County receives 50 percent of locally generated revenue
TOBYHANNA – The second round of gaming fund revenues generated by Mount Airy Resort and Casino and distributed through the Monroe County Industrial Development Authority (MCIDA) will fund 11 major health care, infrastructure, and economic development initiatives in Monroe County, along with a group of community improvement projects.
A new building to house Pocono Medical Center’s cancer center will receive $2 million in construction funding assistance and the completion of Pocono Mountains Municipal Airport’s runway expansion will receive $1 million.
In all, 18 projects will receive nearly $6.25 million in funds generated by the Pennsylvania Horse Race and Gaming Development Act, or Act 71, which set up a “local share assessment account” (LSA) and required Pennsylvania’s Department of Community and Economic Development to distribute money that is generated by licensed gaming facilities to support community and economic development projects and mitigate the impact of gaming activities.
“This round of LSA funding has some groundbreaking components,” says MCIDA Executive Director Chuck Leonard.
Leonard was referring to more than $2 million for sewage upgrades, engineering studies to investigate gas line expansion, and construction and permitting projects expected to enhance the appeal of two county owned corporate and industrial parks, Pocono Mountains Corporate Centers East and South.
“Getting more office and industrial space at PMCC East will help us create somewhere between 100 and 150 jobs,” he says. “And having preliminary footprints approved for some of our other lots at East and South will help expedite approvals for the types of companies that have shown interest in coming here, but had been put off by the specter of a cumbersome permitting process.”
The $6.25 million distribution represents only 50 percent of Mt. Airy’s contribution to the local share account. Commonwealth law mandates that Monroe County must share gaming fund revenues equally with neighboring counties.
The Monroe County Industrial Development Authority is part of the Pocono Mountains Economic Development Corporation, a non-profit economic development corporation dedicated to creating jobs for Monroe County residents, expanding the county’s tax base and attracting new investment with the direct support of the Monroe County Commissioners. More information on economic development in Monroe County can be found at www.pmedc.com
Call PMEDC at (570) 839-1992 for more information.
MCIDA received LSA funding for the following Monroe County projects:
- $2,040,000 to Pocono Medical Center for construction of a new 58,000 square foot building in East Stroudsburg. The building will house PMC’s new cancer center.
- $1.05 million for the Pocono Mountains Regional Airport’s runway expansion project
- $659,940 for the Pocono Mountains Industrial Park Authority for studies, design, and engineering services in support of proposed gas line expansion.
(Source: PMEDC)
