RIDC given $2.25 million loan for potential county development
MAHONING TWP. – Gov. Tom Wolf recently announced that the Regional Industrial Development Corporation (RIDC) of Southwestern Pennsylvania will receive a loan through the Pennsylvania Industrial Development Authority (PIDA).
The loan is for 15 years, worth $2.25 million, at a fixed 2.5% interest rate.
It will be used to acquire 247 acres of land at the intersection of Route 422 and Baird Road, in Mahoning Township, for the development of a proposed industrial park.
This is according to Lawrence County Commissioner Dan Vogler, who also sits on the RIDC board of directors, which is an unpaid position.
Vogler said RIDC owners are currently in negotiations with the owners of the property about acquiring the property.
He said the property in question is “relatively flat,” which is very rare in western Pennsylvania.
He also said the land years ago was originally planned to be the site of a horse race track and casino, but the plans fell through.
RIDC has commerce parks across the commonwealth, including one in Lawrence County – the Neshannock Business Park, which, according to Vogler, has been around for over 20 years and is nearly full with commercial businesses.
RIDC president speaks on economic opportunity
RIDC President Don Smith said it is the goal of the company, with the proposed industrial park, to both attract new businesses to Lawrence County, and to expand on businesses in the area.
“I think there’s a great opportunity for new development and new jobs,” he said.
Smith said he would like to see a focus on manufacturing, technology, and distribution companies coming into the proposed park.
More: Recommendations presented on how to move Lawrence County forward
“We think there is a strong opportunity to the region for those companies,” he said.
Smith said he envisions the proposed park to be successful due to its location to both major highways and major markets like Pittsburgh and Cleveland, and well as the area’s position in competitive cost environments.
He said this region, in particular, has had a resurgence in the demand for infrastructure industries and businesses, thanks in no small part due to the growth in the supply chain.
All of these factors make Smith believe another industrial park in Lawrence County would be beneficial.
He said he would like to start building the foundations for the park in 2022.
Smith added that he has been in talks with both county and local officials about this potential development, and has had a great working relationship with the county through the Neshannock Business Park.
Nicholas Vercilla is a staff reporter for the Beaver County Times and Ellwood City Ledger. He can be reached at nvercilla@gannett.com.
This article originally appeared on Ellwood City Ledger: Potential new industrial park coming to Lawrence County
