2C — February 14 - 27, 2020 — Pennsylvania — M id A tlantic Real Estate Journal
Regional Industrial Development Corporation The Mon Valley — Poised for Future Growth
egional Industrial Development Cor- poration (RIDC) has had a significant role in the Pennsylvania Mon Valley, with properties comprising over 3 million s/f of buildings on more than 460 acres and housing 2,000 jobs. In a region that faced economic decline when the steel industry col- lapsed, these properties pro- vide a strong foundation for future growth and economic development. Some of the positive developments from the past year include: • PA Turnpike is acquiring property to extend the inter- state into the heart of the region—Duquesne. • United States Steel Corp. announced reinvestment of $1 billion in two of its Mon Valley plants. • The City of McKeesport received a six-year, $3 million redevelopment grant from the State's Neighborhood As- sistance Program to improve its housing stock, develop its downtown area and increase recreation and tourism. • RIDC received a $671,200 grant from the State’s Indus- trial Sites Reuse Program to begin environmental reme- R
1 South Linden St. in the City Center of Duquesne, an RIDC industrial park.
diation work at old industrial sites. • River Materials Inc., a supplier of raw materials, bought 8.32 acres in McKees- port from RIDC for $461,700 and has begun development on a new intermodal facility at the former U.S. Steel National Works. • RIDC donated the three- story Business Innovation Center building in Duquesne to the Urban League of Great- er Pittsburgh. The Urban League’s presence in the build- ing has helped Duquesne fami- lies deal with the challenges they faced after its industrial facilities shut down. • Other big wins for RIDC and the Mon Valley include companies such as Dura-Bond Industries expanding steel
production inMcKeesport, and American Textile Co. expand- ing its operations in Duquesne and McKeesport. The Mon Valley is an op- portunity zone ripe for ad- ditional private investment. It has strong historic bones, walkable business districts, low costs and partnership- minded elected officials that can be a winning combination for companies. There is also good work being done to com- bat blight and prepare vacant sites to host new companies that create job opportunities for community members. If the Mon Valley continues to market its cost advantages and enhance its cool historic features, creative companies and workers will come, and the region’s future will brighten.
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