2019 Report to the Community 2019 Report to the Community
2019 REPORT TO THE COMMUNITY 2019 REPORT TO THE COMMUNITY King of Prussia District: A Catalyst for Economic Development and Job Growth Business improvement districts, such as King of Prussia District, are organizations created to help solve a variety of challenges facing a community. The challenge during the time of our creation was primarily slow growth in Upper Merion Township and stagnant property values. King of Prussia had lost much of its caché as the premier office location, as many other commercial centers in the Philadelphia region accelerated through the first decade of the new century. Creating a business improvement district in a suburban location is rare, but many commercial property owners, as well as the Township, believed that it was the best way to tackle the challenges at hand. In May 2010, King of Prussia District was created and a boundary was selected for participating properties. Our founders developed a specific program plan and a funding formula to provide the necessary revenue. The program plan included goals and objectives in five program areas: Marketing & Communications, Physical Improvements, Transportation, Land Use & Zoning and Tax Policy. Eric C. Davies Since that time, our Board, committees and staff have worked hard to put King Board Chair of Prussia back on the map, accelerate economic development and job growth and increase property values. We believe that the organization’s work has yielded significant positive impacts during our first eight years. This year’s Annual Report to the Community highlights, when possible, the changes that have occurred since our creation. We showcase statistics related to retail, commercial office and industrial development, housing starts, job growth, Eric T.
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