Salisbury: $6 million secured to expand Braddock Avenue industrial complex at former Westinghouse site
Will fund additional development at RIDC Keystone Commons
Rep. Abigail Salisbury July 24, 2024 | 9:52 AM
BRADDOCK, July 24 – Combined grant and loan funding totaling $6 million will support new work at the former Westinghouse Electric Corporation’s Braddock Avenue site so the industrial park can attract and support more business tenants, state Rep. Abigail Salisbury announced today.
Salisbury, D-Allegheny, said the funding to Regional Industrial Development Corporation of Southwestern PA – secured through the Commonwealth Financing Authority under the state’s Business in Our Sites program – includes a $2.4 million grant and a $3.6 million low-interest loan.
“Over the years, RIDC has developed the site of the old Westinghouse company complex on Braddock Avenue so that Keystone Commons now houses more than 40 businesses employing more than 1,100 workers,” Salisbury said. “And the site – which attracts both manufacturing and tech companies – has the potential for additional development.
“The new funding will allow RIDC to continue development efforts by demolishing a dilapidated building located next to the West Shop Industrial Mall and redeveloping that space for commercial use. The project will create an estimated 50 new jobs and broaden the park’s capacity to attract and support new commercial tenants. It’s exciting work that will result in new employers, new job opportunities and, ultimately, more money coming back to support our local economy.”
Salisbury said the total project cost is $6.19 million and that RIDC will contribute approximately $190,000. The loan carries an interest rate of 3% for a term of 20 years.
The Business in Our Sites program is administered by CFA and the Department of Community and Economic Development and provides funding for site development activities required to make a site shovel-ready to attract new and expanding businesses. More about the program is available here: https://dced.pa.gov/programs/business-in-our-sites-grants-and-loans-bos/.