What EDMC got
Regarding the news story " Lacking law, Pa. left out of recovery lawsuit bid " (Aug. 13 and TribLIVE.com): In these challenging economic times, Education Management Corp. (EDMC), which employed more than 7,000 Pennsylvanians and paid more than $8.75 million in Pennsylvania taxes last year, is committed to creating jobs in the state. EDMC never expected -- and never received -- $25 million in state funds for job-creation efforts.
In our 2009 agreement with the Department of Community and Economic Development, EDMC committed to create 600 jobs over three years and invest $27.9 million in private funds to expand operations and construct a new data center in Southwestern Pennsylvania. Since July 1, 2009, EDMC has created 461 new jobs and invested $41 million in private funds. To support these efforts, the state committed $4.7 million -- a $3 million opportunity grant, job-creation tax credits of $1.2 million and a $500,000 job-training grant.
At the time of this agreement, we had not finalized the new data center's location. Because economic development funding must be site-specific, $5 million was set aside in the capital budget for each of five potential sites. Ultimately, we located our new data center in Robinson. We did not receive any funds designated for other locations.
We are confident that the trust extended to us by the state has been wisely invested -- in infrastructure, jobs and education for Pennsylvania.
Anthony J. Guida Jr.
The writer is senior vice president-external affairs for Education Management Corp. (edmc.edu).
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