FOR IMMEDIATE RELEASE:
Media Contact: Steven Alschuler, salschuler@ridc.org, 917-647-2151
Pictured from left to right: Timothy White, RIDC Senior Vice President; Alicia Henry, WCIDC Marketing Director; Jeni Cooper, RIDC Director of Community Investment; Kim Donnelly, WCIDC Business Development Director; Jason Rigone, WCIDC Executive Director; and Sophie Beacom, RIDC Economic Development Specialist.
New Kensington Redevelopment Project Receives Prestigious PEDA Economic Development Award
Pittsburgh, PA – October 10, 2024 – The Regional Economic Development Corporation of Southwestern Pennsylvania (RIDC) and the Westmoreland County Industrial Development Corporation (WCIDC) were awarded the Pennsylvania Economic Development Association (PEDA)’s prestigious Economic Development Project of the Year award. The award is for their work redeveloping the former Alcoa campus in New Kensington and attracting Re:Build Manufacturing, a major new company to the region, which plans to create hundreds of new manufacturing jobs.
The award recognizes outstanding economic development projects.
“This recognition by PEDA is particularly gratifying because it’s for a project that embodies RIDC’s mission,” said RIDC Senior Vice President Timothy White, who accepted the award at PEDA’s annual conference. “We’re able to succeed at these and other projects because of strong partnerships with local and county economic development agencies and the Commonwealth. We’ve taken a big first step with Re:Build and looking forward to the heavy lifting ahead on the rest of the site.”
The first phase of the build out for Re:Build’s space has been completed. A strategic and capital plan for the rest of the historic site is currently being developed.
Re:Build’s commitment brought with it the prospect of high-quality manufacturing jobs to a long underutilized, much-neglected site. But it was much more than that. It changed the trajectory of this million square foot plus park, built confidence in the future, and created new momentum for the surrounding area.
Since the Re:Build announcement last year, RIDC has announced two significant lease signings, with manufacturing company Affival and APA Trucking, both current tenants expanding their space and now accounting for a combined 260,000 square feet. Together with the Re:Build deal, that’s a total of 435,000 square feet worth of transactions signed – translating into hundreds of jobs.
“We’re starting off with a great tenant in Re:Build,” added WCIDC Executive Director Jason Rigone, “and we’re certainly excited to see their impact on the community, But we’re also excited about the prospect of modernizing the other 85% of this facility.”
About RIDC:
The mission of the Regional Industrial Development Corporation of Southwestern PA is to catalyze and support economic growth and high-quality job creation through policy advocacy, real estate development and finance of projects that advance the public interest. A not-for-profit entity, RIDC’s 7.7 million square feet of property, in 15 industrial and innovation parks, is currently home to 118 companies that support over 8,000 jobs. More information is available at www.ridc.org.
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Pittsburgh Business Times – New Kensington redevelopment project receives prestigious PEDA Economic Development Award
