HARRISBURG – Nearly $1 million in funding will be used to redevelop the former Damascus-Bishop Tube Company site in Pymatuning Township, Mercer County, according to Sen. Michele Brooks (R-50).
“Ensuring that Mercer County has available sites ready for development is an important part of attracting businesses into the area,” Brooks said. “This project will rehabilitate an unused property, making it site ready for a potential employer to help boost the area’s economy.”
The combination of state grants and loans will be used to rehabilitate the 17-acre site, including preparation for the construction of a 16,000-square-foot building intended for industrial use. The developer – Greenville-Reynolds Development Corporation – anticipates the site could provide approximately 25 jobs, with the potential to generate up to 100 jobs if the building is expanded by an additional 64,000 square feet.
Funding for the projects is being provided through the Pennsylvania Department of Community and Economic Development (DCED) Business in Our Sites program. The total project will cost a little less than $965,000, with part of the funding provided through a grant of more than $385,000 and the rest through a loan of almost $580,000. The Business in Our Sites loan has a 2% interest rate and a 20-year term.
“I want to thank DCED and the team at Greenville-Reynolds Development Corporation for their collaboration in working to bring this project to fruition,” Brooks said.
The project calls for the installation and connection of water, sewer and other utilities to ensure the site is ready for a potential employer.
CONTACT: Adam Gingrich, 717-787-1322