News & Updates

Gannon Makes Commitment to Erie Downtown Development Corporation with $2.5 Million Investment

Posted on October 16th, 2017 at 3:08 PM
Gannon Makes Commitment to Erie Downtown Development Corporation with $2.5 Million Investment

Gannon University is proud to serve as Erie’s urban University and recognizes its responsibility
to join arm-in-arm with its neighbors to drive transformation of downtown Erie and ensure the vitality of the
Erie region. As a reflection of its Catholic tradition and unwavering dedication to its Mission and civic
responsibility, Gannon University is pleased to make a $2.5 million investment in the Erie Downtown Equity
Fund, LLC and commit to collaboration with key community partners as an inaugural member of the Erie
Downtown Development Corporation (EDDC).

In becoming a member of EDDC, Gannon joins Erie Insurance and the Erie Community Foundation as
anchor members and investors. The growing group of strategic partners will serve the new non-profit
organization focused on fueling economic growth through real estate development in downtown Erie, with
the intent of strengthening the city’s core assets and driving revitalization across the region.

“This collaborative effort of leadership and strengthened sense of dedication to the Erie community brought
together through the Erie Downtown Development Corporation is critical for the vitality and future of our
community,” said University President Keith Taylor, Ph.D. “We have a big job– and an important job –
ahead of us, and the synergies between these anchor institutions and others will serve as a model of
collaboration across the various organizations investing their efforts of service into creating a brighter future
for our Erie community.”

This investment links seamlessly with Gannon University’s work in the Our West Bayfront neighborhoods,
and will be used to create and restore residential housing and transform downtown Erie into a dynamic
space to live, learn and grow through increased programming, dining, retail and entertainment options, and
physical improvements.

As a member of the EDDC Executive Committee and the Erie Downtown Equity Fund, Gannon will assist in
the development of a business plan that will identify initial projects to implement the vision for the economic
development and revitalization of downtown Erie.

Urban universities across the country are anchor institutions, alongside healthcare and other business and
government partners with a clear understanding that their fates are closely tied to the health and well-being
of the surrounding community. That recipe for urban renewal fits very well within the context of our Erie
downtown.

As America rapidly transitions to a knowledge-based economy, universities are increasingly looked to as
drivers of innovation and education, as well as major employers, incubators of business, infrastructure
developers, purchasers of goods and integral partners in crime prevention, greening, health care and
education. Gannon embraces its social responsibility as Erie’s urban university, and embraces its role
alongside its community partners to advance its leadership commitment for the well-being of the Erie
region.

“As we envision the future of our University, we must also envision the future of downtown Erie,” said
Taylor. “It is essential to Gannon’s Mission to ensure access to exceptional, quality education for all
students and to ensure delivery of that education in an environment where students will thrive
academically, personally and professionally. Through this partnership and investment, Gannon University is
deepening its commitment to Erie’s economic, business and environmental health for the benefit and
success of our students and our entire region.”

About Gannon University:
Gannon University is a Catholic, diocesan university with campuses in Erie, Pennsylvania, and Ruskin,
Florida, offering online and traditional associate, bachelor’s, master’s and doctoral programs to more than
4,000 academically talented and diverse students.
Gannon University is dedicated to excellence in teaching, scholarship and service. Inspired by the Catholic
Intellectual Tradition, the University offers a comprehensive, values-centered learning experience that
emphasizes faith, leadership, inclusiveness and social responsibility.