Governor Wolf Announces New Funding for Agriculture, Business Development Projects
May 15, 2020
Governor Tom Wolf announced the approval of four projects through the Commonwealth Financing Authority that will spur economic development, create jobs, and support Pennsylvania’s agriculture industry.
“As we look toward the future after we emerge from the COVID-19 pandemic, it is critical that we make smart, strategic investments that will help stabilize our economy and support Pennsylvania’s agriculture and business communities,” said Gov. Wolf. “The funding awarded today will lay the groundwork for that future. Our investments today will provide for a more secure tomorrow.”
The approved projects, which were recommended by CFA at Thursday’s board meeting, are as follows:
First Industries Fund
Jacob and Lindsay Light, through the Lebanon Valley Economic Development Corporation, were approved for a $400,000 First Industries loan to construct two 31,500-square-foot broiler houses. The project site is located in Bethel Township, Lebanon County. The total project cost is $1.25 million.
Jeffery and Fawn Bomgardner, through the Lebanon Valley Economic Development Corporation, were approved for a $400,000 First Industries loan to construct two 31,500-square-foot broiler houses. The project site is located in North Annville Township, Lebanon County. The total project cost is $1.25 million.
Reu-Hel Farms, Inc., through Greater Berks Development Fund, was approved for a $400,000 First Industries loan to construct three developer duck houses totaling 61,800 square feet. The project site is located in Centre Township, Berks County. The total project cost is $1.97 million.
Business in Our Sites
SR424, LLC, through the Greater Hazleton Community Area New Development Org, Inc, was approved for a $4 million Business in Our Sites grant and a $6 million Business in Our Sites loan to complete phase one of the Crossroads Point Business Park in Hazle Township, Luzerne County. The site consists of 693 useable acres of mine-scarred land being developed by Merical Commercial Real Estate Services. Phase one will develop the first 197 acres that, once completed, will include six buildings with 1,272,500 square feet of Class A flex/industrial space. The project will create 522 jobs and will include a total private investment of $50.9 million. Business in Our Sites funds will be used for infrastructure and engineering costs. The total project cost is $14,061,064.
More information about the Commonwealth Financing Authority can be found on the Department of Community and Economic Development (DCED) website. To stay up-to-date on all Pennsylvania economic development news, follow DCED on Twitter, Facebook, and LinkedIn, and be sure to sign up for the department’s monthly e-newsletter.