New Prez For PIDC

Mayor Nutter today announced that Peter Longstreth, president of the Philadelphia Industrial Development Corporation will retire in September.

After a 10-year run, Longstreth will return to working in the private sector and Executive Vice President John Grady will take his place. The PIDC is a private, not-for-profit Pennsylvania corporation established to promote economic development in the city.

Grady, 43, has more than 20 years experience executing public-private development initiatives. He has played a leading role in continuing redevelopment of the Navy Yard.