Fay-Penn eyeing former Anchor Glass plant
SOUTH CONNELLSVILLE – Fay-Penn Economic Development Council is interested in buying the former Anchor Glass plant and transforming it into a multi-tenant facility, while efforts to recruit possible tenants continue. Fay-Penn is working on a proposal to bring the 650,000-square-foot building back into production following a large number of requests from various companies in search of large warehouse space with high ceilings.
“This is not something that is readily available in Fayette County,” said Michael Jordan, economic development specialist for Fay-Penn.
Jordan discussed Fay-Penn’s position this week with South Connellsville officials during an informational session.
Anchor Glass Container Corp. permanently closed its doors in November 2004, sending 300 workers home without warning.
According to Darrin Campbell, chief executive officer of Anchor Glass, the decision to close the plant came on the heels of a completed analysis of its existing capacity that indicated Anchor’s finances could not be improved under the industrial climate at that time.
Since 2005, Jordan said Fay-Penn officials have walked through the plant three times to better assess the structure as its contents were sold or relocated to other facilities.
Since the purchase of the plant primarily hinges on funding, Jordan said it would be tough for Fay-Penn to undertake the project alone, which is why it would serve a dual role by purchasing it and leasing it out to other businesses.
“We know we can’t handle this ourselves, so we’re looking at all the various funding sources and what can be done,” said Jordan.
While Jordan said Fay-Penn could not give a definite commitment at this time, he said other investors also have expressed an interest in purchasing and then leasing the plant, which was forwarded to the plant’s headquarters in Florida.
Mayor Pete Casini said the plant has a lot of potential, but agreed with Jordan that extensive renovations that are needed to make it available for multiple tenants.
For the last 16 years, Fay-Penn has continued to assist in the economic revitalization efforts of Fayette County, working with local business owners and investors looking to expand or move into the area as well as maintain and increase employment opportunities.
As a nonprofit organization, Fay-Penn relies on funding from local, public and private contributions and foundations, in addition to grants from the state and federal government, depending on the project.