HARRISBURG, Pa. (WHTM) — On Friday, Governor Josh Shapiro’s administration announced an investment of $58 million for 157 new projects across the Keystone State.
According to the Governor’s Office, the Department of Community and Economic Development’s (DCED) acting Secretary Rick Siger announced the approvals for the 157 new projects, which were provided through the Commonwealth Financing Authority (CFA).
The grant and loan funding of $58,662,492 is being provided for the purpose of developing real estate, strengthening the agriculture industry, and enhancing infrastructure across Pennsylvania.
The over $58 million in funding will be utilized for:
- Building PA (BPA) – $2,308,963
- BPA provides mezzanine funding for capital developers for real estate assets in small or mid sized communities in PA. These funds can be utilized for industrial, commercial, and mutli-use projects. This funding was received by Rock Lititz to construct a 133,600 square foot multi-tenant building in Lancaster County.
- First Industries Fund (FIF) – $210,000
- FIF is designed to strengthen Pennsylvania’s agricultural and tourism industries through loan guarantees. Funds provided through FIF can be utilized for land and building acquisition, construction, machinery and equipment upgrades, and working capital. Daniel L. Metzler, through SEDA-Council of Governments, received the funding to acquire a 23 acre farm in Lewisburg, Union County.
- Multimodal Transportation Fund (MTF) – $56,143,529
- MTF provides grant funding to encourage economic development and to ensure safe and reliable systems of transportation for residents of Pennsylvania. These funds can be utilized for development, rehabilitation, enhancement of transportation assets, streetscape, lighting, sidewalk enhancement, pedestrian safety, connectivity of transportation assets, and transit-oriented development. The funds will be used for 155 MTF projects that were approved.
It should be noted that these MTF projects are scattered across 45 counties – five of which are in Central Pennsylvania: Cumberland, Dauphin, Franklin, Lancaster, and York.
To view a full list of all 155 MTF projects, can click here.
For more information on the CFA and its programs, you can click here.
“The projects funded today will help make the Commonwealth a better place to live, work, and prosper,” Acting Secretary Siger said. “From making critical infrastructure improvements, to strengthening small communities, these projects work to enhance our economy and improve the quality of life for Pennsylvanians.”
According to the Governor’s Office, this approved funding aligns with Gov. Shapiro’s proposed budget, which provides ‘common sense solutions to the most pressing issues facing Pennsylvanians’.
