Amid budget crisis, Rendell underscores importance of state investment

by Harry Zimbler, Editor

Altoona – Advocating for state spending in business investments, Governor Ed Rendell announced a government financing package for two companies coming to Blair County, which will result in the creation of 185 jobs.

The two projects announced were the arrival of Diversapack, LLC, and Advanced Metal Processing.

Diversapack is a manufacturer and printer of flexible films for packaging. The state-of-the-art company will be located in the Jubelirer Business Park in Tyrone. The $7 million project is expected to create 150 jobs by 2012.

Advanced Metal Processing is a secondary aluminum recycling business that utilizes the advanced technology of Chinook Energy – a joint venture partner with Advanced Metal Processing-PA. The end result is pure, clean aluminum that is environmentally sound and economical.

“We consider our collaborative efforts for economic development here at ABCD Corp. an item of great pride,” stated Martin Marasco, president and CEO of ABCD Corp. “We are excited to be part of these projects with Governor Rendell, the Governor’s Action team, the Department of Community and Economic Development, our federal, state, and local officials, local business and communities.”

Joe Sheetz speaks at the announcement.

William Wachtel and former United Nations Ambassador Andrew Young, both part of the Diversapack ownership group, spoke on behalf of the project.

Young discussed a Diversapack program that will establish a savings account for each child of an employee. The company will invest $1,000 at a time at intervals of the child’s life.

“Diversapack is a minority firm that has had trouble getting access to capital,” Young said.  “But this is a new kind of business, a new way to present American ingenuity. Private enterprise will invest in the health and education of families and workers. You are all a part of history. I hope this goes a long, long way.”

Reliance Bank has taken the lead on the private financing aspects of the project.

All of the individuals who spoke at the announcement gave credit to the work of Kate Fairweather who guides the Governor’s Action team in Harrisburg.

Joe Sheetz, head of the ABCD Corp. board of directors and host of the announcement, stated, “Governor Rendell has made it his personal mission to make Pennsylvania and economic leader in the nation.”

For his part, Rendell used the announcement as an opportunity to state his opposition to the Republican budget that completely zeros out a number of economic development programs. As the announcement was made, a few dozen protesters were in the parking lot calling for a balanced budget with no tax increases.

“We cannot balance the budget by just making cuts,” Rendell said. “We need additional revenues. In the past six years there have been 20 projects here in Blair County. That’s $100 million in state investment. We have to stay competitive by investing in economic development. I hope these two companies are wildly successful.”