Governor Wolf Announces New Investments in Business Expansion, Agriculture Projects
September 17, 2019
Harrisburg, PA – Today, Governor Tom Wolf announced the approval of five projects through the Commonwealth Financing Authority (CFA) that will assist with the construction of new, energy efficient buildings in Lancaster and Beaver counties, and will create or expand agriculture operations.
The approved projects, totaling $7.5 million in grants and loans, were funded through Building PA, High Performance Building, and the First Industries Fund (FIF) programs, and are projected to create at least 252 new jobs.
“We know that making targeted, strategic investments in economic development can impact communities in a multitude of ways, from increasing jobs and revenue to revitalizing underused spaces,” said Gov. Wolf. “The projects funded today will benefit Pennsylvania’s businesses, residents, and industries alike for decades to come.”
The approved projects are as follows:
EDC Finance Corporation was approved for a $3,967,207, 25-year Building PA loan at a five percent interest rate for the construction of two buildings in Pod #1 at Rock Lititz. The project will consist of two buildings of 69,977 and 113,110 square feet in Warwick Township, Lancaster County. The proposed buildings will sit on 9.94 acres on the Rock Lititz Campus. Building 1A will maintain a 38,813-square-foot high-bay rehearsal studio and a 31,164-square-foot multi-tenant space for seven businesses and will be attached to the existing studio structure. Building 1B will contain a 113,110-square-foot flex space for Clair Global Corporation. The project is expected to create 145 new jobs.
EDC Finance Corporation was also approved for a $2.284 million, 25-year Building PA loan at a five percent interest rate to construct a 141,625-square-foot building in Pod #5 at Rock Lititz. The proposed building will sit on 7.5 acres on the Rock Lititz Campus and will be the fifth condo developed at the campus. The building will contain a multi-tenant facility that will be 81 percent pre-leased prior to construction. The project is expected to create 75 new jobs.
EDC Finance Corporation was awarded a $400,000, 2 percent, 15-year FIF loan to assist with the acquisition of farmland. The funding will help Jerry and Laurie O’Donnell purchase a 123-acre farm located in Fulton Township, Lancaster County. The farm contains 100 acres of tillable land and 17 acres of pasture, and will be used to grow corn, soybeans, hay, oats and rye. The property includes a four-bedroom farmhouse, a manufactured home, bank barn and two free stall dairy barns which will be leased. The total project cost is $2.1 million.
EDC Finance Corporation was also awarded a $400,000, 2 percent, 15-year FIF loan to assist with the construction of two 32,400-square-foot chicken broiler houses in Providence Township, Lancaster County. Michael and Laura Findley will use this funding to construct the broiler houses, which will hold approximately 37,000 birds and an average of 5.5 flocks annually. The Findley’s have a letter of intent with Tyson Poultry, Inc. for a 10-year contract which will be executed upon the completion of the houses. The total project cost is $1,195,000.
Mycelia Development, LLC was approved for a $448,953 High Performance Building grant to assist with the construction of a 16,670-square-foot cultural life and arts center within the downtown core of Beaver Falls. The three-story building will include a ceramic studio, handmade market, cafe, art gallery, community room, theatre, and event space. The planned energy saving features include an energy efficient control system, LED and solar light fixtures, a high-performance envelope construction, and a HVAC system with an energy recovery ventilator with DX cooling and natural gas heating. Additionally, the building will feature a radiant floor system, a storm water capture, treatment and redistribution system, and a dual plumbing system with low-flow toilets, urinals, and faucets. The project is anticipated to reduce energy consumption by an estimated 1,342 MBtu annually, or 30 percent energy savings over a code compliant building and create 32 new jobs. The total project cost is $4,489,530.
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.