Company looks to invest millions, bring jobs to Reading, Allentown
Updated On: Feb 28 2013 05:51:39 PM CST
The multi-platinum rock band "LIVE" announced its newest company investment, United Fiber & Data, will be breaking ground in Reading and Allentown.
The company will build at the Buttonwood Gateway site in Reading bringing more than 100 new jobs. In Allentown, it will being another 100+ jobs to two locations in the neighborhood improvement zone (NIZ).
The company, whose investors are three members of the multi-platinum York based band "LIVE", are investing $34 million dollars to knock down and transform the Reading Outlet Center building 1 at North 9th and Douglass Streets.
"It's super-super exciting," said Chad Taylor, "LIVE" guitarist and investor.
Think Loud Development has its sights set on investing in fiber-optics. Part of that operation will be housed in Allentown.
"I think data might be the new punk rock. I think it's the most rebellious thing out there," said Taylor.
The new company, Taylor stated, is United Fiber & Data.
"Think Loud Holdings made its investment into United Fiber & Data almost three years ago. And so we've worked very quietly behind the scenes to birth this company," said Taylor.
The Buttonwood Gateway site in Reading is where United Fiber & Data will be breaking ground, said Taylor. Think Loud Development has also invested in three other cities.
"There will be four data centers located in York, Allentown, Reading and Lancaster," said Taylor.
"We'll build a 22,000 square foot $40 million dollar facility that will bring 100 jobs in the city of Reading," said Bill Hynes, CEO and founder of Think Loud Development, LLC.
"Each of the data centers will cost $40 million dollars to build. Each data center by an independent third party analysis will generate $500 million dollars in Pennsylvania tax revenue over 30 years," said Taylor.
The centers in these four cities, said Taylor, will create more than 400 new jobs. United Fiber & Data is also planning on making a move to the "neighborhood improvement zone", in downtown Allentown. Taylor stated that they expect to break ground there in about eight months.
"We just see it as an exciting opportunity to invest in a city center that is thriving," said Taylor.
At the Buttonwood Gateway facility in Reading, groundbreaking is expected to take place within six months.
"This is about creating jobs and sustaining an economy and that's a way to give back that's brand new," said Taylor.
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