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FOR IMMEDIATE RELEASE |
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State
Rep. Mike Carroll |
  
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Carroll: CenterPoint Commerce and Trade Park to receive significant funding
HUGHESTOWN, Oct. 9 – State Rep. Mike Carroll, D-Luzerne/Monroe, announced Thursday that funding for construction on Phase II of the CenterPoint Commerce and Trade Park East has been awarded by the state's Commonwealth Financing Authority.
The funding is being provided through the Business in Our Sites program, and includes a grant of $3.75 million and a matching low-interest loan of $3.75 million. The interest rate on the loan is 3 percent for 20 years.
Funding will be used for site preparation, excavation and the extension of utilities to the park.
The Phase II project site is located on more than 329 acres of formerly mine-scarred land in Pittston and Jenkins townships in Luzerne County.
"Our community will benefit in several ways from transforming this former eyesore," Carroll said. "In the end, it will be a fantastic example of how we can restore the scarred land that remains from our mining heritage into productive property for our industries of the future.
"Plus, it is projected that 3,000 jobs will be created as a result of Phase II of this development; that is great news for our community, and is especially reassuring in this tight economy."
The total cost for the project exceeds $25 million. Additional money for the project has been provided by other state and private funds.
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