:

• 33 D Mitsubishi Power Electrics ^[67]

Site 1: 510 Keystone Drive, Warrendale
Site 2: 530 Keystone Drive, Warrendale
Site 4: 2905 Maryland Ave, North Versailles
Site 5: 2526 Lovi Road, Economy

• 33 E DNP IMS America Corporation

See also

• Greater Pittsburgh Chamber of Commerce
• Allegheny Regional Asset District
• Economic Club of Pittsburgh

References

External links

• RIDC homepage
• 1981 Pittsburgh Post Gazette feature