City of New Castle to leave state's Act 47 program designated for distressed municipalities
PITTSBURGH (KDKA) -- It's a big day for New Castle as Pennsylvania leaders will announce that the city is moving out of distressed status.
For the past 16 years, the state has classified New Castle as a distressed town, meaning it couldn't pay its bills without the state's help.
But today, city leaders will celebrate a new chapter.
The Department of Community and Economic Development will announce the approval of New Castle's exit from Act 47.
That exit will end the city's status as a financially distressed municipality.
New Castle was designated as distressed on January 5, 2007.
Act 47 gives distressed communities additional taxing powers and other tools to help them balance their budgets.
The state says that the Shapiro administration is focused on spurring the economy by strengthening communities and today's announcement will be another important step forward in that plan.
New Castle will become the 28th municipality in Pennsylvania and the fourth in our area to recover from distressed status.
Rankin, Braddock, and Aliquippa all left that status this year.
The big announcement will be made at the Confluence Coffee Shop at 1 p.m. this afternoon.
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