Major economic development projects in Beaver and Lawrence counties were awarded $9.5 million in state funding by the Commonwealth Financing Authority (CFA) today (July 14), according to Senator Elder Vogel.
The Beaver County Corporation for Economic Development was awarded a total of $4,422,016 in Business in Our Sites (BOS) funding ($1,768,805 grant and $2,653,211 loan) to assist in the development of Westgate Business Park on 223 acres near Route 18 and the Turnpike in Big Beaver.
The BOS funds will be used for excavation/grading, construction of roads, infrastructure and utility development, legal costs, and engineering. The $11.7 million project includes three phases, with the planned development of 285,000 square-feet of industrial warehouse space on 21 acres and the anticipated creation of 155 jobs.
“This park is another prime example of the benefits our community is beginning to realize from the development of the Shell cracker plant,” said Senator Vogel. “We are seeing more and more economic development initiatives coming into play as the cracker plan continues to build out. The state funding from the CFA will certainly help move the Westgate Business Park project forward and this warehouse space will certainly be a valuable commodity as our region grows.”
The Lawrence County Economic Development Corporation secured a total of $5 million in BOS funding ($2 million grant and $3 million loan) to assist in the redevelopment of a former golf course in New Beaver Borough as the Stonecrest Business Park.
The BOS funds will be used for site excavation, grading, road construction, engineering, and utility and infrastructure development. The $7.4 million project includes plans to develop 1.5 million square-feet of commercial/industrial space, with the anticipated creation of 1,000 jobs.
“This project complements the ongoing development boom we are seeing in the region as a result of the development of the Shell cracker plant,” said Senator Vogel. “The Stonecrest Business Park will be within 30 minutes of the cracker plant and accessible from the Turnpike and Interstate 79, which provides a connector to the Pittsburgh International Airport. That makes it an extremely attractive location for business development, which in turn will bring even more new jobs to our region.”
The CFA also awarded a $102,456 High Performance Building Program grant to New Castle Real Estate, LLC, to renovate a four-building former nursing school complex in New Castle into the New Castle Wellness Center — a long-term senior housing facility with ancillary services including up to 400 beds. The $2.4 million project includes asbestos remediation and selective demolition, window replacements, and installation of a new roof, upgraded plumbing and energy-efficient LED lighting.
“Quality senior citizen housing is already at a premium and the need is expected to increase well into the foreseeable future,” Senator Vogel said. “This project addresses that need and provides a new use for those former school buildings. It is a great investment of state funding.”
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