Developer Awarded Funding for New Business Park in Wampum
WAMPUM, Pa. – The Pennsylvania Commonwealth Finance Authority has awarded $5 million to a private developer that will build a new business park in southern Lawrence County.
The park will be built by LaCarte Development Co. at the site of Stonecrest Golf Course in Wampum. The state finance authority provided a $2 million Business in Our Sites grant and a $3 million loan. In total, the project will cost at least $7 million, said John LaCarte, president of the development company, in a statement.
“It is very rare to find a 200-plus-acre tract of land in western Pennsylvania with such an enviable topography and access to infrastructure and transportation systems,” he said. “Our engineers had prepared a feasibility study noting the need to extend critical infrastructure such as water, sewer, natural gas and electricity to the site. With these funds and private capital, the engineering and work on the installation of infrastructure and roads can begin pending the successful closing of the purchase of the property.”
LaCarte estimates 1.5 million square feet of buildings can be built at the site and the businesses in the park will employ up to 1,000.
The Lawrence County Regional Chamber of Commerce and Economic Development Corp. assisted LaCarte Development in applying for the state grant after the company reached a sale agreement for the site last year.
“The LCEDC was pleased to facilitate with the application process and looks forward to working with Mr. LaCarte and his team,” said Alex McCoy, CEO of the chamber.
Added Lawrence County Commissioner Morgan Boyd: “This project is one of the top economic development priorities for Lawrence County. Lawrence County recognizes the importance of private developers coming into our county with plans to boost our economy through increased jobs and taxes. We welcome this opportunity.”
LaCarte Development is a division of LaCarte Enterprises, which also operates several clothing and dry cleaning businesses throughout southwestern Pennsylvania and northeastern Ohio, including Model Cleaners, Model Uniforms, Model Apparel, FracWear, The Fussy Cleaners, Williamsburg Cleaners and Smockel. The company also owns Stoney’s Brewing Co.
LaCarte Enterprises is based in Charleroi, Pa., about 20 miles southwest of Pittsburgh.
Copyright 2020 The Business Journal, Youngstown, Ohio.