The monies were awarded to Foundation to assist the company’s plans to expand its Cumberland and Emerald mines, projects that will create 100 new jobs in the next three years and provide job security for its 1197 existing workers.
The $US800,000 funding package includes a $US200,000 Opportunity Grant, Job Training Assistance money in the amount of $US200,000, and Job Creation Tax Credits totalling $US400,000. Foundation is also eligible to apply for an additional $US2.5 million in the form of loan monies from Citizens Bank Job Bank Program. The total cost of the projects is more than $US100 million.
“South-west Pennsylvania has the potential to become the commonwealth's most successful region,” said Rendell. “This potential is apparent by the growing number of businesses like Foundation Coal that are committing their time, effort and resources to this area. Creating jobs and investing in our communities shows companies in other states this is a place where people want to do business and raise families.”
Foundation’s new job opportunities will be made up of white caps (untrained workers), foremen, maintenance workers and labourers. As part of its expansion project, the company will train all new employees, as well as some of its existing ones.
“The grant and tax credits envisioned under this development package creates a win-win situation,” said Roberts. “It enables Foundation Coal to plan for future business growth and support the surrounding communities’ needs for future job development and economic expansion as the nation's demand for coal and energy resources continue to rise.
“The communities and residents of southwestern Pennsylvania are the real winners because they will directly realise the positive impacts of increased employment and training opportunities with Foundation Coal in the coal mining industry.”
GAT, comprised of economic development professionals reporting directly to governor Rendell, worked alongside Foundation Coal on its mine expansion plans. Foundation Coal, the fifth largest US coal producer, and its subsidiaries own 13 mines, employ approximately 2700 people and produce 67 million tonnes of coal per annum.
