Governor Edward G. Rendell announced the investment of $5.5 million to support the expansion of Cabela's retail store in Berks County, a project that will result in 850 new jobs.
“This is an example of how Pennsylvania is using its resources to help a company expand and attract new jobs and new investment to the region,” Governor Rendell said. “For a community and business to grow, they need adequate infrastructure and public services and we are investing in the future.”
The Governor added that the state's commitment is attracting nearly $2.1 million in private sector investment.
“Cabela's has already become an economic engine for the region, drawing millions of outdoor enthusiasts to Bucks County from throughout the East Coast,” the Governor said. “Those visitors are spending money here and helping create new opportunities.”
In the past two years, the state has invested more than $46 million in community and economic development projects in Berks County, helping to create and retain more than 11,600 jobs and leveraging $82 million in private sector investments.
Governor Rendell presented the Hamburg Municipal Authority with a $3.89 million PennWorks loan and a $687,250 PennWorks grant for the upgrade and expansion of the Pine Street Pump Station to serve the intersections of Interstate 78 and Route 61 in Tilden Township. The authority currently provides service to Cabela's Retail Inc.
The funds will be used to assist Hamburg with expanding its treatment plant to support plans for further development of the area surrounding Cabela's. The 350,000 square foot expansion project will attract hotels, a travel center, restaurants and other commercial entities bringing 850 new jobs to the area.
The $200 million Water Supply and Wastewater Infrastructure Program, or PennWorks, was created by Governor Rendell in 2004 and provides single-year or multi-year grants and loans to municipalities and municipal authorities, industrial development corporations and investor-owned water or wastewater enterprises for projects that construct, expand or improve water and wastewater infrastructure related to economic development.
Governor Rendell also presented the first funding ever awarded through the Infrastructure and Facilities Improvement Program (IFIP) to the Berks County Industrial Development Authority, on behalf of Cabela's Inc. The IDA received $930,000 for debt service on federally taxable tax incremental revenue bonds and will receive $930,000 for the next nine years. The bonds were issued by the IDA to primarily finance the initial Cabela's retail project. Approximately $1 million of the IFIP funds will support the expansion project.