NEWS
Economic
Recovery Funding Will Energize Bucks County Research
Park
Capstone Turbine Corporation
June 26, 2009
BRISTOL TOWNSHIP – Pennsylvania Department of
Environmental Protection Secretary John Hanger today
toured The Bridge Business Center in Bristol Township,
Bucks County, where $1 million in federal recovery
funds are being used to install a modern energy system
in a former Rohm & Haas laboratory.
Secretary Hanger witnessed a milestone in the project’s
development, as seven micro-turbines were lifted by
crane and placed on the roof of a building at 360
George Patterson Blvd., where renovations are underway
in the 50,000-square-foot, multi-tenant facility.
“This is how recovery funds are making a real difference
in people’s lives,” said Hanger. “In a community that
has suffered from an economic downturn, we see this
developer making not only a $4.5 million investment
in adaptive reuse of a building on a designated brownfield
site, but also in providing a clean, affordable and
reliable source of energy for its tenants.”
In March, Governor Edward G. Rendell announced the
$1 million Pennsylvania Energy Development Authority
grant to the Keystone Redevelopment Group to install
an energy system that uses gas-fired micro-turbines.
This project is one of the first in the state to receive
funding through the federal American Recovery and
Reinvestment Act.
Through the installation of this system, total savings
on energy costs over a 10-year period are expected
to equal approximately $2 million. A significant portion
of that savings – as much as $150,000 a year – will
come from the sale of energy back to PECO. This system
will reduce CO2 emissions by roughly 3 million pounds
per year, the equivalent of removing 318 average sized
passenger cars off the road.
The retrofitting of 360 George Patterson Blvd., the
design and installation of its sustainable energy
system, and employment by its tenants are expected
to result in the creation of 100 high-wage jobs.
“Chemical research and development is an energyintensive
business,” Hanger said. The incorporation of this
energy system is expected to make The Bridge Business
Center highly competitive in the life sciences real
estate market, and to attract tenants that will create
hundreds of additional high-wage jobs in the future.”
The Bridge Business Center is located in a Keystone
Innovation Zone. KIZs are established in communities
with institutions of higher education, and are designed
to foster innovation and create entrepreneurial opportunities.
More than 600 jobs have been lost in Bristol Township
since 2005 as employers Rohm & Haas and Jones
New York downsized.
To learn more about how the federal economic stimulus
will benefit communities across Pennsylvania, visit
www.recovery.pa.gov.
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For more information, you can download our Marketing
Brochure Package or please address inquiries to:
Keystone Companies Group, Inc.
242 Wood Street
Doylestown, PA 18901
215-348-7533 (main office)
215-348-7532 (fax)
Rob Loughery: rob@keystoneredevelops.com
Greg Ventresca: gav@keystoneredevelops.com
www.keystoneredevelops.com |
