Center for Innovation and Entrepreneurship ($11.25M, 51,000 sq. ft.)
The Center for Innovation and Entrepreneurship is Phase I of the ESU Research and Business Park being developed on 15-acres of property owned by East Stroudsburg University in Smithfield Township. The building is located on the corner of Brown Street and Route 447 in Smithfield Township.
The Center for Innovation and Entrepreneurship includes:
The economic impact of Phase I, the construction of a 51,000 sq. ft. Center for Innovation and Entrepreneurship as prepared by the Northeast Pennsylvania Alliance (NEPA) using its IMPLAN model, is expected to result in:
The project partners included the Redevelopment Authority of the County of Monroe and the Pocono Mountains Economic Development Corporation. The building was constructed by Sordoni Construction Services, Inc., designed by hemmler+camayd architects, and engineered by Boucher and James, Inc. The building is funded in part by a $2.5M Redevelopment Assistance Capital Program (RACP) grant from the Commonwealth of Pennsylvania; $1.2M Economic Development Administration (EDA); $75,000 from the Appalachian Regional Commission (ARC); $1M Local Share Account Gaming â€“ Monroe County; $281,000 PA State System of Higher Education (PASSHE); $60,000 legislative funding; and $25,000 from the Sordoni Foundation. The construction loan is in collaboration with Luzerne Bank (lead bank), Fidelity Deposit and Discount Bank and Penn Security Bank.