This week, the Bucks County Industrial Development Authority (BCIDA) was awarded by the Pennsylvania Commonwealth Financing Authority a $4.5 million low interest loan, matched with $500,000 in local funding to acquire, improve, and sell/lease parcels for advanced manufacturing, R&D, life science and related uses at a former Resource Conservation and Recovery Act (RCRA) site in Upper Bucks County.
The project is aimed at facilitating new and expanded business investment and job creation and retention, by positioning the site back into productive use. "There is a shortage of assembled and developable sites for these uses within the county," Mary Smithson, Chairman of the Bucks County Industrial Authority observed. "Putting this land back into productive use will generate hundreds of new jobs and millions in new private investment." she concluded.
As envisioned, the nine parcels of four to five acres each will be prepared with a loop road access and infrastructure improvements including storm water management, water and sewer facilities, as well as lighting and landscaping. "We are very excited at the possible opportunity to develop the AMETEK site," said Robert Rudick, President, Sellersville Borough Council. "The hope of new jobs for the Sellersville area will provide a big boost for the local economy."
This roughly 44-acre parcel is located at the former AMETEK site in Sellersville Borough, Bucks County, an area of the county that has experienced job losses and where a major employer (TEVA, Inc.) has announced they are closing in the next three years with a loss of nearly 300 jobs. Robert G. Loughery, Chairman of the Bucks County Commissioners, hailed this new initiative stating that he is proud of the new partnerships the BCIDA has formed. "Working with the County of Bucks and the local municipality, which actively supports this initiative, the Bucks County Industrial Development Authority will acquire the site, secure land development approvals, and subdivide the site into multi acre parcels for sale and/or lease," he said.
Again, according to Commissioner Loughery more than 850,000 square feet of new buildings will be able to be constructed, creating as many as a 1,000 new and retained family sustaining jobs over the next 5 to 7 years.
Contact Pete Krauss, Executive Director, Bucks County Industrial Development Authority at jpkrauss@buckscountyida.com or call 267-880-6071