Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the debt and equity markets, click here.)

ERIE, PA-Gov. Ed Rendell has provided an aggregate of $17 million in grants from the Redevelopment Assistance Capital Program to fund five projects here. The largest portion of the funding, $6.5 million, will help complete the $100-million Erie County Convention Center, which calls for a 135,000-sf exhibition facility, a 200-room hotel and a 300-vehicle parking facility along the Downtown bayfront.

Another $4 million in RACP funds have been awarded for development of the Erie Technology Incubator at Gannon University. This is a joint project between the university and the Greater Erie Industrial Development Corp. designed to house high-tech startup companies.

The Erie Municipal Airport Authority and Erie Shipbuilding LLC each received $2.5 million. The airport authority plans to convert two former airplane hangers into a 40,000-sf international trade center to handle air, rail and ground cargo distribution. The shipbuilding firm is expanding operations at the former Litton Industries’ shipyard and dry dock in order to expand its fleet by five to six new vessels within five years.

Another $1.5 million supports a $9-million expansion of the Erie Art Museum. The project calls for linking the Old Custom House and the Museum Annex along State Street to create a new major gallery, several smaller ones and public meeting spaces.

This latest round of state funding comes on top of more than $190 million granted to Erie County within the past four years. The projects, according to a statement by the governor, will produce jobs and “bring people back to Downtown Erie.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.