|Posted:||March 2, 2015 09:45 AM|
|From:||Senator Wayne D. Fontana|
|To:||All Senate members|
|Subject:||Business in Our Sites Program|
|In the near future, I plan to reintroduce legislation that will recapitalize the very successful Business in Our Sites program. Business in Our Sites is an 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.
We need successful programs in place that will get our economy back on track again after the recent recession. Pennsylvania has gone from one of the top 10 states in job growth in 2010 to 50th in December 2014. 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 bill is designed to not only create jobs by leveraging new private investment but at the same time save the commonwealth money.
This legislation was introduced as SB 224 during the 2013-14 session. Previous co-sponsors included Senators Tartaglione, Yudichak, Ferlo, Farnese, Williams, Hughes, Brewster, Kitchen. Costa, Blake and Boscola.
Introduced as SB673