The Greater Berks Development Fund got nearly $4 million more in state funding to buy and develop 90 acres in Bern Township into an industrial park.
The funding is in addition to the $3.75 million it received from the Pennsylvania Industrial Development Authority this month.
In this latest round, the Commonwealth Financing Authority approved the GBDF for a $2.3 million loan and a $1.4 million grant.
The proposed industrial park is adjacent to the Reading Regional Airport and within a mile of the signalized intersection of routes 222 and 183. The land is in the Greater Reading Enterprise Zone.
The GBDF is focusing on making more shovel-ready industrial sites available in Berks County to spur economic development.
“In order to remain competitive with other regions in the commonwealth and beyond, it is critical that we have an adequate inventory of industrial sites that are ready to go,” state Sen. Judy Schwank said in a statement.
“I was pleased to advocate for the approval of state assistance for this project and commend our local economic development professionals for putting together competitive and successful applications for funding.”
State Rep. Barry Jozwiak said the industrial park would help businesses to expand and hire new workers.
Brian L. Potts, Bern Township manager, said the increased property values will enhance the township’s revenue and help homeowners by reducing their property taxes.