Stonecrest Business Park Selected as PA Sites Finalist
NEW CASTLE, Pa. – The Stonecrest Business Park project in Lawrence County is one of only 20 applicants moving forward in the Pennsylvania Strategic Investments to Enhance Sites Program.
The program, administered by the PA Department of Community and Economic Development under the Pennsylvania First Program, provides grant funding to develop competitive sites and support relocation or expansion of businesses within the commonwealth.
“We are pleased that our proposed Stonecrest Business Park project was selected as a finalist for potential PA Sites grant consideration,” said John LaCarte, president of LaCarte Development Co. and principal for Stonecrest Business Park LLP. “Being included with such a very select group of applications demonstrates the PA Department of Community and Economic Development and the commonwealth’s commitment and recognition of the importance of our project to the economic future of Lawrence County.”
The proposed Stonecrest Business Park is located in New Beaver Borough and would be Lawrence County’s first privately developed park in more than 40 years. The project is expected to create approximately 1.5 million square feet of space and generate 750 to 1,000 new jobs.
“It is a pleasure working with John LaCarte on this important project for Lawrence County, and we look forward to completing phase II of the application in hopes the project is funded,” said Ben Bush, Forward Lawrence CEO.
The PA Department of Community and Economic Development received funding requests totaling $236 million for an available $10 million. The next phase of the application is due March 1.
“Stonecrest has the potential to produce hundreds of jobs with family sustaining wages right here in Lawrence County, and we look forward to working with John and the commonwealth to see this project to fruition,” Bush said.
The PA Sites program was made possible through an extra $13 million allocated in the 2023-24 state budget. PA Sites is set to allocate grant funding to qualifying applicants, including municipalities, economic development organizations and industrial development agencies. The funds are intended to enhance sites using grant dollars earmarked for various improvements such as transportation access enhancements, utility extensions or the preparation of pad-ready sites.
These enhancements aim to make previously used or underdeveloped sites shovel-ready, enabling businesses to relocate, expand and generate employment opportunities within Pennsylvania.
Published by The Business Journal, Youngstown, Ohio.