SCRANTON, Pa. — "I want you to know our main streets are going to be a critical part of our growth moving forward and this will be example of a project that we will hold up in other communities across Pennsylvania, of how it's done," said Governor Josh Shapiro.
He joined state and local leaders inside the former Scranton Electric Building as he announces the Commonwealth's 5-million-dollar investment in Fidelity Bank's expansion.
"We're trying to make our commonwealth a leader in economic development and growth and job creation, creating more opportunity and more real freedom for people all across Pennsylvania," said Shapiro.
Fidelity Bank purchased the Linden Street property back in 2022 and expected to invest 13 million dollars into its restoration. But following the pandemic, costs nearly doubled, slowing the progress until now.
"The total project cost is about $25 million. And uh so this $5 million grant will come in very handy," said Dan Santaniello, President and Chief Executive Officer of Fidelity Bank. "And again, it will enable us to move forward and see this project to fruition together."
Santaniello says the investment from the state will not only benefit the banks future, but the community's as well.
"We're not just rebuilding a city, we're reinvigorating our sense of place, pride and possibility," said Santaniello.
"And some of the renovations that are planned are actually going to reach back to some of the history of the chamber when it was once in this building," said Robert Durkin, the president of Greater Scranton Chamber of Commerce that decades earlier worked inside the historic building.
He says the continued investment from the state is only a positive for the city.
"The number of individuals, 160 plus staff people that will be coming down here and what they're going to contribute to downtown Scranton to be tremendous," said Durkin.
The 5-million-dollars in grant money comes a month after Governor Shapiro's Administration announced it is investing nearly $600 million in over 400 projects across the Commonwealth to grow the economy and create jobs.