Tuesday, November 16, 2004
The agency helped to bring in $2.6 million in site infrastructure improvements.
GREENVILLE, Pa. -- Penn-Northwest Development Corp. helped to create 277 jobs, retain more than 600 others and bring $60.8 million in private investment into Mercer County in fiscal 2003-04.
The agency also made progress on an aggressive economic development action plan during the year, according to William Perrine, chairman.
Perrine made his report at Penn-Northwest's annual meeting Monday at Thiel College.
Larry Segal, executive director of the Pennsylvania Governor's Office of Housing and Community Revitalization, discussed key points of Gov. Ed Rendell's stimulus package in his keynote speech at the meeting.
Accomplishments
Perrine outlined a long list of the year's accomplishments, including:
* Creating or expanding college internships through a program that is part of the corporation's Brain Gain Initiative, generating an additional $25,000 to connect potential employees with employers. The program funded 58 intern positions and leveraged $87,192 in private sector funds.
* Running a business retention call program that contacted 240 companies, of which more than 30 percent resulted in direct assistance.
* Handling 52 active projects and 44 prospects.
* Developing promotional materials for LindenPointe Innovative Business Campus, Hermitage, and Reynolds Industrial Parks, Greenville.
* Providing site development assistance to LindenPointe, Greenville Reynolds Development Corp. and its Industrial Parks and Trinity North & amp; South plants in Greenville.
* Helping to secure $13 million in state infrastructure planning and development improvement funds for the Grove City area.
* Helping to secure $150,000 in a state infrastructure development grant for Jones Performance, West Middlesex.
* Approving two loans totaling $250,000, to assist in leveraging total investment of $2.6 million for infrastructure and site expansion projects.
* Helping with the expansion of Technical Precision, Inc., Perry Township, a $737,000 investment creating 33 jobs.
* Helping with expansions of Buhl Community Water Co., Carolina Carports, Forney, Inc., Jones Performance, Industrial Machine Design, Joy Cone Co., Winner Steel and Mercer County Solid Waste Authority. Investments in those projects reached $60.8 million, creating 277 jobs and preserving 660 jobs.
* Packaging of $742,500 in various low-interest loans and $372,850 in grants.
* Assisting in securing a $530,000 expansion project for Legacy Banquet and Conference Center, Grove City.
Penn Northwest provides marketing, coordination and financial services to help retain and expand businesses and to attract new business to the Mercer County regional service area.