Senator Dan Laughlin (R-49) welcomed the Commonwealth’s approval of the Flagship City Commons project for financing through the Erie City Revitalization and Improvement Zone (CRIZ), calling it another major step forward for downtown Erie’s revitalization.
The approval authorizes $10 million in Erie CRIZ tax increment financing to support the $31.2 million project after state officials determined it meets the requirements of the CRIZ Act.
“Bringing a CRIZ to Erie was my top legislative priority because I knew it would create opportunities that simply didn’t exist before,” Laughlin said. “Years later, we’re seeing that vision become reality. The wins are coming, and this project is another example of what can happen when government creates the right environment for private investment.”
Laughlin said the CRIZ was designed to help attract investment, create jobs and encourage long-term redevelopment throughout downtown Erie.
“The CRIZ isn’t about one project. It’s about building lasting momentum for our community,” Laughlin said. “Flagship City Commons is another sign that Erie is moving in the right direction, and I believe there is much more to come.”
Drew Whiting, president and CEO of the Erie Downtown Development Corporation, thanked the many public and private partners who helped move the project forward.
“The EDDC has been focused on the revitalization of downtown for close to a decade. The local institutions who stepped up to invest in our community have contributed private capital to jumpstart $150 million of development. It is encouraging to receive public sector participation through recent grant and loan funding from DCED and the CRIZ. We extend a special thank you to Governor Shapiro and his staff, Senator Laughlin, Representatives Bizzarro, Harkins and Merski, and the Erie CRIZ Authority for their continued support of Erie’s future.”
Brian Polito, executive director of the Erie CRIZ Authority, said the approval marks another important step in the city’s continued revitalization.
“This approval is a significant milestone for downtown Erie. Flagship City Commons reflects the kind of transformational investment the CRIZ was created to support, and the project will build on the momentum already taking shape throughout the city’s core,” Polito said. “We appreciate the continued partnership of the Commonwealth, the EDDC and our local stakeholders as we work together to support Erie’s long-term growth.”
Laughlin said the approval is another reminder that the years spent fighting to establish the Erie CRIZ are beginning to pay dividends.
“This is exactly why we fought for the CRIZ,” Laughlin said. “The best measure of success isn’t the legislation itself. It’s the investment, growth and renewed confidence we’re seeing throughout downtown Erie.”
With the approval of Flagship City Commons, total construction investment supported through the Erie CRIZ has reached approximately $135 million in its first year.
