Corbett Administration Announces Opening for New Round of Economic Growth Initiative Submissions
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SOURCE Pennsylvania Office of the Budget
HARRISBURG, Pa., March 15, 2013 /PRNewswire-USNewswire/ -- Governor Tom Corbett today announced the opening of the next Economic Growth Initiative submission window. Project plan submissions will be accepted through close of business on Monday, April 15, 2013.
The Economic Growth Initiative, also known as the Redevelopment Assistance Capital Program (RACP), is an administration-sponsored economic development program that provides local communities with grants for the acquisition and construction of economic, cultural, civic, and historical improvement projects.
Last month, the Corbett Administration announced the award of 54 new Economic Growth Initiative grants. These projects, totaling nearly $125 million, will create or retain more than 56,000 jobs in 28 counties across the state.
Last year, Corbett reformed the state's method of funding redevelopment assistance capital projects with a significant redesign, making the process more transparent and objective. Projects are now selected based upon their job-creation potential, their economic impact, as well as their viability and construction readiness.
For a full listing of submission criteria and for more information, visit the Budget Office online at www.budget.state.pa.us and select the Redevelopment Assistance Capital Program link.
Media contact: Jay Pagni, 717-265-8067
Editor's note: For statutory and legislative purposes, the program will continue to be known as the Redevelopment Assistance Capital Program.
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