In the 2024-25 budget Governor Shapiro secured $500 million for site development, including $400 million for the PA SITES program to make Pennsylvania more competitive on a national scale, attract more businesses, and create good-paying jobs.
Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced 12 new projects totaling more than $50 million were approved through the Commonwealth Financing Authority (CFA). Over $48 million of the funding was awarded today through the Business in Our Sites (BOS) program, which provides financial assistance for the preparation of sites located within Pennsylvania for future development.
Governor Shapiro realizes the importance of getting sites pad-ready in the Commonwealth, and included in the 2024-25 budget, he secured $500 million for site development, including $400 million for the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) program. Governor Shapiro and Secretary Siger were recently in Bethlehem for a ceremonial bill signing of the new bipartisan budget, celebrating a number of initiatives that will help make Pennsylvania a leader in economic development, including the PA Sites funding.
“We know that a lack of available industrial sites is one of the biggest obstacles our Commonwealth faces in trying to attract and retain businesses in Pennsylvania,” said Secretary Siger. “The investments we are announcing today—alongside the transformational funding for site development secured by Governor Shapiro in the 2024-25 budget—will make the Commonwealth more competitive and signal to businesses across the country and the world that Pennsylvania is open for business.”
The following projects were approved:
Business in Our Sites (BOS) – $48,729,524
BOS provides grants and loans empowering communities to attract growing and expanding businesses by helping them build an inventory of ready sites. Funds can be used for all site development activities that are required to make a site shovel-ready. The BOS program is for speculative projects only. Funds cannot be used for projects that are primarily residential or recreational. Sites must be previously utilized property or undeveloped property that is planned and zoned for development. The CFA approved eight BOS projects totaling more than $43.7 million in grants and loans.
- $2,391,666 to the Adams County Industrial Development Authority to assist with the redevelopment of the former Gettysburg Foundry site located in Cumberland Township.
- $10 million to the Borough of Sharpsburg, Allegheny County, to assist with the redevelopment of Allegheny Shores in Sharpsburg Borough.
- $10 million to the RIDC Southwestern Pennsylvania Growth Fund, Allegheny County for the redevelopment of a site at the former Duquesne Steel Works in Duquesne City.
- $6 million to the Regional Industrial Development Corporation of Southwestern PA, Allegheny County, to continue the redevelopment of the old Westinghouse Electronic Corporation’s East Pittsburgh complex in East Pittsburgh Borough.
- $3,582,250 to the Delaware County Redevelopment Authority, to assist with the Hook Road Industrial Redevelopment site located in Darby Township.
- $2,349,715 to the City of Lebanon, Lebanon County, for the redevelopment of the Lebanon Steel Works site located in Lebanon City.
- $5 million to the Greater Hazleton Community Area New Development Organization, Inc., Luzerne County, to assist with the development of the Crossroads East Business Park project located in Hazle Township.
- $942,900 to Greenville-Reynolds Development Corporation, Mercer County, to assist with the redevelopment of the former Damascus Bishop Tube Company site located in Pymatuning Township.
- $6 million to NKAMP LLC, Westmoreland County, to assist with the redevelopment of the New Kensington Advanced Manufacturing Park located in New Kensington.
- $2,462,993 to West York Borough, York County, for the redevelopment of the Bakery Complex located in the West York Borough.
Building PA – $1,417,899
Building PA (BPA) aims to strengthen Pennsylvania’s communities through loan guarantees. Funds can be used as working capital for industrial, commercial, and multi-use project real estate development in small to mid-sized communities.
The following Building PA loan was approved:
- Place Marie Lancaster, LLC, received $1,417,899 for the renovation of a four-story, 22,100-square-foot mixed-use building in Lancaster City, Lancaster County.
Pipeline Investment Program (PIPE) – $834,002
PIPE provides grants to construct the last few miles of natural gas distribution lines to business parks and existing manufacturing and industrial enterprises. The CFA approved two PIPE projects totaling more than $1 million in grants.
The following PIPE project was approved:
- $834,002 to the Schuylkill Economic Development Corporation for the extension of natural gas service to Keystone Potato Products and Espoma facilities located in Foster and Frailey Townships, Schuylkill County.
The CFA was established in 2004 as an independent agency of DCED to administer Pennsylvania’s economic stimulus packages. The CFA holds fiduciary responsibility over the funding of programs and investments in Pennsylvania’s economic growth.
Visit the Commonwealth Financing Authority’s website for more information on the CFA or its programs.
