Robert Stephenson Named as President of RIDC; Frank Brooks Robinson, Sr. Steps Down

Apr 16, 2003, 01:00 ET from Regional Industrial Development Corporation

    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