Venango economic authority receives $1.5 million grant
The Venango County Economic Development Authority has received a $1.5 million POWER grant from the Appalachian Regional Commission.
The grant, which was announced Wednesday by Congressman Glenn Thompson, will be used to renovate the now-vacant Oil City National Bank building known as Cornplanter Square into the economic authority's new Business Innovation Center.
The mixed-use space will house a brew pub, event space, and innovation center designed with future entrepreneurs in mind.
"This grant is a great investment in the future of Oil City and I commend the Venango County Economic Development Authority for their vision," Thompson said. "Not only will this grant benefit current residents, but it has the potential to spur economic growth and future investments from entrepreneurs."
POWER grants awarded by the Appalachian Regional Commission encourage economic growth in coal mining counties in communities along the region's coal supply chain.