MONACA, PA—Pennsylvania Real Estate Investment Trust says Shell Chemical's acquisition of a 1,000-acre former zinc smelter in Beaver County, PA, is a positive development for PREIT's Beaver Valley Mall. Shell is planning an ethane cracker plant on the smelter site.
"We are encouraged by the progress being made toward the proposed new cracker plant. This transaction creates tremendous opportunity for Beaver Valley Mall and sets the stage to completely revitalize the trade area," says Joseph F. Coradino, PREIT CEO. "As plans move forward, the construction of this multibillion dollar facility will create significant economic activity and new jobs and produce nearly $5 billion in chemical output, making Monaca a critical piece of the manufacturing and industrial activity in the region."
As proposed, Shell would utilize the petrochemical plant to chemically "crack" and convert ethane from the Marcellus Shale into polyethylene, which is used to manufacture plastic products.
According to a study by Robert Morris University's School of Business from December 2014, construction of the plant is expected to result in an increase in construction and ancillary employment by an annual average of approximately 3,700-4,600 jobs in Pennsylvania over the five-year construction period.
Once the plant is open, it is expected that over 5,000 plant and ancillary jobs will be created in Pennsylvania with approximately 400-900 in Beaver County.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
