“As a family-owned business, we’re able to invest in the future we envision.”

“It’s yet another sign that Pennsylvania is open for business, and this Administration is committed to our economic competitiveness plan.” 

“This support empowers us to proceed with restoring a building that holds deep significance for the city of Scranton. This project represents more than construction — it’s about creating jobs, strengthening our regional economy, and breathing new life into downtown.”

Harrisburg, PA – This week, Governor Josh Shapiro announced millions in new economic development investments across the Commonwealth — to make life better for Pennsylvanians and deliver results for our communities — creating hundreds of good-paying jobs and benefiting communities in rural, urban, and suburban areas alike.

Through the Redevelopment Assistance Capital Program (RACP), the Shapiro Administration has committed $600 million to support over 400 projects across Pennsylvania, building on more than $3 billion in private sector investments that the Governor’s team has secured in key industries like agriculture, energy, life sciences, manufacturing, and technology. Governor Shapiro has streamlined the RACP application process – creating an easier-to-use website, reducing the number of sections in the applications, and enabling applicants to access a new e-grants system – making it easier for businesses to secure funding for transformative projects that create jobs and boost local economies.

The projects, which reflect Governor Shapiro's commitment to economic growth, job creation, and infrastructure improvements, include:

- Fidelity Bank Headquarters Expansion: $5 million RACP investment in Fidelity Bank’s new headquarters in downtown Scranton. This funding will help revitalize the historic Scranton Electric Building, bringing 165 professional jobs to the area and preserving a Scranton landmark. The investment supports the Shapiro Administration’s Economic Development Strategy, which focuses on strengthening Main Streets and creating economic opportunities in Pennsylvania’s commercial corridors. This project received $4 million in previous RACP funding – bringing the Commonwealth’s total investment to $9 million.

- Joseph Machine Company Expansion: $2 million RACP investment to support the family-owned company’s 150,000-square-foot facility expansion in Dillsburg, York County. This expansion will create 35 highly skilled jobs immediately, with the potential for up to 150 additional positions upon completion. The project strengthens the Commonwealth’s manufacturing sector and underscores the Governor’s commitment to sustainable, family-supporting jobs.

- Powerex Inc. Manufacturing Expansion: $1 million investment in Powerex Inc., a leading semiconductor supplier in Westmoreland County. This investment supports Powerex’s $14 million expansion project, which will create 25 new jobs and retain 215 existing positions at its Youngwood facility. As one of the last vertically-integrated power semiconductor facilities in the U.S., Powerex’s growth will help Pennsylvania lead in the semiconductor industry and support the defense, aerospace, and energy sectors.

From day one, Governor Shapiro has worked to make Pennsylvania more economically competitive, attracting businesses and creating jobs across the Commonwealth — allowing Pennsylvanians the freedom to chart their own course and the opportunity to succeed.

Read what elected officials and community and economic development leaders are saying about these economic development investments:

Daniel J. Santaniello, President & CEO, Fidelity Bank: “We’re truly honored to receive this vital state funding and extend our sincere gratitude to Governor Shapiro for his dedication to revitalizing communities like ours. This support empowers us to proceed with restoring a building that holds deep significance for the city of Scranton. This project represents more than construction — it’s about creating jobs, strengthening our regional economy, and breathing new life into downtown. We’re privileged to contribute to an effort that will leave a lasting impact on the heart of our community.”

Brian Cali, Chairman of the Board, Fidelity Bank: “Thank you, Governor Shapiro, for your vision, your partnership, and your trust in us to collaborate with the Commonwealth in bringing this historic building back to life. We knew we could honor its historic presence while transforming it into something truly special. I promise you, Governor, on behalf of our board, our team, and everyone who works with us, we will make you proud of the trust you've placed in us to revitalize this landmark for the community.”

Mayor Paige Cognetti: “We’re getting things done — lots of things done — and that’s because of our Governor, our delegation, and our county commissioners. We’re especially grateful to Fidelity for sticking with this project. We started working on these RACP grants within my first two weeks in office, and today’s commitment ensures this project will happen. The Scranton Electric Building is truly the linchpin. We see incredible investment and ribbon-cuttings with our small businesses, but culturally and emotionally, Scranton isn’t quite where it could be without this building’s revitalization. With this project, we are truly on the right track.”

Senator Marty Flynn: “This project is the perfect blend of preservation and progress. By restoring the Scranton Electric Building, we’re not only safeguarding a piece of our city’s history but also fostering a thriving downtown. I’m excited to see Fidelity Bank lead the way in transforming this architectural gem into a hub for Scranton’s future.”

Representative Kyle Donahue: “With this $5 million investment, Fidelity will breathe new life into the heart of Downtown Scranton. This project will inject new energy into our city by creating economic activity, generating tax revenue, and attracting people to live, work, and shop in our revitalized downtown.”

