The Pottsville Area Development Corporation (PADCO) announced Wednesday a strategic partnership with Alvernia University’s O’Pake Institute for Economic Development and Entrepreneurship.
This alliance aims to provide a wide range of resources to new and existing businesses in central and southern Schuylkill County, including business plan development, technical assistance, and access to specialized loan funding.
PADCO President David Young, who also serves as Executive Director of Schuylkill Community Action, expressed his enthusiasm for the collaboration. “We are excited about the opportunities this partnership with Alvernia University's O'Pake Institute will bring to the community. This collaboration will help local entrepreneurs access the resources they need to succeed, contributing to a stronger, more vibrant regional economy.”
The partnership aligns with PADCO’s mission to promote economic and social vitality. By leveraging the O’Pake Institute’s expertise in innovation and entrepreneurship, the collaboration will offer entrepreneurs essential tools to create sustainable business models and capitalize on market opportunities. Additionally, businesses will gain access to PADCO’s Revolving Loan Fund and Operating Capital Fund, as well as grants for community and economic development projects aimed at job creation and regional growth.
Savas Logothetides, Executive Director of PADCO, highlighted the transformative potential of the alliance. “This partnership with Alvernia University’s O’Pake Institute marks an exciting new chapter for PADCO and Schuylkill County. By combining our resources and expertise, we can significantly expand our footprint and provide the support necessary to foster a thriving business community and drive economic value across the region.”
For the O’Pake Institute, this collaboration represents a major opportunity to deepen its impact in Schuylkill County. The partnership will triple the Institute’s service area, reinforcing its commitment to unlocking the region’s economic potential. By supporting local businesses and fostering job creation, both organizations are united in their vision of a prosperous future for the county.
Rodney S. Ridley, Ph.D., RTTP, Alvernia University’s Vice President of Research, Economic Development, and Strategic Initiatives, and Chief Operating Officer of the O’Pake Institute, emphasized the shared mission. “Alvernia and O’Pake’s mission is to serve those in the communities that we reside, and we are thrilled to be able to support PADCO in strengthening Pottsville and Schuylkill County’s entrepreneurial community by providing our student-powered business services and resources. PADCO is the natural home for critical economic development activity, aspiring and existing entrepreneurs, and community outreach in Pottsville and Schuylkill County, making them integral to this venture.”
