Governor Wolf Announces Newly Approved Funding for Business Development and Job Creation, Supporting More Than 560 Jobs
January 24, 2017
Harrisburg, PA – Governor Wolf today announced new project approvals through the Commonwealth Financing Authority (CFA) totaling more than $4 million in funding to support business development growth in Pennsylvania that will lead to the creation and retention of more than 560 jobs.
“Working on behalf of the people, one of the greatest pleasures is to see a beneficial program come to fruition and serve the best interest of the commonwealth and the business community,” said Governor Wolf. “Today’s approvals reflect my administration’s commitment to making government work for everyone by providing funding that allows businesses and communities to achieve their advancement and expansion goals and further contribute to the state’s overall well-being.”
Today’s approvals through the CFA mark the first investment made in the newly established Pipeline Investment Program (PIPE) and a new approval for the successfully recapitalized Business in Our Sites program.
Last year, Governor Wolf successfully secured funding through the reallocation of two fiscal years of funding from a previously underutilized program to develop the new the PIPE program. The program offers grants of up to $1 million per project in funding to make Pennsylvania’s natural gas available to its residents, manufacturers, and pad-ready sites, hastening the development of low-cost energy and creating new jobs.
Today, the CFA approved funding for the first project through this program by awarding a $1 million grant to funding Domtar Paper Company LLC in Elk County for the installation of a three-mile pipeline to its paper mill facility in Johnsonburg Borough.
Additionally, the CFA approved funding to support one Business in Our Sites project in Cambria County. A $3,026,352 BOS loan at 2 percent for 20 years was awarded to Green Diamond Services, LLC in Cambria County to assist with the acquisition and redevelopment of the former Bethlehem Steel site located in the City of Johnstown. It is anticipated that this project will result in the creation of 123 new, full-time jobs.
Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf