PITTSBURGH, April 16 /PRNewswire/ -- The Board of Directors of the
Regional Industrial Development Corporation of Southwestern Pennsylvania
(RIDC), acting on the recommendations of their Succession Committee, has named
Robert C. Stephenson, president of the Strategic Investment Fund for the past
seven years, as the new president of RIDC. He succeeds Frank Brooks Robinson,
Sr., and becomes only the fourth president of the non-profit economic
development agency in its more than 50-year history.
"Bob's more than 35 years of experience in a variety of economic
development endeavors, his knowledge of our region and its needs and
exceptional success in leading the Strategic Investment Fund, makes him the
ideal candidate for this position," said Stephen Hansen, chairman of RIDC's
Board of Directors and president and chief executive officer of Dollar Bank.
"Bob has big shoes to fill. Brooks Robinson had led RIDC for the past 22
years and the corporation has had some remarkable achievements under his
"Brooks Robinson is a tough act to follow," noted Stephenson. "Under
Brooks' guidance RIDC has become one of the nation's preeminent economic
development agencies. I look forward to the challenges and opportunities
ahead as we strive to continue to grow and expand our economic base,
preserving both existing jobs and creating new employment opportunities."
"I have worked with Bob Stephenson for many years," said Robinson, "and
can think of no more qualified individual to lead RIDC in the years ahead."
Robinson will continue to serve on RIDC's board of directors and be available
for advice and counsel during the leadership transition period.
Stephenson spent most of his career in the private real estate industry
and many of those years with the DeBartolo Corporation. He managed
commercial, retail, and industrial real estate properties and portfolios;
bought, sold and leased office buildings, shopping centers and warehouses;
handled the development, redevelopment and renovation of commercial
properties; financed various types of real estate projects and created large-
and small-scale development projects across western Pennsylvania, as well as
in other cities including Miami, Nashville, New Orleans, Seattle, Boston and
Cleveland. He has also handled consulting assignments in cities across the
A long-time resident of Upper St. Clair Township, he is a member of the
National, State and Local Real Estate Boards. In 1981, he was recognized as
Realtor of the Year by the Realtors Association of Metropolitan Pittsburgh,
and in 1996 received a Lifetime Achievement Award from the National
Association of Office and Industrial Properties' (NAOIP) Western Pennsylvania
Chapter. He is a member and past president of the Society of Industrial
Office Realtors, Western Pennsylvania chapter, Core Net Global (formerly
National Association of Corporate and Real Estate Executives) Pittsburgh
chapter, Mortgage Bankers Association of Pittsburgh, and NAIOP's Western
Pennsylvania Chapter, as well as a member of the Institute of Real Estate
Management and Urban Land Institute. Stephenson also currently serves on the
real estate committee and/or advisory boards of several local civic agencies.
In 1996, Stephenson became president of the privately funded Strategic
Investment Fund (SIF). The Strategic Investment Fund is a $70 million fund
providing financial assistance for a range of economic development projects in
Pittsburgh and the ten counties of southwestern Pennsylvania. A native of
Meadville, PA, he is a graduate of Allegheny College.
Robinson has served as president of RIDC since 1981. He first joined RIDC
in 1963, after starting his professional career as an architect with Deeter
Richey Sippel in Pittsburgh. He left RIDC to join the administration of
former Governor Dick Thornburgh in Harrisburg in 1979 and served as Deputy
Secretary of the State Department of Commerce and then Executive Director of
the Governor's Economic Development Cabinet Committee before returning to
become president of RIDC.
A graduate of Yale University and Carnegie Mellon University, Robinson
resides in the city of Pittsburgh's East End. He serves on the boards of
directors of The Carnegie Museum of Pittsburgh, Phipps Conservatory and
Botanical Gardens, Dollar Bank, Catalytic Connection, Regional Development
Funding Corporation, Carnegie Hero Fund and American Respiratory Alliance and
The Advisory Board of the Pittsburgh Symphony. He is a former chairman of the
Public Auditorium Authority, now the Sports & Exhibition Authority, as well as
The Carnegie Museum of Pittsburgh.
Under Robinson's leadership, RIDC has developed and expanded urban and
suburban office and industrial parks across southwestern Pennsylvania. RIDC is
presently serving as the general partner in ALMONO, Inc., a limited
partnership that acquired the former LTV Hazelwood Works last year and expects
to seek Requests for Qualifications from developers for the site in the next
few months. RIDC also is involved in a major redevelopment project for the
former Heppenstall plant in the city of Pittsburgh's Lawrenceville area.
RIDC owns and operates RIDC Park West in Findlay Township, RIDC O'Hara in
O'Hara Township, and RIDC Thorn Hill in Marshall and Cranberry Townships.
Urban business and industrial parks under RIDC's direction include RIDC
Riverplace and its Industrial Center of McKeesport and City Center of
Duquesne, as well as Keystone Commons and as the property manager of the
Pittsburgh Technology Center. RIDC has provided financial assistance for
projects including the Software Engineering Institute, 2000 Technology Center,
Union Switch & Signal, Penn Garrison Apartments, Conair, and Atlantic Baking
Company. RIDC is active in the development of the Meadow Ridge Business Park
in Greene County, and Neshannock Business Park in Lawrence County, and has
funded multi-occupancy building projects in Armstrong and Butler Counties.
RIDC also operates a Foreign Trade Zone that includes Greater Pittsburgh
Airport and the Sony plant in Mt. Pleasant.
Recognized as one of Pennsylvania's largest and most successful not-for-
profit economic development agencies, RIDC also acts as loan sponsor on behalf
of business enterprises throughout the region with a variety of federal, state
and local agencies.
SOURCE Regional Industrial Development Corporation