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RIDC SELLS ALIQUIPPA BUILDING BEAVER MANOR TO SELECTRODE INDUSTRIES
Aliquippa, PA—October 22, 2021—Regional Industrial Development Corporation of Southwestern Pennsylvania (RIDC) has sold Beaver Manor, a 40,200-square-foot building, to Selectrode Industries, Inc. for $3,200,000. Beaver Manor is located in Beaver County Corporation for Economic Development’s Hopewell Industrial Park and is adjacent to a Selectrode-owned building.
Selectrode will occupy a portion of the building initially, with existing tenants remaining in place. For over 40 years, Selectrode has manufactured high-quality common and specialty alloys with Private Labeling Options for companies worldwide.
“Since establishing our roots in Beaver County in 1994, Beaver County Corporation for Economic Development and RIDC have been instrumental in helping us scale our businesses and to create jobs in the region,” said Paul Paternoster, Selectrode President.
“RIDC was the first tenant in the Hopewell Industrial Park and without their initial investment I’m not sure the park would have been as successful as it is,” said Lew Villotti, President of the Beaver County Corporation for Economic Development. “We are extremely happy to have Selectrode, one of our premier manufacturers, make a continued investment in the park and Beaver County.”
“Seeding regional county business parks, and spurring private investment, is a significant part of our greater economic development strategy,” said Donald F. Smith, Jr., RIDC President. “When companies like Selectrode gear up for a potential expansion, it’s a sign that our goals are coming to fruition and our partnership with Beaver County is proving successful.”
“County partnerships like the one we have with Beaver are integral to successful economic growth,” said Timothy White, RIDC Senior Vice President of Development. “In the late 1980s, we designed and constructed Beaver Manor, one of the park’s first buildings. It was built on spec with the hope of kickstarting activity at the site. Today it is home to NFF Avionics, Proceq, Office Depot, and now Selectrode.”
Selectrode is receiving a PIDA loan, sponsored by Beaver County, to cover a portion of the cost of the transaction.
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.