Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
Neshannock Business Park Gets $2.25M State Loan
"HARRISBURG, Pa. -- A $2.25 million loan to fund construction of 127,070-square-foot building at the Neshannock Business Park in New Castle, Pa., was approved yesterday by the Pennsylvania Industrial Development Authority. The loan was one of two announced by Dennis Yablonsky, secretary of the Pa. Department of Community and Economic Development. The other loan, in the amount of $800,000, will assist American Brochure and Catalog Co. in buying and renovating a vacant facility in Bucks County, Pa.The RIDC of Southwestern Pennsylvania is administering the $2.25 million loan earmarked for the Neshannock Business Park. Two companies have committed to leasing a total of 30,652 square feet, according to Yablonsky. The new building will be located in a designated Keystone Opportunity Zone, which means most state taxes will be abated for 11 years.The Pennsylvania Industrial Development Authority provides low-interest loans through local industrial-development corporations for land and building acquisition and construction or renovation. It targets manufacturers, industrial developers, research and development firms, agricultural processors and employers establishing a national or regional headquarters.Visit the Pa. Department of Community and Economic Development at www.inventpa.com"