Gaming Fund Investments to Spur Community and Economic Development in Allegheny County

HARRISBURG, Pa., July 8, 2015 /PRNewswire-USNewswire/ -- The Commonwealth Financing Authority today approved the allocation of $3,410,609 in gaming funds to the Redevelopment Authority of Allegheny County to support 14 community and economic development initiatives.

"The projects approved today by the Commonwealth Financing Authority will positively impact Allegheny County," Governor Wolf said. "Capital available through casino revenues will now assist in a number of projects aimed at making significant community and economic improvements and building strong, stable communities."

The Commonwealth Financing Authority (CFA) approved more than $3.4 million in funds to the Redevelopment Authority of Allegheny County (RAAC) for 14 projects. The funds originate from the Pennsylvania Gaming Economic Development and Tourism Fund Program (GEDTF) – a program established to fund community and economic development projects in Allegheny County through revenues generated from all casinos. The funds are determined via a daily assessment of the licensed facility's gross terminal revenue.

The GEDTF program provides grants for single-year and multi-year projects that promote development in Allegheny County including: economic, infrastructure and community improvements, job training, public safety, public interest, and costs to administer GEDTF funds.

One of the projects approved by the CFA will allow Stemnion, Inc. to expand its facilities in Allegheny County to include a commercial-scale, biological manufacturing facility from which it will launch its first clinical product. The facility is anticipated to consist of 50,000-square-feet with capacity to add 50,000-square-feet as needed. The expansion will house commercial scale, biological manufacturing within FDA-approved clean rooms, appropriate utility support, quality control laboratories, quality assurance capabilities, manufacturing development activities, office and cubicles for administration and staff. The company projects this project will create 496 new, full-time jobs.

For more information about GEDTF, the CFA or a complete list of approved projects, visit www.newpa.com/cfa.

MEDIA CONTACTS:
Lyndsay Kensinger, DCED, 717-783-1132
Megan Healey, Governor's Office, 717-783-1116

SOURCE Pennsylvania Office of the Governor

Related Links

http://www.governor.state.pa.us