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NORTHAMPTON, PA-Bethlehem-based JG Petrucci Co. acquired a 12-acre parcel at the intersection of Route 329 and Horwith Drive here for build-to-suit development. It is the second parcel the company has acquired in a Keystone Opportunity Zone, which forgives local and state taxes for as many as 15 years.

Petrucci did not disclose the price of the land, but estimates the total project cost for full build-out will be $10 million. “We’re confident that the reduced taxes combined with the location will quickly bring industry to the area,” says Tom Shaughnessy, the company’s director of business development, who cites light manufacturing, warehouse and distribution as potential clients.

The land is less than 20 minutes from Allentown and offers easy access to major highways and the Lehigh Valley International Airport. A year ago, Petrucci designed a turnkey package nearby for EWMI Inc., a company that specializes in environmental compliance technology. Shaughnessy says the company could break ground on the new parcel within 90 days of submitting a plan.

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