Harrisburg, PA – Department of Community and Economic Development (DCED) Secretary Rick Siger and PennDOT Secretary Mike Carroll today announced the approval of $700,000 in new funding for transportation infrastructure improvements at the Sterling Business and Technology Park in Lake Ariel, Wayne County. The Wayne County Economic Development Corporation was approved for $700,000 in Transportation Infrastructure Investment Funds (TIIF) for roadway improvements that will provide highway access from State Route 3004 for the development of nine lots at Sterling Business and Technology Park, opening up a total of 66.98 acres of developable land which is designed to support nearly 200,000 square feet of new industrial space.

“This project is a clear example of the Shapiro Administration’s efforts to boost Pennsylvania’s economy by investing in the priorities of local communities,” said DCED Secretary Rick Siger. “These critical road improvements will allow better access to the Sterling Business and Technology Park, as well as provide opportunities for new businesses to take up residence there.”

“The Shapiro Administration has shown its commitment to making investments that bring direct benefits to Pennsylvanians,” said PennDOT Secretary Mike Carroll. “This project will bring huge mobility benefits to the area, and is aligned with PennDOT’s vision of a safer, more connected Pennsylvania.”

The Transportation Infrastructure Investment Fund program is administered in cooperation with DCED and PennDOT. Today’s funding is in addition to the $900,000 PA SITES grant awarded to Wayne Economic Development Corporation earlier this month to expand sewage coverage at the park. Funding from both PA SITES and TIIF will enable 14 new developable industrial lots to come online for new business in Wayne County.

Under Governor Shapiro’s leadership, Pennsylvania is investing in economic development, job creation, and innovation to support our communities – and his 2024-25 budget proposal calls for $600 million in total new and expanded investments directly tied back to this ten-year strategy. The investments include:

• $500 million in PA SITES funding to bring more commercial and industrial sites online and ensure companies have options for attractive business environments where they can move quickly and thrive in Pennsylvania.
• $25 million for the Main Street Matters program, to support small businesses and commercial corridors that are the backbone of communities across our Commonwealth. This new program will build upon and modernize the Keystone Communities program.
• $20 million to support large-scale innovation and leverage Pennsylvania’s best-in-class research and development assets. This funding will be used to incentivize additional private venture capital, positioning Pennsylvania as a national leader in innovation while proactively investing in entrepreneurs who have historically lacked access to venture capital funding.
• $3.5 million to create and launch the Pennsylvania Regional Economic Competitiveness Challenge, which will incentivize regional growth, build vibrant and resilient regions, and support communities by investing in the development of comprehensive strategies to propel entire regions forward.

You can read Pennsylvania’s first economic development strategy in 20 years. For more information on how the Governor’s proposed budget will create opportunity for all Pennsylvanians, visit Governor Josh Shapiro’s Budget website.

For more information about the Department of Community and Economic Development, visit DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

MEDIA CONTACT:
Penny Ickes, dcedpress@pa.gov
Alexis Campbell (PennDOT), alecampbel@pa.gov or 717.783.8800

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