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FOR
IMMEDIATE RELEASE Senator Armstrong Announces State Funding For Redevelopment of Former Industrial SiteProject Will Create 2,000 Jobs, Provide New Commercial & Retail Space HARRISBURG -- Senator Gibson Armstrong (R-13) announced today that EDC Finance Corporation of Lancaster has received $10 million in state funding to redevelop the Armstrong World Industries site in Lancaster. The funding includes a $5 million state grant and a $5 million state loan awarded through the Commonwealth Financing Authority's "Business in our Sites" program, Sen. Armstrong said. EDC will assist in the development of a 47-acre site on the Armstrong property, part of a Keystone Innovation Zone, the senator said. EDC will develop 19.3 acres of the property for commercial, retail and institutional purposes; the remaining 27.7 acres will be remediated and transferred to Franklin and Marshall College for collegiate and community athletic and recreational fields. The state funding will be used for environmental remediation, building demolition, road and street improvements, and water and sewer lines. "I'm very gratified to be able to make this announcement on behalf of the Commonwealth," said Sen. Armstrong. "I've been behind this project from the beginning, and I think it's terrific that EDC, Franklin and Marshall College and Armstrong World Industries are working together to give this site new life. It's great news." Sen. Armstrong noted that an estimated 2,000 new jobs will be created as a result of the project. The total project cost is $33.5 million.
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