HARRISBURG, PA — On Tuesday, Secretary Rick Siger of the Department of Community and Economic Development (DCED) announced the approval of 12 new projects totaling more than $50 million through the Commonwealth Financing Authority (CFA). Over $48 million of this funding was awarded through the Business in Our Sites (BOS) program, aimed at preparing sites across Pennsylvania for future development.
“We know that a lack of available industrial sites is one of the biggest obstacles our Commonwealth faces in trying to attract and retain businesses in Pennsylvania,” said Secretary Siger. “The investments we are announcing today—alongside the transformational funding for site development secured by Governor Shapiro in the 2024-25 budget—will make the Commonwealth more competitive and signal to businesses across the country and the world that Pennsylvania is open for business.”
Breakdown of Approved Projects
Business in Our Sites (BOS) – $48,729,524
The BOS program provides grants and loans to help communities attract and expand businesses by developing shovel-ready sites. The program is focused on speculative projects and does not fund primarily residential or recreational projects. The CFA approved eight BOS projects totaling more than $43.7 million in grants and loans:
- Adams County Industrial Development Authority: $2,391,666 for the redevelopment of the former Gettysburg Foundry site in Cumberland Township.
- Borough of Sharpsburg, Allegheny County: $10 million for the redevelopment of Allegheny Shores.
- RIDC Southwestern Pennsylvania Growth Fund, Allegheny County: $10 million for the redevelopment of a site at the former Duquesne Steel Works in Duquesne City.
- Regional Industrial Development Corporation of Southwestern PA, Allegheny County: $6 million for the ongoing redevelopment of the old Westinghouse Electronic Corporation’s East Pittsburgh complex.
- Delaware County Redevelopment Authority: $3,582,250 for the Hook Road Industrial Redevelopment site in Darby Township.
- City of Lebanon, Lebanon County: $2,349,715 for the redevelopment of the Lebanon Steel Works site in Lebanon City.
- Greater Hazleton Community Area New Development Organization, Inc., Luzerne County: $5 million for the development of the Crossroads East Business Park project in Hazle Township.
- Greenville-Reynolds Development Corporation, Mercer County: $942,900 for the redevelopment of the former Damascus Bishop Tube Company site in Pymatuning Township.
- NKAMP LLC, Westmoreland County: $6 million for the redevelopment of the New Kensington Advanced Manufacturing Park in New Kensington.
- West York Borough, York County: $2,462,993 for the redevelopment of the Bakery Complex in West York Borough.
Building PA – $1,417,899
The Building PA (BPA) program aims to strengthen communities through loan guarantees for real estate development in small to mid-sized communities. One loan was approved:
- Place Marie Lancaster, LLC: $1,417,899 for the renovation of a four-story, 22,100-square-foot mixed-use building in Lancaster City, Lancaster County.
Pipeline Investment Program (PIPE) – $834,002
The PIPE program provides grants for constructing the last miles of natural gas distribution lines to business parks and industrial enterprises. Two projects were approved:
- Schuylkill Economic Development Corporation: $834,002 for extending natural gas service to Keystone Potato Products and Espoma facilities in Foster and Frailey Townships, Schuylkill County.
Expected Benefits
These investments aim to address the shortage of industrial sites, which has been a significant barrier to attracting and retaining businesses in Pennsylvania. By making more sites ready for development, the state hopes to draw new businesses and create job opportunities.
Secretary Siger highlighted the importance of these investments in making Pennsylvania more competitive on a national and global scale. The approved projects range from industrial redevelopments to mixed-use building renovations, all intended to boost economic activity and community development across the state.
With this funding, Pennsylvania takes a significant step towards promoting growth and development, ensuring that the Commonwealth remains an attractive destination for businesses and investors alike.
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