Philadelphia Industrial Development Corporation announces new president

    Leadership of the Philadelphia Industrial Development Corporation unofficially changed hands today as 10-year President Peter Longstreth announced his impending retirement.

    Executive Vice President John Grady will take over.

    “The citizens of Philadelphia owe Peter a debt of thanks for his outstanding service,” Mayor Michael Nutter said at today’s event. “We wish him continued success in his return to the private sector, and we look forward to working with John Grady in his new role as president.”

    Longstreth, who’s projects span as wide as South Philadelphia’s Navy Yard and the Far Northeast, will retire in September. Before joining the PIDC, he worked in real estate and banking.

    Grady, 43, has served roles with the Cooper’s Ferry Development, New Jersey State Aquarium and Susquehanna Bank Center, among others, before joining PIDC in 1998. The PIDC credits his work in developing a master plan and bringing $150 million in public infrastructure to the Navy Yard.

    The PIDC us a nonprofit founded by the Greater Philadelphia Chamber of Commerce to promote economic development. It has a 30-member board of directors and 55 full-time employees.

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