(Read more on the industrial market.)
SMITHFIELD, PA-Johnson Matthey Inc. has selected a site near the planned I-68 expressway here in Fayette County for construction of an 118,000-sf manufacturing plant. The company is a London-based specialty chemicals firm with operations in 30 countries, including North America regional headquarters in Wayne.
The estimated construction cost of the new facility is $43 million. Working with the Governor's Action Team, the Fay-Penn Economic Development Council has arranged for a $3.5-million incentive package. It includes a nearly $2.3-million loan from the Pennsylvania Industrial Development Authority, an $825,000 opportunity grant, a $300,000 infrastructure development program grant and $200,000 in customized job training funds. The land is a designated Keystone Opportunity Zone, which forgives state and local taxes for up to 10 years.
The US Environmental Protection Agency has called for stricter heavy-duty diesel emission standards by Jan. 1, 2010. This facility will manufacture control catalysts that reduce emissions of nitrogen oxygen from heavy-duty diesel vehicle exhaust and expects to produce more than one million such units a year. It will be fully operational by the end of 2009 and employ 110 within the next three years.
"There was a lot of competition for this project, which was an important win for the commonwealth," says Gov. Ed Rendell in a statement. Noting that the company is retaining 627 jobs at its Wayne location, he adds, "Johnson Matthey's future North American growth will take place at this new facility. This investment will also protect the state's environment."
"This new facility in Fayette County will be an important addition to our manufacturing infrastructure," says Neil Carson, CEO of Johnson Matthey, in a press release from its London office. A call to the company's Wayne location was not returned by deadline.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.