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Dinniman Announces $4.5 Million in State Funding for Two Economic Development Projects in the Coatesville Area
WEST CHESTER (November 28, 2016) – State Senator Andy Dinniman today announced that two economic development projects in the Coatesville area will receive $4.5 million in total state funding through Pennsylvania’s Redevelopment Assistance Capital Program (RACP).
The projects are as follows:
- $3 million to DEPG Coatesville Associates for the Coatesville Gateway redevelopment project. This urban infill project involves the demolition of existing buildings, construction of 20,000 square-feet of new neighborhood retail, secure residential parking, and 44 market-rate apartments to be built in a four-story mixed-use structure in the heart of downtown Coatesville.
- $1.5 million to Communications Test Design, Inc. for the CTDI Highland project. The company is constructing a state-of-the-art warehouse, distribution, and logistics facility, which will provide testing, repair and shipping of electronics equipment to service the telecommunications industry on a 42.6-acre site in the Coatesville area. This facility will allow CTDI to consolidate 3 existing leased facilities. Proposed RACP scope is for site work and storm management costs associated with this 510,000 square-foot project.
“These projects are important to maintain existing and grow new jobs in the Coatesville area, as we continue to work on other economic development initiatives to benefit businesses, communities, and families throughout the Chester County region,” Dinniman said.
RACP is funded by bonds, not general fund dollars, which are issued by the state every two to three years. RACP is administered by the Office of the Budget to support major regional, economic, cultural, civic and historical improvement projects. Eligible projects must include a 50 percent match of non-state dollars.