The Development Finance Authority of Summit County (DFA) announced today the retirement of Chris Burnham as President, effective December 31, 2024, and the appointment of Rachel Bridenstine as President, effective January 1, 2025. Bridenstine, currently Vice President of the organization, has been with DFA since 2015, held numerous executive level positions and has worked together with Chris in the growth and success of the organization.
In a statement Juile Wesel, DFA Board Chair said “Chris Burnham was the first person DFA hired in 2000. Under his leadership, the organization has developed into one of the most respected economic development finance agencies in the State and country. Under Chris’ leadership, DFA has helped finance some of the most important community and economic development projects in our region. In addition, Chris oversaw the creation of two private non-profits focused on access to capital for communities, nonprofits, and small businesses within Northeast Ohio. Through these entities, DFA attracts additional sources of capital and leverages its resources to expand services to our broad and diverse community. The impact of DFA through all its various financing programs exceeds $882 million across 341 projects. Chris has been a champion for our community and region in so many ways, and we are so grateful for his outstanding leadership”.
Wesel also acknowledged the importance of having a thoughtful leadership succession plan by stating that “managing this organization is a complex undertaking. In recent years, the organization experienced significant growth in programming and impact that necessitated a large increase in staff. Early on, Chris identified Rachel’s leadership qualities and with Board support provided her the opportunity to lead the Development Fund of the Western Reserve (DFWR) and Western Reserve Community Fund (WRCF) as Executive Director and manage the entire staff, with Rachel excelling in every way. We’re proud of all of Chris’s accomplishments with the organization and wish him well. We have the utmost confidence in Rachel leading the organization forward. Rachel, along with the superb professional team at DFA will continue to build on our strengths and generate more and greater community impacts throughout Akron and Ohio.”
Summit County Executive Ilene Shapiro voiced similar appreciation and confidence by stating “Over the last two decades and under Chris’s leadership, the DFA partnered with Summit County in impactful ways that significantly benefited our community. I know that Rachel will not only continue this good governance and partnership, but together, we will be able it to take it to new heights and further serve the residents and businesses of Summit County.”
In summation, Bridenstine stated, “Without a strong foundation, nothing can thrive and grow, and I know Chris built a great one at DFA. I am deeply honored to have the opportunity with our staff and boards to carry on the vision of our organizations in partnership with strong community partners. When we put our time and investment in all levels of development – from a local barbershop to a large corporation like Goodyear – tangible impacts result, and that is what this work is all about. I am excited to see what the future holds!”