GREENSBURG, Pa., April 17 /PRNewswire/ -- PA Governor Edward G. Rendell
presented a $5 million check to Seton Hill University President JoAnne Boyle
for the creation of the Seton Hill University Center during a visit to
Greensburg today. The funding was provided through the Redevelopment
Assistance Capital Program (RACP), which helps rejuvenate Pennsylvania's
downtown areas.
"This project will create a stronger cultural, educational and mercantile
base in Greensburg that will encourage tourism, enhance a vibrant college town
and create jobs," said Governor Rendell. "With at least 318,000 people
collecting unemployment benefits in Pennsylvania and tens of thousands more
out of work, retaining the jobs we have and creating new ones must be our top
priority."
The Center is being created through a partnership of Seton Hill
University, the City of Greensburg, the Westmoreland Trust and the Greensburg
Salem School District. The Center will help revive the Greensburg cultural
district by building on the momentum of the recently restored and renovated
Greensburg Train Station, Palace Theatre and historic Stark and James
buildings.
Seton Hill's new, $11.3 million, 50,300-square-foot Center for the Arts
will include an interconnected 28,800-square-foot theater building and a
21,500-square-foot music building. The building will front Ehalt Street,
Harrison Avenue and Otterman Street.
RACP is a Commonwealth grant program administered by the Office of the
Budget for regional economic, cultural, civic and historical improvement
projects.
The expansion of RACP is one of two programs in the Governor's job-
creating economic-stimulus package that is still pending. The overall program
-- recently approved by the Legislature in overwhelming, bipartisan votes --
will leverage up to $2 billion in grants, loans and guarantees over the next
three years to generate an anticipated $5 billion in private-sector investment
to help start new businesses in Pennsylvania and help existing companies
expand here.
The following stimulus package programs were recently passed by the full
Legislature:
-- Business in Our Sites
-- Building PA
-- New PA Venture Guarantee Program
-- New PA Venture Capital Investment Program
-- First Industries Fund
-- Second Stage Loan Program
-- Tax Increment Financing (TIF) Guarantee Program
-- Infrastructure & Facilities Improvement Program
These programs join other pieces of the overall stimulus program passed in
December and February, including the Elm Street program, Keystone Innovation
Zones, the Expanded Research and Development Tax Credit, the Base Retention
and Conversion program and Core Industries.
The other pending program is Penn Works, which will provide $250 million
worth of loans and grants to job creation projects that require improvements
in water and sewer systems. The Legislature has approved a statewide
referendum on whether to adopt this program. The vote is April 27.
For more information on Department of Community and Economic Development
programs, please visit http://www.newPA.com, or call 1-866-GO-NEWPA (1-866-466-3972).
To help Governor Rendell revive the state's economy, Citizens Bank of
Pennsylvania recently launched an unprecedented public-private partnership
with the Commonwealth -- the Citizens Job Bank -- in which Citizens will offer
$100 million in loan funds at an extremely low interest rate to companies that
commit to creating or expanding jobs in Pennsylvania.
The Citizens Job Bank requires borrowers to create a minimum of one full-
time job for every $25,000 borrowed at the unmatched interest rate of 2.5
percent. The Bank's goal is to create more than 4,000 jobs in Pennsylvania
within three years. Citizens is waiving all fees traditionally tied to loan
applications as an additional incentive.
CONTACT: Kate Philips
717-783-1116
|
