HARRISBURG – Rep. Valerie Gaydos (R-Allegheny) today announced the Commonwealth Financing Authority awarded a $1.2 million Business in Our Sites (BOS) grant and a $1.8 million BOS loan for the development of Phase III of the development of the Pittsburgh International Airport Innovation Campus (PAIC), located in Findlay Township.
The Allegheny County Airport Authority (ACAA) is working with Pittsburgh International Airport to develop a project that will provide Class A offices and Research and Development sites to attract additional international trade to the Pittsburgh region. The project will consist of more than 1 million square feet of commercial space, 90,000 square feet of research and development space, and a site for a 400-room hotel with convention space.
Additionally, there is space for up to six corporate hangars allowing companies to locate their headquarters and hangar in the same business park.
“This project will attract more businesses and a significant number of new jobs, which adds up to strengthening the economy,” said Gaydos. “It is estimated that nearly 3,000 new jobs will be created. Over the past 18 years, the Allegheny County Airport Authority has successfully developed five business parks that have created or retained 6,500 jobs on airport property. The business parks total more than $400 million in private investment.”
BOS funds will be used for engineering, excavating and grading, remediation, roads, installation of utilities, storm water drainage and landscaping.
The Commonwealth Financing Authority Business in Our Sites funding empowers communities to attract growing and expanding businesses by helping them build an inventory or ready sites. This program is for speculative projects only. Funds cannot be used for projects that are primarily residential or recreational. Sites must be previously used property or undeveloped property that is planned and zoned for development.
Representative Valerie Gaydos
44th Legislative District
Pennsylvania House of Representatives
Media Contact: Rick Leiner