Governor Rendell: New State Investments Will Create Thousands of New Jobs in Allegheny County

Press Release

Governor Edward G. Rendell today said Pennsylvania has awarded
$84 million for 19 projects throughout Allegheny County that will provide the
foundation for the creation of more than 10,000 new jobs.

"We've been investing in Pennsylvania communities and businesses since the start of my administration with great success," the Governor said. "The 19 new investments we are announcing today will go a long way toward ensuring the health and viability of these communities for many years to come."

Funding for the 19 projects comes from the state's Redevelopment Assistance
Capital Program, which operates on a reimbursement basis as construction
expenses are billed and paid on projects that have been approved by the General Assembly and signed into law by the Governor.

In addition to the state's $84 million investment, the projects will leverage $165 million in private support.

Point Park University will receive a $2.5 million RACP grant from Governor Rendell for the construction of a park at Wood Street and Boulevard of the Allies. The new facility will improve the quality of life for visitors and residents of the neighborhood by replacing a surface parking lot with greenery and water features. It will also be a key component of the university's academic village initiative.

Governor Rendell said Pennsylvania has strategically used its ability to borrow money for vital community projects like these. Wall Street debt-rating agencies, like Moody's Investors Services, consistently categorize the commonwealth's debt burden as low.

"Programs like RACP and investments like these have helped to keep Pennsylvania's construction industry going despite the economic downturn. These investments, and others like it that we have made across the state for the past 8 years, have helped to keep Pennsylvania's unemployment rate below the national average for 91 of the 94 past months," Governor Rendell said.

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