February 3--Governor Edward G. Rendell announced the investment of nearly $3.5 million in Pennsylvania's manufacturing sector that will help five Beaver County companies create and retain more than 550 jobs within the next three years. According to the governor, "Manufacturing remains one of the largest employers in Pennsylvania, accounting for one in eight jobs. By using our resources to support local business, we are creating new opportunities for our working men and women."
One of the five companies to benefit from this investment, O'Neal Metals Pennsylvania will create at least 44 new jobs within three years and retain 68 existing positions by expanding its Ambridge manufacturing operations with the purchase of additional equipment. The Beaver County Corp. for Economic Development helped coordinate a $183,450 DCED offer that included a $50,000 Opportunity Grand, $45,450 in customized job training funds, and $88,000 in job creation tax credits. The total cost of the project is $1,545,450. A subsidiary of O'Neal Steel, the company manufactures parts and subassemblies for the production of rail cars, distributes and processess ferrous and non-ferrous metals, performs plasma cutting, laser cutting, punching, steel forming, and welding, as well as laser cutting and aluminum forming.