Reading & Kutztown Economic Development Projects Win State Funding

          Harrisburg, October 17, 2007 -- State Senator Michael A. O’Pake announced that the Commonwealth Financing Authority (CFA) today approved funding totaling $1.16 million for two economic development projects in Berks County. 
          According to Senator O’Pake, the CFA approved $1 million in funding for the Greater Berks Development Fund (GBDF) to support the development of the GoggleWorks Shops in Downtown Reading, which will include one chain restaurant and four units for retail businesses.  Senator O’Pake noted that the project is a build out of a multi-use facility, complimenting the GoggleWorks Center for the Arts and is located in a Keystone Opportunity Zone, A Community Action Team Community, a Weed and Seed area, and part of the Reading Downtown Improvement District.  This project is the third project in GDBF’s plans to revitalize the Initiative for Greater Reading Corridor (ICGR) using assistance from the Building PA Program.
          “This project is another important component of efforts, spearheaded by Al Boscov, to revitalize Downtown Reading,” said Senator O’Pake.
          Separately, the CFA also ratified funding in the amount of $160,000 for the Greater Berks Development Fund through the Small Business First Industries Agriculture Program for the  Kutztown Produce Auction.  According to Senator O’Pake, the funding will be used to purchase 12 acres of land located along Oak Have Road near Fleetwood.  The primary business of the Kutztown Produce Auction is the operation of a wholesale auction business.
          “These projects will provide major boosts to two of our most important industries—tourism and agriculture,” continued Senator O’Pake.  “They are prime examples of the positive impact partnerships between state government and the private sector are having on our local and regional economies.”
                                                                        ###