|Posted:||December 17, 2012 03:31 PM|
|From:||Senator Wayne D. Fontana|
|To:||All Senate members|
|Subject:||Co Sponsorship: Business in Our Sites Program|
|In the near future, I plan to reintroduce legislation as part of the PA Works plan that will recapitalize the very successful Business in Our Sites program. Business in Our Sites is a Commonwealth Financing Authority infrastructure investment program designed to create shovel ready sites for new development. This legislation uses $50 million of previously allocated money from underutilized program accounts combined with $25 million in revolving loan funds. The total capitalization of the fund is $75 million.
Pennsylvania’s economic recovery remains slow after the recent recession. In fact, our state’s unemployment rate has risen above the national average for the first time in six years. It is critical that we pursue policies that stimulate the economy, move business forward and create jobs even in the midst of difficult fiscal times. The PA Works legislative package is designed to create thousands of new jobs by leveraging billions in new private investment while saving the Commonwealth millions.
This legislation was SB 683 during the 2011-12 session. Previous co-sponsors included Senators Costa, Tartaglione, Solobay, Hughes, Wozniak, Yudichak, Brewster, Farnese, Kasunic, Ferlo, Washington and Blake.
Introduced as SB224