Madden: $565 thousand state grant to Pocono Mountain Industrial Park Authority for local project and more jobs
MONROE, July 14 – State Rep. Maureen Madden, D-Monroe, announced today that a $585,531 Commonwealth Financing Authority’s Pipeline Investment grant has been awarded to the Pocono Mountain Industrial Park Authority.
The funding will be used to extend a natural gas pipe through the Pocono Mountain Corporate South in Coolbaugh Township and the Borough of Mount Pocono. The project is expected to create 100 jobs.
“This project is crucial to spur economic development in the 115th district,” Madden said.
The pipeline extension provides us the ability to upgrade our infrastructure, generating further business opportunity in Coolbaugh Township.”
Madden said the authority plans to extend natural gas to serve lots 24-27 in the Pocono Mountain Corporate Center South which encompasses 59 acres.
In addition, the project is expected to attract $25 million in private investments. The total project cost is over one million dollars.
The Commonwealth Financing Authority (CFA) was established in 2004 as an independent agency of the Pennsylvania Department of Community and Economic Development (DCED) to administer Pennsylvania’s economic stimulus packages.