(HARRISBURG) – Parea Biosciences was awarded a $3,000,000 grant through the Redevelopment Assistance Capital Program (RACP), according to Senator John R. Gordner (R-27) and Representative Kurt A. Masser (R-107).
The funds will be used for the construction of two 2,500 sq.-ft. greenhouses to increase production of State Licensed Medical Marijuana at the facility. The HVAC system will be overhauled to handle the increased growing area. It is anticipated that an additional 12 jobs will be created by these improvements.
“I want to recognize Parea Biosciences for its hard work on this important project and for a successful application,” said Senator Gordner. “Further, I am pleased that Governor Tom Wolf saw the merit in these actions and authorized the release of key RACP funds.”
“This is a great project that will result in more life-sustaining jobs coming to Coal Township,” added Representative Masser. “Parea Biosciences is a true Pennsylvania start-up company and it is essential that they succeed against their larger nationally-based competitors.”
The Redevelopment Assistance Capital Program (RACP) is a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects. RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity. RACP projects are state-funded projects that cannot obtain primary funding under other state programs.
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