Pennsylvania: $48 Million to Attract Businesses

Posted on July 19, 2022Comments Off on Pennsylvania: $48 Million to Attract Businesses

Governor Wolf Announces More Than $48 Million in New Investments to Attract Businesses and Create Jobs Across the Commonwealth

Governor Tom Wolf announced the approval of nine 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 $48,710,441 in grants and loans, will increase Pennsylvania’s ability to attract businesses that create family-sustaining jobs.

“Pennsylvania’s strong competitive advantage is reinforced by the funding approved today,” said Gov. Wolf.  “Between our prime location, our skilled workforce, and our excellent infrastructure, the commonwealth has a lot to offer current and potential businesses.  This BOS funding is a great tool that provides the resources needed to build pad-ready sites to increase Pennsylvania’s ability to attract and retain businesses.”

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:

Adams County

Adams County Industrial Development Corporation was approved for a $2,000,000 grant and a $3,000,000 loan for the development of the Berlin Junction Manufacturing Center located in Oxford Township.

Allegheny County

Allegheny County Airport Authority was approved for a $1,200,000 grant and a $1,800,000 loan to help fund Phase III of the development of the Pittsburgh Airport Innovation Campus (PAIC), formerly the Pittsburgh International Airport World Trade Center, located in Findlay Township.

Regional Industrial Development Corporation Southwestern Pennsylvania Growth Fund was approved for a $3,045,896 grant and a $4,568,845 loan to help fund the redevelopment of the Carrie Furnace located in Rankin Borough.

The Urban Redevelopment Authority of Pittsburgh (URA) was approved for a $1,400,000 grant and a $2,100,000 loan to assist in the expansion of the Fairywood Industrial Park located in the City of Pittsburgh.

Berks County

Berks County Industrial Development Authority was approved for a $2,802,411 grant and a $4,203,617 loan to help fund infrastructure development within Berks Park 183 in Bern Township.

Chester County

The City of Coatesville was approved for a $3,646,266 grant and a $5,469,401 loan to assist in the development of the National Sports & Events Center located in the City of Coatesville.

Fayette County

The County of Fayette was approved for a $220,000 grant and a $550,000 loan to assist with the development of the North Union Commercial Park in North Union Township.

Fay-Penn Economic Development Council was approved for a $1,713,966 grant and a $2,609,989 loan to assist in the development of a multi-tenant speculative building in Dunbar Township.

Lancaster County

Economic Development Company Finance Corporation was approved for a $3,352,020 grant and a $5,028,030 loan to assist with the development of the McGinness Innovation Park located in Columbia Borough.

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