Governor Wolf announces approvals supporting businesses, expected to create about 500 jobs in Lancaster County
Posted November 15, 2017 10:57 a.m. EST
LANCASTER COUNTY, Pa. — Governor Tom Wolf announced seven new Business in Our Sites (BOS) project approvals through the Commonwealth Financing Authority (CFA), to support redevelopment projects in Pennsylvania projected to create more than 3,300 jobs.
"The Business in Our Sites program is a critical business development tool that allows us to prepare an arsenal of pad-ready sites for future business growth in Pennsylvania," said Governor Wolf. "The projects approved will take sites in need of redevelopment and prepare them for Pennsylvania's businesses of tomorrow, today."
Last year, Governor Wolf recapitalized the BOS program, which infused $75 million from underutilized programs into the fund. The increased funding enables the CFA to support a significantly larger number of projects to assist with business development efforts in Pennsylvania.
The BOS program empowers communities to attract growing and expanding businesses by helping them build an inventory of ready sites. Approved projects can use the funding for any site development activities that are required to make the site shovel-ready. The sites must be previously utilized property or undeveloped property that is planned and zoned for development.
The City of Lancaster was approved for a $2 million grant and a $3 million loan to assist with the development of the City Gate Corporate Center. BOS funds will be used for stormwater, water and sewer installation, environmental remediation, construction of an access road, and, engineering. The total project cost is $35,510,009 and will create approximately 488 jobs.