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PIDCO talks downtown plans and elects officers

January 28, 2011

Outgoing President Mark Gidley passes the gavel to incoming PIDCO President Jack Davis

PLYMOUTH – The Plymouth Industrial Development Corporation unveiled new officers and details on their emphasis for the coming year at their annual meeting at Christo's Banquet Center.

Outgoing President Mark Gidley led the meeting that included honoring the outstanding efforts of local architect Brent Martin for PIDCO and introducing Stu Summers from Valparaiso who is helping the group hammer out plans for revitalizing the city's downtown. Summers was at the heart of Valparaiso's downtown re-birth and has been working with PIDCO and Plymouth officials to bring energy to the efforts in the city.

In introducing the project, Summers outlined some instant strong points for Plymouth's downtown that already exist. Summers said that the city of Indianapolis had spent large sums of money to bring a river to that downtown and that “...God gave you (Plymouth) that already.” He also pointed out that every great city in the world – Rome, New York, London – all had downtown parks and that a city didn't have to be large to be great.
Summers pointed out that a city's downtown is a “...reflection of what we are...” and vital to the economic life of any community.

PIDCO introduced the framework of their plan to help the downtown which will include:

-A complete Greenway Trail linking downtown to the neighborhoods by 2014.

-A redesign and improvement of the Farmer's Market.

-A downtown park as a focal point for the city.

-An upgrade of downtown parking lots.

-Creation of a distinctive South Gateway.

-A downtown housing intiative.

Summers said that grant money could be actively pursued for many projects involved in the intiative.

Dan Weidner of Weidner and Company PC gave the group the yearly financial report that included the good news of an increase in cash assets for the year and that earnings per share for the year were $16.90 and that the current book value of PIDCO stock is $445.05.

New officers were elected for the coming year. Jack Davis will serve as President, Ren VanGilder will be Vice President, Gidley will serve as Treasurer and Sarah Smith as Secretary.

In taking the reigns Davis told the shareholders that there were “...a lot of thing that we are doing, but there are a lot of things that we can do.”

He encouraged the group to continue to ask questions, and bring new ideas and younger share holder's into PIDCO.

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