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Clearfield Today
By the People, for the People
Federal Reserve President Visits Clearfield Development Group
Discussions focus on economic opportunities and challenges in rural communities
Apr. 6, 2026 at 5:20am
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Philadelphia Federal Reserve President and CEO Anna Paulson and Executive Vice President William Spaniel recently traveled to Clearfield, Pennsylvania to meet with leaders from Clearly Ahead Development, a private non-profit organization focused on economic growth and community development in Clearfield County. The visit provided an opportunity to discuss key priorities like brownfield redevelopment, Community Reinvestment Act (CRA) credits, affordable housing, and the impact of interest rates and monetary policy on local investment projects.
Why it matters
The Federal Reserve's engagement with local economic development groups like Clearly Ahead highlights its commitment to understanding and supporting growth in rural communities, which often face unique challenges compared to urban areas. Clearfield County's success in leveraging public-private partnerships and redeveloping brownfield sites provides a model for other rural regions seeking to attract new investment and create jobs.
The details
During the visit, Clearly Ahead representatives shared updates on ongoing community projects and partnerships designed to strengthen the county's economy, attract new investment, and expand opportunities for residents and businesses. Federal Reserve officials also toured the River's Landing building and the Clearfield Riverwalk to gain firsthand insights into recent revitalization efforts and the creation of community assets that enhance quality of life in the region.
- The visit took place on April 6, 2026.
The players
Anna Paulson
President and CEO of the Philadelphia Federal Reserve.
William Spaniel
Executive Vice President of the Philadelphia Federal Reserve.
Rob Swales
CEO of Clearly Ahead Development.
Paul McCloskey
VP of Energy and Business Development at Clearly Ahead Development.
Clearly Ahead Development
A private, non-profit, membership organization serving communities to create growth and opportunities in Clearfield County, Pennsylvania.
What they’re saying
“Clearly Ahead Development has facilitated the redevelopment of 32 Brownfield projects in Clearfield County that have leveraged over $388 million in private investment, the creation of over 600 new jobs, and the retention of over 2,600 full time jobs since inception in 1999.”
— Rob Swales, CEO, Clearly Ahead Development
What’s next
The Federal Reserve officials plan to use the insights gained from this visit to inform their understanding of economic development challenges and opportunities in rural communities, which can help shape future policies and programs to support growth in these areas.
The takeaway
This visit demonstrates the Federal Reserve's commitment to engaging with local economic development organizations like Clearly Ahead to better understand the unique needs and challenges facing rural communities. By fostering these partnerships, the Federal Reserve can play a valuable role in supporting strategic initiatives that drive investment, job creation, and improved quality of life in regions like Clearfield County.
