Corbett Administration Supports Manufacturing Growth and Job Retention in Lawrence County

Press Release

Governor Tom Corbett today announced that RWE Holding Company
will move forward with an expansion project that is projected to support the
creation of seven jobs and the retention of 10 positions in Lawrence County.

"My administration is committed to putting Pennsylvanians back to work through
investments made in manufacturing," Corbett said. "Our support of RWE's
expansion will result in new construction and new job creation in Lawrence County."

RWE Holding Company, a processor of carbon and graphite products and producer
of coke for the steel industry, will construct a new building on a Brownfield site
located in Taylor Borough. The company will invest more than $1.2 million on the
project that is projected to create seven new jobs in the next three years and retain
10 existing employees.

The Pennsylvania Industrial Development Authority (PIDA) will provide a $595,000
million, 15-year low-interest loan at 1.5 percent to the Lawrence County Economic
Development Corporation on behalf of RWE Holding Company.

To address a key recommendation of the Governor's Manufacturing Advisory
Council (GMAC), the Department of Community and Economic Development
reduced the interest rates of five business loan programs, including the PIDA. The
rates were reduced from 2.75 percent to 1.5 percent and fees charged to borrowers
were waived. The new rates for PIDA applications expired March 31. The reduced
rates for the additional four programs were extended and are in place for
applications received through June 30.

"My administration's action to address this key GMAC recommendation has sent a
strong message to the business community that we are serious about job creation,"
Corbett said. "Pennsylvania is committed to growing our businesses and the
commonwealth's financing support provides the appropriate capital for RWE Holding
Company's expansion.

In 2013, PIDA has approved $26.4 million in low-interest loans that have resulted
in $53.2 million in private investment and supported 8,389 jobs.

PIDA provides capital for building acquisition, construction and renovation work,
primarily for manufacturers, industrial developers, research and development firms,
agricultural processors and employers looking to establish national or regional
headquarters in Pennsylvania.

For more information about the Department of Community and Economic
Development and other job creation initiatives in Pennsylvania, visit newPA.com or
call 1-866-466-3972.

Source