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RIDC BREAKS GROUND ON NEW BUILDING AT RIDC ARMSTRONG INNOVATION PARK
Photo credit: Alex Jones Photography
South Buffalo Township, PA, April 20, 2023 — Regional Industrial Development Corporation of Southwestern Pennsylvania (RIDC) and Armstrong County Industrial Development Council (ACIDC) were joined today by government and community leaders in breaking ground on a new 30,000-square foot tech flex building at RIDC Armstrong Innovation Park (formerly Northpointe Industrial Park).
RIDC, which recently acquired the 10-acre parcel from ACIDC, will begin construction on the $5.3 million building shortly. It is being financed through a $2.25 million loan from the Pennsylvania Industrial Development Authority (PIDA), a $2 million grant from the Regional Assistance Capital Program (RACP), and equity from RIDC. A second building is also planned for the adjacent site.
RIDC and ACIDC also announced today that RIDC is acquiring the additional 72 acres of developable land at the park and has been granted an option for an additional 543 acres of raw land that it can prepare for development in the future. RIDC paid $881,683 and will share profits with ACIDC 50/50 after the costs of future development are recouped.
RIDC entered into an agreement with ACIDC last year to manage and market vacant land at the Park and to plan for larger scale development that will bring high-quality technology and light industrial jobs.
In addition, ACIDC has previously said that it would enter into an agreement to develop 100 residential units in the Park, with more details to be coming in the near future.
Senate Majority Leader Joe Pittman commented: “This is a significant step forward in the continued growth of jobs and development at RIDC Armstrong Innovation Park. Working with Representative Abby Major, I am pleased our efforts to secure $2 million in state RACP funding for this project are beginning to show results. I look forward to dedicating this structure, when completed, as the home of good paying, family sustaining jobs for our citizens. However, while this is an exciting day, much work remains to be done. With cooperation of the South Buffalo Township Supervisors, Armstrong County Commissioners and the Armstrong County Industrial Development Council, we will continue to aggressively advance efforts to bring more development opportunities to the Route 28 corridor.”
Don Myers, Armstrong County Commission Chairman, said: “Today is an exciting day and a culmination of our efforts in restructuring economic development, and the new partnership we have established with RIDC. There is a shared vision with everyone involved here today, and that vision is to move Armstrong County forward with growth & development that will create new job opportunities for Armstrong County residents! This is only the beginning of good things to come, and we are very pleased with the progress thus far.”
“This is a great day for Armstrong County!” said Jason Renshaw, Armstrong County Commission Vice Chairman. “The construction of this new tech flex building is a sign of the confidence that businesses have in our community, and it will help to attract even more investment in the future.”
“The Armstrong County Board of Commissioners set an aggressive agenda in developing RIDC Armstrong Innovation Park,” added Pat Fabian, Armstrong County Commission Secretary. “The partnership with RIDC, the collaboration with state and local officials has created momentum and this investment is another piece of the resurgence at RIDC Armstrong Innovation Park.”
“This is an outstanding location and we’re going to build the kind of modern facilities that attract companies creating high-quality jobs,” said RIDC President Donald F. Smith, Jr. “We need sites in this region that can accommodate large, growing companies and drive economic development for this community – and this groundbreaking is the beginning of an effort to make that happen.”
RIDC Senior Vice President of Business Development and Strategy Timothy White added: “Community leaders set the tone and the priorities, and the Board of Commissioners has been a valuable partner in this project. Working together, we can ensure that its success will be something the community is proud of.”
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 has developed over 2,800 acres in 14 industrial and innovation parks and manages over 7 million square feet. More information is available at www.ridc.org.
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