Corbett Administration Announces Economic Growth Initiative Awards

Thursday, January 14th 2013

Corbett Administration Announces Economic Growth Initiative Awards

From the Pennsylvania Office of the Governor

Corbett Administration Announces Economic Growth Initiative Awards
Transparent and Objective Process Yields More Than 56,000 Jobs in 54 Quality
Redevelopment Projects.

Harrisburg – Governor Tom Corbett today announced the award of 54 new
Economic Growth Initiative grants. Fifty-four projects, totaling nearly $125 million
were selected for funding. These projects will create or retain more than 56,000
jobs in 28 counties across the state.

The program provides grants to local communities for the acquisition and
construction of regional economic, cultural, civic, and historical improvement
projects.

Last year, Corbett reformed the state’s method of funding redevelopment
assistance capital projects with a significant redesign, making the process more
transparent and objective. Projects are now selected based upon their job-creation
potential, their economic impact, as well as their viability and construction
readiness.
Prior to Corbett’s taking office, the state’s spending and borrowing for capital
redevelopment assistance had become unsustainable for the state and its
taxpayers, growing from $400 million in 1986 to slightly more than $4 billion in
2010. Corbett also said that the program had strayed considerably from its
intended purpose of encouraging and assisting job growth through regional
economic development projects.

Governor Corbett explained that the redesigned program has a clearly defined
application process with published guidelines and procedures, a merit-based
evaluation and selection system, and increased transparency. The new program will
also maintain thorough monitoring, measurement and reporting, including posting
all applicants and selected projects on the Office of Budget’s website.

“Through transparency and well-established criteria, we can assure taxpayers that
the projects we fund today will be of true benefit to their communities and will
create jobs that Pennsylvania needs,” Corbett said. “This newly improved program
will allow us to pay down our existing debt instead of passing it onto our children.”
Some of the projects selected include funding for the refineries in the Southeast, a
pharmaceutical plant expansion in the Northeast, reconstruction along the
waterfront of Lake Erie in the Northwest and extensive downtown redevelopment in
the Southwest. The grants range in value from a minimum of $500,000 to a
maximum of $5 million.

Because the applications submitted for this round of grants far exceeded the
amounts available, those who didn’t receive grants are encouraged to work with the
Office of Budget to determine the likelihood of success in the next round.
For a full listing of selections and for more information, visit the Budget Office
online at www.budget.state.pa.us and select the Redevelopment Assistance Capital
Program link.

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