Wolf Administration Announces $16.5 Million in New Investments to Attract Businesses, Create Jobs, and Expand Energy Infrastructure
Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Dennis Davin announced the approval of four projects through the Commonwealth Financing Authority (CFA) that will empower communities and economic development partners to attract expanding businesses by building an inventory of ready sites. The approved Business In Our Sites (BOS) projects, totaling $16.5 million in grants and loans, will increase Pennsylvania’s ability to attract businesses that create family-sustaining jobs.
“Pennsylvania holds a strong competitive advantage, and by redeveloping unused sites for new use, we only further strengthen our position with businesses looking to operate here in the commonwealth,” Sec. Davin said. “This funding will help provide the resources needed to build attractive, pad-ready sites, create an inviting location for businesses, and support the retention and creation of hundreds of jobs for communities across Pennsylvania.”
BOS projects empower communities to attract growing and expanding businesses by helping them build an inventory of ready sites. The projects below were approved as part of today’s CFA board meeting. The approved projects are as follows:
RIDC Southwestern Pennsylvania Growth Fund was approved for a $1.6 million grant and a $2.4 million loan to continue the redevelopment of Mill 19 in the City of Pittsburgh. The project will continue the efforts of redeveloping this long-abandoned mill. The 12.6-acre Mill 19 at the Hazelwood Green site is one of three existing structures that remain standing from when the site was used for steel production. RIDC took ownership of Mill 19 in 2017 and is redeveloping the site in phases.
The first phase contains 94,145-square-feet and is currently under construction. It will house a 60,000-square-foot Carnegie Mellon University research center. The second phase is a 70,000-square-foot, three-story building that will include flex office space as well as ground floor garage, lab and workshop space that conforms to the high¬performance building characteristics of LEED V4 Gold standards. This phase will redevelop the site for high¬tech office space. The site will be made pad ready for the creation of a 100,000-square-foot facility which will be marketed as flex office space. RIDC anticipates the creation of an additional 200 new jobs at this site.
Beaver County Corporation for Economic Development (BCCED) was approved for a $1.77 million grant and a $2.65 million loan to assist with the development of Westgate Business Park located in Big Beaver. BCCED has partnered with Adams Place, LLC to develop 21 acres within the Westgate Business Park into a modern industrial warehouse complex. The overall development is master planned in three phases that, once completed, will consist of 285,000-square-feet of Class A industrial warehouse space. Phase I is currently under construction and includes the construction of a 105,000-square-foot facility on nearly six acres. BOS funds will be used for the development of the subsequent Phase II and Phase Ill portions of the overall Adam’s Place. Phase II and Phase Ill will consist of construction on nearly 16 acres. It is anticipated that the completion of this project will create 155 new jobs.
Fay-Penn Economic Development Council was approved for a $1.23 million grant and a $1.85 million loan to assist in the development of a multi-tenant speculative building In Georges Township. Fay-Penn Economic Development Council purchased 311 acres of farm land located directly off exit 43 of the Pennsylvania Turnpike in the 1970’s to develop the Fayette Business Park. To date, 270 acres within the business park have been developed with 16 businesses that employ more than 1,000 employees. Fay-Penn plans to develop the next 22 acres within the park by constructing a 100,500-square-foot multi-tenant spec building that will be marketed as commercial, industrial, manufacturing and office space. It is anticipated the development of this building create 250 new jobs.
Lawrence County Economic Development Corporation (LCEDC) was approved for a $2 million grant and a $3 million loan for the development of the Stonecrest Business Park located in New Beaver Borough. LCEDC, in cooperation with Stonecrest Business Park, LP (SBP), plans to develop a former golf course into the Stonecrest Business Park. The site, consisting of 213 acres, 110 acres of which is developable, will build upon other developments already happening in Beaver County and around the Pittsburgh International Airport in Allegheny County. SBP plans to develop up to 1.5 million square feet of commercial/industrial space. It is anticipated that the project will create 1,000 new jobs.
Casey Smith, DCED, email@example.com