PENN-NORTHWEST DEVELOPMENT Company acquires Stateline land

Officials expect the industrial park to create 300-400 jobs.
HERMITAGE, Pa. -- Penn-Northwest Development Corp. completed the transaction today to acquire the 82-acre Stateline Industrial Park site in Hermitage.
The land, although located in Hermitage, belongs to the city of Farrell. Purchase price for the property was $630,000.
The transaction follows the announcement last week of a $1.5 million grant/loan package from the Commonwealth's Business in Our Sites program to develop the property. The program will provide funding for acquisition and development including infrastructure improvements, installation of sanitary and storm sewer lines and water and electrical service, in addition to access roadway construction.
"Now we have all the resources in place to develop and market this valuable piece of real estate," said Larry Reichard, executive director of Penn-Northwest.
Job creation
The project is expected to create 300-400 jobs, Penn-Northwest officials said.
The vacant 82-acre property at State Line Road and Ohio Street was last used by Sharon Steel Corp. more than 20 years ago. It is designed as a Keystone Opportunity Zone. The process to return the site to a viable site for a new business began in 1996 with the recognition of the need for development sites.
The Stateline Industrial Park site is prime property not far from Interstate 80 with great potential for commercial or industrial development, Reichard said.
There have been inquiries by potential occupants in the past, but site control and the cost to bring the infrastructure up to what development would require have been a major obstacle, he noted.
"Today we have acquired the property we need to expand our county sites inventory, and have the funding in place to develop it," said William Perrine, chairman of Penn Northwest.
In addition to the acquisition and creation of industrial building sites, the BOS funds will be used for roadway and utility construction. Work to develop the site will begin in the spring of 2005.