Driscoll announces $1M state grant to Morris Iron & Steel
HARRISBURG, Nov. 19 – State Rep. Mike Driscoll, D-Phila., announced a $1 million Commonwealth Financing Authority grant awarded to Morris Iron and Steel Co. for rehabilitation on its scrap metal facility.
The company recycles scrap metal then ships it by truck, rail and barge. At its waterfront property, 85% of scrap metal is shipped by barge. The project will repair portions of the south slip so that the existing structure can continue to operate and service three barges simultaneously. The company’s goal is to minimize truck traffic by shipping its metal, helping to reduce roadway traffic in the Philadelphia area.
“Businesses like Morris Iron are so important to our local economy,” Driscoll said. “Where the state can assist in helping them remain viable and supporting them in their success, we should. This is an investment for the 173rd District but the state as well. Especially during this critical time of COVID, its necessary to see these projects through to the benefit of the businesses, as well as the local economy. We can’t let the global pandemic and all that has been associated with it take us off task in assisting these projects.”
The Commonwealth Financing Authority was established in 2004 as an independent agency of the Department of Community and Economic Development to administer Pennsylvania's economic stimulus packages. The CFA holds fiduciary responsibility over the funding of programs and investments in Pennsylvania's economic growth.