Penn-Northwest Reports $49.5M in Investments
MERCER, Pa. — As the lead economic development agency for Mercer County, Pa., Penn-Northwest Development Corp. enjoyed a successful 2017, both in terms of business development and increased membership, says President Randy Seitz.
Fiscal 2017 marked the completion of Penn-Northwest’s fifth “Program of Work” with staff reporting overall capital investment for projects in the amount of $49.5 million, the retention and creation of 559 jobs, membership revenue of $168,620 and marketing contributions of $71,000.
“Companies are taking a hard look at what we offer here: affordable business costs, lucrative local incentives, and a skilled workforce,” Seitz says. “The proximity to major transportation hubs make the region attractive.”
New industry projects announced at Penn Northwest’s annual meeting included Interstate Pipe & Supply Co., Moretto Plastics Automation, Performance Automated Robotics and Wish Development. Local projects included Ainsworth Pet Nutrition, G.W. Becker, Inc., Imperial Systems Inc. and Joy Cone Co.
A major achievement was saving the State Correctional Institution at Mercer, which provides $93.9 million of economic output in the county, 789 jobs, and $81.7 million in workers’ earnings annually. Seitz joined local political leaders at a Senate hearing in Harrisburg to present data that reflect its economic impact. Following the testimony, the State Legislature kept the prison open.
Another major project was the CHIP Building at the LindenPointe Innovative Business Campus. The 12,700-square-foot building is a project of the newly formed Community Hope Investment Partnership and the city of Hermitage. Penn-Northwest helped with most facets of the project and has launched a marketing campaign to find a tenant for the building.
Seitz says 2018 goals include improving on last year’s numbers: 118 new leads, 83 prospect proposals, and 12 site tours that led to four new companies in Mercer County.
Editor’s Note: This story was submitted for publication in The Business Journal’s Growth Report 2018. The 144-page edition features growth reports from more than 200 local businesses and organizations. It was published this week. If you are not a subscriber, CLICK HERE to purchase a copy or call Eileen Lovell at 330 744 5023 Ext. 1008.
Copyright 2018 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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