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The Commonwealth Financing Authority approved $6.9 million for the expansion of the water and sewer system servicing more than 4,500 acres surrounding Pittsburgh International Airport in Allegheny County.
The Findlay Township has partnered with Imperial Land Corporation to reclaim and develop the former strip mine land surrounding the airport, which will allow for the development of three industrial sites.
The Clinton Industrial Park, a 100-acre site, will primarily focus on distribution and logistics of markets. The Route 30 Industrial Park, to be situated on 120-acres, will target a variety of industrial/flex buildings.
The Imperial Land Industrial Park, a 1,260-acre site, will target industrial, warehousing, flex, technology and some commercial use. The development is expected to leverage $500 million in private investment and create 15,865 jobs between the three industrial parks. The Clinton site was previously awarded $7.5 million in Redevelopment Assistance Capital Program (RACP) funds and the Route 30 site was awarded $4 million in RACP funds.
The Commonwealth Financing Authority is a seven-member board, created to administer and fund projects from programs that are part of the Economic Stimulus Package. In addition to PennWorks, the CFA oversees Business in Our Sites, the Tax Increment Financing (TIF) Guarantee, First Industries Fund, New PA Venture Capital Investment, New Pennsylvania Venture Guarantee, Building PA, and the and Second Stage Loan programs.
For more information on economic stimulus programs that could benefit brownfields and greyfields redevelopment, visit the www.newPA.com website or call 1-866-GO-NEWPA (1-866-466-3972).
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