RIDC traces its history back more than 60 years, to a time when business and political leaders in the region joined together to create an entity to acquire and develop properties that would support our then-thriving industrial base.
As the region evolved and the loss of heavy industry caused a dramatic economic downturn, tremendous displacement of workers and major losses in the tax base, our focus changed. We believed that the large properties left behind by the steel industry and others could be an asset for the region’s emerging new economy.
Developing projects that transform communities requires combining the community service orientation of a nonprofit entity with the entrepreneurial approach of a private sector business. As a private entity, we are able to function in much the same way as other private developers, but because we are a nonprofit, we are mission driven as well as market driven. We partner with community leaders and institutions to ensure our investment decisions are providing the benefits the community needs and, because of our large portfolio and strong balance sheet, we are able to make development decisions with a longer-term view of success.