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WORLDCLASS PROCESSING RECEIVES $724,500 IN STATE FUNDS

       WORLDCLASS PROCESSING RECEIVES $724,500 IN STATE FUNDS
    HARRISBURG, Pa., Nov. 21 /PRNewswire/ -- Gov. Robert P. Casey today announced a $724,500 state grant to help a Beaver County steel processor build a $26.7 million steel processing plant in the Port Ambridge Industrial Park that will create 147 jobs.
    Beaver County will use the Business Infrastructure Development (BID) grant to construct an electrical power distribution system and install a rail siding to serve WorldClass Processing Inc.  The company, which processes hot-rolled steel coils, is renovating three buildings on a 16.5-acre industrial park, site of the former USS American Bridgeworks.
    The Port Ambridge Industrial Park, which is being developed by USX Realty Development, is part of the state Department of Commerce's Regional Opportunity Program.  In the past three years, the department has invested more than $8.3 million in the redevelopment of the site. Previously, WorldClass Processing received a $2 million loan through the Pennsylvania Industrial Development Authority (PIDA) to acquire and renovate the three buildings on the site.
    "Through our Regional Opportunity initiative and the efforts of the Governor's Response Team, we've helped Beaver County convert an idle industrial site into an industrial park with a state-of-the-art steel processing plant," Casey said.
    WorldClass Processing, which purchased the site for $2.8 million, is spending $3.5 million to improve and renovate the three buildings and $20 million to equip the buildings.
    -0-                     11/21/91
    /CONTACT:  Ron Jury of Commonwealth News Bureau, 717-783-1132/ CO:  Gov. Robert P. Casey; WorldClass Processing Inc. ST:  Pennsylvania IN:  MNG SU: DM -- PG014 -- 6037 11/21/91 16:05 EST
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Publication:PR Newswire
Date:Nov 21, 1991
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