June 14, 2002
The Panther Hollow Technology Research and Development Center was awarded a $3.48 million tax increment financing (TIF) plan by the Urban Redevelopment Authority. Located on a half-acre next to CMU, the funds will supplement $19.6 million in private financing and $9.75 million in commonwealth grants and loans, according to the Pittsburgh Tribune-Review. "Upon completion, the $32.8 million structure would offer 131,000 square feet of research and development space," according to the article. "Intel plans to establish a research facility there, and CMU is recruiting other researchers and technology companies," said the report.