By TAYLOR BROWN tbrown@yourmvi.com
Two projects in the Mid Mon Valley Regional Enterprise Zone will receive almost half a million in tax credits to further development, investment and job creation in the area.
The Mon Valley Alliance was recently informed that projects have been awarded tax credits through the Department of Community and Economic Development’s Neighborhood Assistance Program, recently announced by Gov. Tom Wolf.
The Mon Valley REZ, established by the MVA in 2020, includes Allenport, Carroll Township, Charleroi, Donora, Dunlevy, Fallow-field, Monongahela, Speers, West Brownsville, Belle Vernon, Brownsville, North Belle Vernon, Monessen and West Newton.
CEO Jamie Colecchi said the MVA was able to provide direct assistance to two eligible enterprise zone projects that have been awarded tax credits totaling $450,000, which will leverage an additional $4.4 million of private investment within the REZ and create an estimated 100 new jobs.
It’s estimated approximately 40 jobs will be retained.
The awards are a result of significant private investment leading to rehabilitating, expanding or improving of buildings or land and creating or retaining family sustaining jobs in the REZ.
The projects awarded include the expansion of the Morgan Excavating, LP property ($220,000) in the Speers Industrial Park and the construction of a new 60,000-square-foot industrial building in the Alta Vista Business Park in Fallowfield Township by Fratelli Partners, LP ($230,000).
The new construction by Fratelli is expected to be completed by spring.
The other project, expanding a property for Morgan Excavating, was contingent upon receiving the tax credit. “We would like to thank Wolf and his administration for their support of the approved projects in the Mid Mon Valley Regional Enterprise Zone,” Colecchi said. “The combined investments by the commonwealth and private businesses will create over $4.4 million in economic development for our communities, supporting our residents, businesses, municipalities, schools and continue the Alliance’s mission to develop a foundation of further economic growth in the Mon Valley.”
Colecchi said the recent announcement proves the Mon Valley is headed in the right direction.
TAX CREDITS • A7 FROM A3 “The awards announced today represent the continued path forward of the Mid Mon Valley and the commitment of the business community to invest in their operations, creating and retaining employment opportunities,” he said.
Since being established in 2020, the Mid Mon Valley REZ has seen a total of $3.175 million in tax credits awarded to projects that have resulted in $28.3 million in private investment. There have been almost 700 jobs created or retained as a result.