The Commonwealth Financing Authority approved grants to two projects that will promote the redevelopment of business sites in Centre and Mercer counties.

The Centre County Industrial Development Corporation will receive a $175,000 planning grant for predevelopment plans for the Rockview Business Park (formerly the Rockview State Correctional Institution), located in Benner Township.

The funds will be used for environmental and feasibility studies, as well as engineering and wetland investigation. The 250-acre site, located in close proximity to this redevelopment project could result in $385 million in private investment and create approximately 11,050 new jobs.

The Valley Shenango Economic Development Corporation will receive a $175,000 planning grant to assist with the redevelopment of the former Westinghouse facility, located in the city of Sharon.

The funds will be used for architectural evaluation, HVAC, and floor plans for manufacturing and office space. Winner Global Defense, Inc. has committed to leasing incubator space in the 1-million square foot facility for research and continues to negotiate with companies that have expressed an interest in conducting research and development activities at the Winner Industrial Research and Technology Center. The completion of the research park will generate a total of 150 new jobs.

For more information, visit the Business in Our Sites webpage.

10/7/2005