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Pennsylvania Project Wins National 'Economic Development Deal of the Year' Award |
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From PR Newswire: Government and Policy: A vital job creation and retention project in southwestern Pennsylvania won the Economic Development Deal of the Year award from a national business magazine for business site selection executives, the Department of Community and Economic Development said today. The Westinghouse Electric Company project in Butler County won the Gold medal in Business Facilities magazine's EDDY awards for 2007. The project included a $6 million funding offer to the company from DCED to lay the groundwork for the $200 million project. The Governor's Action Team, a group of economic development professionals who serve as a single point of contact for businesses that are considering locating or expanding in Pennsylvania, coordinated the efforts to convince Westinghouse to remain, despite aggressive incentive offers from several competing states. Westinghouse has pledged to create at least 931 jobs over the next five years, bringing its workforce in the area to about 4,400. The Gold medal EDDY award comes on the heels of Pennsylvania's fourth-place ranking in "insourcing" -- the number of jobs created in-state by companies based abroad -- by the Organization for International Investment, an association of U.S. subsidiaries of foreign-based companies. "We're working Pennsylvania into the global economy from both sides of the equation -- helping Pennsylvania companies do business abroad and creating the right climate for foreign companies to locate or expand here," said DCED Secretary Dennis Yablonsky. "And because many of our economic development stimulus programs are just beginning to kick in, we know the best is yet to come." For more information about Pennsylvania's economic development initiatives, go to http://www.newpa.com or call 1-866-466-3972.
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