Representative Bridget Kosierowski: “Fidelity Bank's future in our downtown shines as brightly as the Electric City sign when lit for all of Scranton to see. Bringing this level of investment to our community, with the support of our entire Northeast Delegation, Senator Marty Flynn, and Governor Shapiro, is truly an honor. Projects like this represent our commitment to serving the people of northeastern Pennsylvania — helping great institutions drive prosperity and success in our communities for generations to come."

Commissioner Matt McGloin: "It is always an honor to welcome Governor Shapiro to Lackawanna County, where his support for our community always shines through. This $5 million investment via the RACP grant not only preserves the historic Scranton Electric Building but also provides Fidelity Bank the space they need to thrive, ensuring a prosperous future for our local economy."

Anthony Pigliacampo, CEO, Joseph Machine Company: “As a family-owned business, we’re able to invest in the future we envision. At Joseph, we’ve consistently invested in our people, processes, and technology, averaging 20 percent growth for over 15 years. The RACP funding will help us scale even further — allowing us to expand our facility, take on larger automation projects, and add new capabilities that benefit not just Joseph, but the entire Pennsylvania manufacturing ecosystem, advancing our mission to empower U.S.-based manufacturers.”

Tom Vajdic, Director of Sales & Marketing, Joseph Machine Company: "Joseph Machine is a team of talented individuals who share common goals and core values. This company gave me the freedom to innovate and see my ideas turn into real products that make a tangible difference for our customers. In my time here over 23 years, I’ve had the privilege to work with leading industry partners, helping to shape the future across a variety of sectors. From window and door manufacturers in the housing market to electric vehicle makers and data centers, our reach is broad, and our impact is meaningful."

Kevin Schreiber, President & CEO, York County Economic Alliance: “This investment will drive JMC’s expansion forward, doubling their workforce with the full build-out, leveraging nearly $11 million in private investment, and strengthening our manufacturing industry here in York County. It’s yet another sign that Pennsylvania is open for business, and this Administration is committed to our economic competitiveness plan — creating new careers, expanding industries, and ensuring manufacturing in Pennsylvania continues to grow right here at home.”

Joseph Wolf, CEO, Powerex: “We’re grateful for Governor Shapiro’s administration and all of our state and local partners for their support, which is enabling small companies like ours to invest in equipment and expand production. With this funding, we’ll strengthen our production capabilities and create new jobs, offering growth and advancement opportunities for our employees. This investment empowers us to meet increasing demand with Pennsylvania-made products, building a stronger future for our team and community."

Stefani Pashman, CEO, Allegheny Conference: “Public-private partnerships are critical to growing the Pittsburgh region. Together, we have been and will continue to identify opportunities to leverage local, state, and federal relationships to support existing companies and attract strategic investments within our region’s key sectors — advanced manufacturing, energy, life sciences, and robotics and AI. Investments in companies like Powerex showcase how southwestern Pennsylvania is positioned to capture investments and ensure winning outcomes for investors across the region and beyond.”

Sean Kertes, Chairman, Westmoreland County Commissioners: “This is great news for Powerex, with companies across the county, state, and nation looking to source domestically built components. Manufacturing is in our DNA here in Westmoreland County. So, of course, we’re thrilled that Powerex is expanding and reshoring jobs as it builds a new semiconductor fabrication line.”

PA DCED Secretary Rick Siger: “Since day one, Governor Shapiro and our Administration have been laser focused on sending a strong message that Pennsylvania is open for business. Our investments create good jobs for our workers and boost key industries like technology and manufacturing that are part of our Economic Development Strategy. We’re doubling down on critical investments that support the strategy to provide our Commonwealth with the greatest opportunities to succeed.”

See what Pennsylvanians are reading about these recent economic development investments:

Fidelity Bank Headquarters Expansion

WBRE: Shapiro announces major revitalization project in Scranton

WNEP: Governor Shapiro's administration gives millions in grant money to Scranton business

WOLF: Fidelity Bank to expand HQ, revitalize downtown Scranton with $25M project

The Times-Tribune: Gov. Josh Shapiro, lawmakers, stakeholders convene at Scranton Electric Building to announce $5 million toward renovation

CNHI News: Shapiro says ‘Main Streets’ key to healthy Pa. economy

Joseph Machine Company Expansion

ABC 27: Gov. Shapiro announces $2 million investment in York County company

Central Penn Business Journal: York company gains investment from Shapiro Administration for jobs, manufacturing

Penn Watch: $2 Million Investment in York County’s Joseph Machine Company to Create Jobs and Grow Pennsylvania’s Manufacturing Sector

York Dispatch: York County manufacturer awarded $2 million state grant to help expand facility

York Dispatch: Shapiro visits Dillsburg manufacturer

WJAC: $2M going to PA’s manufacturing sector

Powerex Inc. Manufacturing Expansion

Trib Live: Hempfield's Powerex gets $1M in state aid for growing semiconductor operations

WKBN 27: W. Pa. semiconductor producer gets financial boost

Manufacturing.net: Powerex to Invest $14M for Semiconductor Operations Expansion in Pittsburgh

Pittsburgh Post-Gazette: Western Pa. semiconductor company to get up to $3M in latest CHIPS Act funding