City Highlighted in Wall Street Journal Article 'Erie Hit Rock Bottom'
Erie's comeback effort hit the cover page of the online Wall Street Journal Monday.
The headline reads, "Erie Hit Rock Bottom. The Former Factory Hub Thinks It Has a Way Out.
Two Wall Street Journal writers worked on the story for months.
They looked at how Erie plans to plow $150 million into the "blighted downtown" to rebuild it with a mix of private and public investment.
The articled keyed in on Erie Insurance, the hospitals, Erie Downtown Development Corporation (EDDC) and the Erie Innovation District.
EDDC CEO John Persinger said the attention is already drawing emails from across the country.
"I thought it was a fair assessment of the city's collective efforts to reinvent itself," said Persinger. "Everyone knows we've been on a decline for 60 years, but there's some momentum in the community where everyone understands we've hit rock bottom as the article says, but we still need to keep going forward. There'll still be some challenges that lie ahead, but everyone's moving in the right direction."
"That's what we want," said Persinger. "We want people thinking about Erie as a place to invest. Obviously, we have some great local organizations who are leading the way with the transformational capital, the equity fund, but we need a lot more. The fact that this article will put us on a national spotlight will hopefully keep the momentum going and allow us to attract more outside capital."
You can read the article here.