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GOV. SCHWEIKER ANNOUNCES $1 MILLION IN STATE ASSISTANCE FOR HANOVER CROSSINGS BUSINESS PARK, LUZERNE COUNTY
WILKES-BARRE (April 22) - Governor Mark Schweiker today delivered $1 million in capital budget redevelopment assistance to the Greater Wilkes-Barre Chamber of Business and Industry to help construct the Hanover Crossings Business Park in Hanover Township, Luzerne County.
The funding will be used to install infrastructure, including access roads and utilities, to 77 acres on Phase II of the four-phase Hanover Crossings Business Park site. The total cost of the project is $4.4 million.
"The investment that we're making today will result in more jobs for the Greater Wilkes-Barre region in the future," Gov. Schweiker said. "I applaud the Chamber for its efforts in putting former strip mine property back into productive use."
The Greater Wilkes-Barre Chamber of Business and Industry is constructing the business park on a 350-acre former mining site to help address the shortage of industrial sites that are ready for development in the Greater Wilkes-Barre area.
Commenting on the announcement, Stephen M. Barrouk, President/CEO of the Greater Wilkes-Barre Chamber, added, "We want to thank the Governor for this outstanding investment in Hanover Crossings and in the future of Northeastern Pennsylvania. This announcement demonstrates that good economic development is truly a bi-partisan issue Ð in this case, through the efforts of the office of the Governor, working together with State Representative John Yudichak, then a freshman legislator from the 119th district. Today's announcement is a great example of our elected officials making investments in a community that will reap the greatest return for Northeastern Pennsylvania and ultimately, for the Commonwealth as a whole."
Located near Exit 2 of Pennsylvania Route 29 (the South Cross Valley Expressway), the park is readily accessible to major transportation routes and the regional workforce.
The site is part of the approved Luzerne-Lackawanna Keystone Opportunity Zone (KOZ) . Pennsylvania's KOZs virtually eliminate state and local taxes to stimulate job creation and community renewal.
To date, the KOZ program has created more than 10,702 new jobs at 209 sites statewide. KOZs also are responsible for the retention of more than 5,461 jobs.
The KOZ program has been recognized as one of the best statewide economic-development strategies in the nation. Business Facilities magazine Ð a national publication of choice for business executives looking for new site locations Ð awarded the program with its Gold Level/1st Place award in the Statewide Economic Development Strategy category.
Today's 1 million grant was enabled in February 1999, when the General Assembly approved the Ridge-Schweiker Administration's plan to raise the cap on the capital budget's redevelopment assistance fund by $650 million for vital community- and economic -development projects statewide. During the Administration, the number of Pennsylvania counties receiving capital budget redevelopment assistance funds has more than doubled from 22 to 45 counties.
The Redevelopment Assistance Capital Program is a state grant program for the acquisition and construction of economic, cultural or civic improvement projects. The General Assembly must authorize funding for projects before they can be considered by the Governor. Since 1985, more than $1.6 billion in redevelopment assistance funds have helped to leverage more than $4.1 billion in local matching funds. Projects range from museums, zoos, theaters and cultural centers to airports, convention centers and industrial parks.
The Greater Wilkes-Barre Chamber of Business and Industry works to unite business and industry with the vast resources of our region in an effort to foster business growth and investment, create quality jobs and improve the quality of life for residents of Greater Wilkes-Barre.
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