Governor Wolf Announces New Approvals Supporting Seven Business in Our Sites Projects Statewide, Projected to Create More Than 3,300 Jobs
November 15, 2017
Harrisburg, PA – Governor Tom Wolf announced seven new Business in Our Sites (BOS) project approvals through the Commonwealth Financing Authority (CFA), to support redevelopment projects in Pennsylvania projected to create more than 3,300 jobs.
“The Business in Our Sites program is a critical business development tool that allows us to prepare an arsenal of pad-ready sites for future business growth in Pennsylvania,” said Governor Wolf. “The projects approved will take sites in need of redevelopment and prepare them for Pennsylvania’s businesses of tomorrow, today.”
Last year, Governor Wolf recapitalized the BOS program, which infused $75 million from underutilized programs into the fund. The increased funding enables the CFA to support a significantly larger number of projects to assist with business development efforts in Pennsylvania.
The BOS program empowers communities to attract growing and expanding businesses by helping them build an inventory of ready sites. Approved projects can use the funding for any site development activities that are required to make the site shovel-ready. The sites must be previously utilized property or undeveloped property that is planned and zoned for development.
At yesterday’s CFA meeting, the following seven projects were approved for funding:
The Pittsburgh Trust for Cultural Resources was approved for a $516,660 grant and a $774,990 loan to assist with the redevelopment of the 8th Street block of Pittsburgh’s Cultural District. BOS funds will be used for demolition, roads and streets repair after demolition, environmental cleanup, and inspections, as a part of the site development efforts. The total project will cost $1,291,650 and will create approximately 1,360 jobs.
The Chester County Economic Development Council was approved for a $4 million grant and a $6 million loan to assist with the redevelopment of the former Penhurst Hospital site located in East Vincent Township. BOS funds will be used for environmental remediation, demolition, roads/streets, excavation/grading, and engineering. The total project cost is $13,191,254 and will create approximately 600 new jobs.
The Chester County Economic Development Council was also approved for a $4 million grant and a $6 million loan to assist with the redevelopment of a brownfield site located in East Whiteland Township. BOS funds will be used for grading and excavation, demolition, infrastructure and in-ground utilities, foundations, and paving. The total project cost is $16,742,000 and will create approximately 60 new jobs.
The City of Lancaster was approved for a $2 million grant and a $3 million loan to assist with the development of the City Gate Corporate Center. BOS funds will be used for stormwater, water and sewer installation, environmental remediation, construction of an access road, and, engineering. The total project cost is $35,510,009 and will create approximately 488 jobs.
The Redevelopment Authority of the County of Montgomery was approved for a $4 million grant and a $8,047,210 loan to assist with the redevelopment of the former Rohm & Hass Spring House facility located in Lower Gwynedd Township. BOS funds will be used for infrastructure costs including roads, fiber optic network, underground utilities, energy efficient hot and chilled water loop, stormwater basins, sanitary and chemical pump stations, electric, and parking areas. The total project cost is $32,047,210 and will create approximately 400 jobs.
HIY Inc. was approved for a $455,560 grant and a $2,243,773 loan to assist with the redevelopment of the Clark Street Building located in the City of Warren. BOS funds will be used for asbestos removal, demolition, water/sewer lines, utilities, building renovations, doors, installation of an elevator, engineering, and administrative costs. The total project cost is $3,049,333 and will create approximately 40 new jobs.
The Redevelopment Authority of the City of New Kensington was approved for a $4 million grant and an $8 million loan to assist with the redevelopment of the Schreiber Industrial Park located in New Kensington. BOS funds will be used for acquisition, legal, engineering, demolition, sidewalks, roads and streets, water and sewer lines, and fiber optics. The total project cost is $12,405,000 and will create approximately 400 new jobs.
For more information about the BOS program, the Commonwealth Financing Authority, or DCED, visit dced.pa.gov.