DOYLESTOWN − August 1, 2019 − State Senator Steve Santarsiero (D-10) and state Representative Wendy Ullman (D143) announced the award of a $500,000 state grant to the Pennsylvania Biotechnology Center of Bucks County (PABC) through the Redevelopment Assistance Capital Program (RACP), a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects.
The funding from this RACP grant will be used to build new instructional labs, as well as meeting and teaching spaces. It will bring the current facility up-to-date with much needed infrastructure improvements and keep the PABC a modern and competitive high-tech business incubator that attracts the brightest minds developing the most innovative technologies.
“This additional investment will ensure the Pennsylvania Biotechnology Center remains at the forefront of scientific innovation and discovery,” Sen. Santarsiero said. “In terms of job creation and economic development, the regional impact of the PABC cannot be overstated. The new offices and equipment being provided by this generous grant will significantly bolster the groundbreaking work being done in the field of biotechnology right here in Bucks County.”
“I want to thank Governor Wolf releasing these funds to this project,” Rep. Wendy Ullman said. “It’s critical that our state government supports projects like these so that Pennsylvania can develop into a center of innovation in the sciences and industry. This RACP funding is an investment in our future.”
“This is fantastic. With this investment, and I do recognize this as an investment, we will be able to discover even more innovations in science and medicine through entrepreneurship and training, then we had imagined. Expect big things from this place,” said Timothy M. Block, President of the Pennsylvania Biotechnology Center. “The confidence shown in us by our representatives and the Governor, on behalf of the Commonwealth, is motivational to us, in itself.”
RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity. RACP projects are state-funded projects that cannot obtain primary funding under other state programs.
To learn more about RACP projects and grants, visit the Pennsylvania Office of the Budget website.