New Business Center Planned for Pennsylvania's Moshannon Valley

RUSH TOWNSHIP, Pa., Nov. 7 /PRNewswire/ -- Governor Edward G. Rendell today announced a $600,000 investment for the construction of the Moshannon Valley Regional Business Center, which will create at least 100 new jobs in Centre County over the next five years.

The new business center will be an integral part of the Moshannon Valley Regional Business Park that has already created 100 new jobs since 2001.

"Providing this money is an investment in the business park's expansion," Governor Rendell said, "and it's a significant piece in our push to strengthen Pennsylvania's economy. It shows we are using our resources and our unique economic development tools to help our companies expand and prepare for future growth."

"Over the last 12 months, Pennsylvania has created more jobs than at any time since 2000. That's what we're delivering with our investment in the Moshannon Valley and everywhere in this state," Governor Rendell added. "Our economy is stronger and Pennsylvania has more people working now than ever before."

The $600,000 Infrastructure Development Program grant will be used by the Moshannon Valley Economic Development Partnership for planning, design work and construction of a 26,000-to-30,000-square-foot multi-tenant building to be known as the Moshannon Valley Regional Business Center.

The $2.1 million facility will be divided to include about 4,000 square feet of office space and 22,000 to 26,000 square feet of light manufacturing space. Construction will begin Nov. 21. The project will be completed by July 2006.

The Infrastructure Development Program (IDP) provides grants and low- interest loans up to $1.25 million for public and private infrastructure improvements necessary to complement eligible capital investment by private companies and developers. Funds for eligible projects are used for the construction or rehabilitation of roads, sidewalks, parking facilities, bridges, rails, ports, and airports. Funds can also be used for the clearing and preparation of land, environmental remediation, and water and sewer system upgrades.

For more information on IDP or other Department of Community and Economic Development programs, visit http://www.newPA.com, or call 1-866-GO-NEWPA (1-866-466-3972).

The Rendell Administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us.

CONTACT: Kate Philips 717-783-1116 Leslie Suhr (DCED) 717-783-1132

SOURCE Pennsylvania Office of the Governor

CONTACT: Kate Philips, Pennsylvania Office of the Governor, +1-717-783-1116; or Leslie Suhr, DCED, +1-717-783-1132

<<PR Newswire -- 11/08/05>>

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