FOR IMMEDIATE RELEASE: Media Contact: Desiree Niccoli, firstname.lastname@example.org, 412-535-5701
RIDC SELLS MCKEESPORT LAND PARCEL TO RIVER MATERIALS;
SITE TO BECOME NEW INTERMODAL FACILITY
Regional Industrial Development Corporation of Southwestern, PA (RIDC) has closed on the sale of 8.32 acres in McKeesport to River Materials for $461,700. River Materials began development in the spring for a new intermodal facility on 18 acres of the former U.S. Steel National Works. The facility will employ approximately 50 people.
The remaining 9.68 acres are still owned by RIDC, and are currently leased to River Materials, but RIDC expects to sell the parcel to the company as early as the end of next year. RIDC owns and operates the Industrial Center of McKeesport, which occupies much of the former U.S. Steel site.
River Materials President Gina M. Shank and Chairman Clifford Wise both said: “RIDC has been a great partner in helping us overcome development obstacles at a site that was once considered unusable. Its proximity to the Monongahela River and CSX Railroad’s Riverton Yard makes it an otherwise ideal location for us that will make transporting shipments easier. We are also eager to join the McKeesport community and provide new jobs there and in the surrounding area.”
River Materials is a Braddock-based network of companies that operates steel recycling, transportation and materials-handling businesses, providing services to power plants, construction material businesses, recycling centers and other industries throughout Pennsylvania. The new intermodal facility will be used for warehousing, processing and recycling and include buildings for offices, storage, light manufacturing, as well as railroad car and barge remediation.
RIDC President Donald Smith said: “The Mon Valley has seen a number of important developments recently and is primed for growth as an affordable alternative, with proximity to the City. Large projects and commitments like the one being made by River Materials demonstrate the viability and the value of this region.”
RIDC Senior Vice President for Development Tim White said: “RIDC’s mission is to redevelop properties like this one in ways that create jobs and spur economic development for the communities they’re in. We would not be able to do this work as effectively without the support of elected officials like County Executive Fitzgerald, Mayor Cherepko, Representative Davis and Senator Brewster, who have always been supportive of our efforts to redevelop the old U.S. Steel National Works site.”
The mission of the Regional Industrial Development Corporation of Southwestern Pennsylvania is to catalyze and support economic growth and high-quality job creation through real estate development and finance of projects that advance the public interest. A not-for-profit entity, RIDC owns over 2,800 acres of land in 11 industrial parks and manages over 50 buildings. More information is available at www.ridc.org.
Pittsburgh Business Times – RIDC sells land in McKeesport