PA Governor Rendell Announces $2 Million Investment to Help Create More Than 100 Jobs, Redevelop Underutilized Blair County Property

HARRISBURG, Pa., March 24 -- Pennsylvania Governor Edward G. Rendell today announced Pennsylvania's investment of $2 million to breathe new life into the former Norfolk Southern Rail Car Shop in Hollidaysburg, Blair County, and create more than 100 new jobs.

The state funds will support the purchase and redevelopment of the property so it can be turned into a mixed-use, commercial/industrial/open space complex.

"Throughout Pennsylvania, we continue to make investments that are helping our communities attract new jobs and new businesses," Governor Rendell said. "By breathing new life into former industrial sites, and helping to develop shovel-ready locations, we are making sure we can meet the needs of companies looking to grow and expand while creating new opportunities for our working men and women.

"This project is an excellent example of how our innovative $2.8 billion economic stimulus plan works. Small communities, like Hollidaysburg, have fewer resources to devote to development of business locations. With our investment, we can help towns and cities with projects like this one that bolster our business-friendly reputation and encourage business expansion."

The state's funding is provided through the Redevelopment Assistance Capital Program (RACP).

The initial phase of the project is estimated at $4 million, including the purchase price and facility improvements. D Holdings Inc. and two other affiliates of the DeGol Organization will serve as the initial industrial occupant, primary tenant and principal private developer for the entire project.

As part of the phase II redevelopment of the 750,000-square-foot building, manufacturers Seven D Truss and D Shapes and Doors will occupy a large portion of the existing building, resulting in the expansion of their Pennsylvania manufacturing operations, preservation of existing jobs and creation of new job opportunities. Subsequent phases include ongoing predevelopment and concept planning to maximize and diversify utilization of the balance of the property.

"The acquisition and redevelopment of the Hollidaysburg car shops has been identified as a regional priority investment and critical to the future of the economic growth of the Altoona, Blair County, area, the I-99 Innovation Regional Corridor and the southern Alleghenies region," said Martin J. Marasco, president and CEO of ABCD Corp. "In addition to functioning as a 'hub' for manufacturing and warehousing operations, the complex, once fully developed, will enhance initiatives to implement emerging and innovative programs and projects for new knowledge-based firms considering relocating, expanding or starting up in our area."

The commonwealth also supported this project by awarding a $175,000 Business in Our Sites Planning Grant to ABCD Corp. in December 2004. The funds were used for an engineering feasibility study, an environmental investigation, mapping, wetland delineation, concept plan development, storm water management design and an infrastructure improvement plan.

The Redevelopment Assistance Capital Program is a commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic and historical improvement projects.

Since February 2003, Governor Rendell has issued a total of $733 million in RACP grants for 258 projects.

For information on Governor Rendell's economic stimulus package and other Department of Community and Economic Development programs, visit http://www.newpa.com/ or call 1-866-GO-NEWPA (1-866-466-3972).

The Rendell Administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us/.