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Westinghouse Electric Breaks Ground on New Headquarters in Pennsylvania

CRANBERRY WOODS, Pa. (August 23, 2007) — The state’s financial package consists of a $2.25 million Pennsylvania Industrial Development Authority loan, a $1.65 million Opportunity Grant, a $1.25 million Infrastructure Development Program grant and $860,000 in Customized Job Training funds.

  [ 8/23/2007 ]  By: NEWS BRIEFS   Related Link...  Print This Article  Reprint/License This Article  

Westinghouse Electric Co. recently broke ground on a new headquarters and technology center in Butler County, Pa.

“Westinghouse’s commitment to create at least 931 new jobs over the next five years proves the company recognizes the quality of Pennsylvania’s work force,” said Pennsylvania Gov. Ed Rendell. “Upon completion of this project, Westinghouse will have approximately 4,400 employees in western Pennsylvania.”

Strategic development areas legislation gives the Governor the power to create special zones that offer tax incentives to businesses dedicated to creating new jobs and investing their resources in the areas that become SDAs. Each SDA must have the full support and endorsement of the affected municipalities.

Companies operating in SDAs must own or lease the property in question and create or maintain 500 jobs within three years or make a capital investment of at least $45 million.

Two Westinghouse properties in Butler and Westmoreland counties have received strategic development designation.

Westinghouse’s $200 million headquarters will be constructed in Cranberry Woods and consist of three wings totaling 800,000 square feet. It will serve as the Westinghouse headquarters and technology center for the worldwide hub of Westinghouse Electric Company, the global leader in commercial nuclear power.

“George Westinghouse first established our company’s roots in southwestern Pennsylvania in 1886 with the founding of The Westinghouse Electric Company – the name that we are privileged to carry to this day,” said Steve Tritch, president and CEO of Westinghouse. “For many generations since then, Westinghouse has contributed to the economic and social health and vitality of this region and we are proud to continue the legacy of our founding father.”

Westinghouse’s $200 million expansion project was coordinated through the Governor’s Action Team, which consists of economic development professionals who serve as a single point-of-contact for businesses considering locating or expanding in Pennsylvania.

The financial package consists of a $2.25 million Pennsylvania Industrial Development Authority loan, a $1.65 million Opportunity Grant, a $1.25 million Infrastructure Development Program grant and $860,000 in Customized Job Training funds.

The company is also eligible to apply for a $10 million loan through the Citizens Job Bank program, which offers low-interest loans to companies that commit to creating or expanding jobs in Pennsylvania.

Westinghouse, a group company of Toshiba Corporation, supplied the world’s first pressurized water reactor in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately half of the world’s operating nuclear plants, including 60 percent of those in the United States.

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