PTTGC America (GCA) is contributing $1.15 million to the Shadyside Local School District and Mead Township even as the company continues discussions with potential partners on a proposed world-scale petrochemical project in the Ohio River Valley.
The payments stem from a March 2020 Ohio Enterprise Zone agreement, under which GCA pledged a financial commitment to the school district and the township over 15 years after final investment decision.
Although no such decision is imminent, the GCA will provide financial support of $1 million for the school district and $150,000 for Mead Township to demonstrate commitment and good corporate citizenship to the local communities. In addition to the payments, GCA will allow Mead Township to temporarily utilize its office and garage in Dilles Bottom. These payments will take effect immediately and remain in place regardless of whether or when an investment decision is reached.
With these payments, GCA is helping to meet some immediate needs of the local community. The $1 million to the school district will allow it to secure its school restoration plan with the Ohio Facilities Construction Commission. Without the funding, the plan would be in jeopardy. Meanwhile, the Dilles Bottom office building will alleviate the health and safety risks of the township’s existing office and equipment storage locations.
“All our local partners, including Mead Township and the Shadyside Local School District, have been extraordinarily supportive and patient throughout this process,” GCA CEO Panod Awaiwanond said. “We are pleased to support them with a gesture of financial assistance as we continue our discussions with potential partners on our Ohio project.”
Shadyside Superintendent John Haswell expressed thanks on behalf of the Shadyside Board of Education. “This payment of $1 million allows our district to take a giant step toward building a new facility for pre-K through 12th grade in the near future. It allows us to lock in a funding commitment through the Ohio School Facilities Commission under which 75% of the construction cost will be covered by the state. This could save our district millions of dollars,” Haswell said.
“We believe this affirms GCA’s intention to be a great community partner. The Shadyside Board looks forward to working with the company in years to come to prove a brighter future for Shadyside residents.”
Mead Township Trustee Chairman Ed Good called the lease agreement and payment “another example of GCA’s understanding of and true commitment to our community,” adding, “This arrangement will allow the township to conduct business in a safer, more efficient manner for our employees and residents.
“We believe the constant contact and transparency Mead Township has maintained with GCA and its partners has once again shown results.”