HARRISBURG - State Senate Democratic Leader Robert Mellow announced a total of $5 million in state loan funds for the Pocono Mountains Industries in Tobyhanna to make key investments in projects at East Stroudsburg University, the Pocono Ecoindustrial Park, and other Monroe County projects.

“This funding will bolster Monroe County’s economy and provide good jobs for more workers,” Mellow said. “I will continue to assist local officials and business leaders in obtaining state dollars for worthwhile economic development projects.”

Two of the projects would provide:

• $2 million for the East Stroudsburg University Research and Technology Park to build a computer security research center on 11 acres. The center is expected to house business accelerator space, research and development facilities, anchor tenant space and offices. The park is also expected to serve as a key complement and supplement to the “Wall Street West Initiative.”
• $1.75 million for the Pocono Ecoindustrial Park to construct a 40,000 square-foot consumer recyclables processing facility on seven acres in the Pocono Mountains Business Park. The facility would provide a sorting/bailing operation for processing consumer recyclables. Incubation space would also be made available for emerging businesses that convert recyclables into new products.

These projects will help create good jobs, boost the local economy and attract additional business interest and investment in the Poconos region,” Mellow said.

The Commonwealth Financing Authority approved the state loan under the “Building PA” program.