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FOR IMMEDIATE RELEASE |
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State Rep. Vince Biancucci |
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Biancucci proposes $100 million expansion to economic stimulus program
HARRISBURG, March 10 – State Rep. Vince Biancucci, D-Beaver, announced today that he's sponsoring legislation to expand one of Pennsylvania's most successful economic stimulus programs – Business in Our Sites.
Biancucci's legislation would add $100 million to the program, which the legislature established in 2003 to clean up polluted industrial sites and make them "shovel-ready" for new businesses looking to move in.
Business in Our Sites is administered by the state Department of Community and Economic Development, which currently has a waiting list of projects in need of $50 million. Biancucci's proposal would allow those projects to start this year.
"As the national economy faces a major slowdown this year, state government must invest in our own businesses to ensure jobs are being retained and created," Biancucci explained. "A $100 million expansion for Business in Our Sites would help protect the progress we've made in Pennsylvania and pave the way for immediate new business construction."
Biancucci's legislation is a major component of Gov. Ed Rendell's 2008-09 proposed state budget's $2.3 billion economic stimulus plan – Protecting Our Progress. Through a wide array of tax rebates and infrastructure investment, the proposal would help create jobs and revitalize local economies across Pennsylvania.
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