With the national and local economy getting hammered by the recession over the past year, it was an uncomfortable time for developers.

“Without a doubt this has been a very challenging year economically throughout the county,” said Larry Reichard, executive director of Penn-Northwest Development Corp.

Speaking at the organization’s annual breakfast meeting at Penn State Shenango Campus on Friday, Reichard said Mercer County’s lead economic development agency has worked on 15 industrial projects with decisions still pending in the upcoming months.

As part of the meeting, the agency provided its members with financial statements which showed Penn-Northwest employees took a 10 percent salary or wage cut in May as a way to reduce costs. But financial statements also showed the agency has more than $1.8 million available through its revolving loan fund.

During the meeting outgoing Penn-Northwest chairman Bill Perrine was honored for his four years of service as the agency’s leader. Dr. Fred Leeds, chancellor of Penn State Shenango, gave an overview of the campus and its future goals.

Among the initiatives Penn-Northwest was involved in include: Opposition to tolling I-80, creating new and expanded Keystone Opportunity Zones, a workforce training initiative, cooperating with Shenango Valley Chamber of Commerce on commercial and industrial development, and supporting the opposition to the Tri-County Landfill.

Other achievements included the Gannon Small Business Development Center providing nearly 1,200 consulting hours to 123 local clients which helped to generate $1.547 million in funds for projects. Also, the Northwest Industrial Resource Center’s Mercer County office participated in 20 projects which generated more than $8.5 million for area projects.

Elected officers of Penn-Northwest for fiscal year 2009-10:

• Chairman: Kenneth Faulconbridge, Northwest Savings Bank

• Vice chairman: Lew Kachulis, Gilbert’s Insurance and Consulting

• Secretary: Robert Wilson, Roll Forming Corp.

• Treasurer: John “Chip” Mastrian, Strimbu Memorial Foundation

• Assistant secretary/treasurer: Tony Zucco, Penn Power