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Governor Corbett Teams With LIVE to Create PA Jobs

$5 Million Economic Growth Initiative Grant Awarded

YORK, PA -- (Marketwired) -- 07/14/14 -- When the founding members of the multiplatinum band LIVE, Chad Taylor, Patrick Dahlheimer and Chad Gracey, along with business partner Bill Hynes, decided to locate their new companies, Think Loud Development, Think Loud Studios, YRK Publications and United Fiber & Data, into one of the most impoverished neighborhoods of York, PA, they found a champion in Republican Governor Tom Corbett.

A group of famous rock stars and a conservative Governor might seem like an unlikely pairing, but according to LIVE guitarist Chad Taylor, it took the Republican Governor to lure the artists back to their home state to create new economic development.

"Governor Corbett and his wife Susan, recognized LIVE with the PA Governor's Award for 'Innovation in the Arts'. It was the first time in our career that the state body had acknowledged our legacy and contribution to the local community. I quickly came to recognize the Governor's willingness to make tough decisions that, like a rock band, can cut against the populous grain. It was this spirit that made me realize we shared a vision for the revitalization of our Commonwealth," said Taylor.

Think Loud and their affiliated companies have invested over $30 million to purchase and refurbish real estate in the City of York, and to build a fiber optic and data network that will encompass over seven hundred technology-driven jobs within the state.

"Economic growth initiatives are energizing local economies around our state," said Corbett. "Think Loud saw the promise that its involvement in downtown York could bring to revitalizing the community. This project will serve as a technology hub and bring good-paying jobs back to the downtown."

Think Loud and United Fiber & Data ("UFD") will be headquartered at 210 York Street, a $16.8 million refurbishment of the former Maple Press printing company. The group has purchased more than fifty adjacent properties with the intention of building an expansive data park and enterprise incubator zone for companies seeking UFD's data transference and storage infrastructure. The data park will house a $30 million "Tier IV" data center and serve as a regeneration center for UFD's fiber network. United Fiber & Data is helmed by former Vonage President, Michael Tribolet.

"We hired the best and brightest telecommunication and infrastructure executives to operate our company. We've made a commitment to bringing sophisticated, long-term technology jobs to our state. We're positioning UFD to do business with some of the world's largest and most forward-thinking companies. Without question the Economic Growth Initiative grant will directly aid in our ability to help the community," adds Think Loud CEO, Bill Hynes.

The members of LIVE are using their status as entrepreneurs to seek out established and emerging enterprises to join forces with them in expanding York's potential as a technological epicenter servicing New York, Philadelphia, Baltimore and Washington, D.C.

"These guys could have spent their money buying vacation homes in the Hamptons or wherever the rock star class hangs. Instead, they recruited me and my executive team to build much-needed infrastructure in a state known more for its gas reserves than its technology sector. The global attention LIVE brings to any project sets them apart from typical venture capital. With the help of Governor Corbett, they're opening Pennsylvania up to house the next Apple, Tesla or Google," said UFD CEO, Michael Tribolet.

More about Economic Growth Initiative and 210 York Street:

Governor Tom Corbett today announced the award of a $5 million Economic Growth Initiative grant to Think Loud Development, LLC of York County. The grant will be used for the renovation and construction of a nearly 54,000 square foot office building and data and telecommunications center that will cater to enterprise, small to medium-sized businesses, healthcare, as well as carrier and wireless customers.

Located at the intersection of York and Queen Streets and in close proximity to
Santander Stadium stands the 210 York Street campus, compromised of multiple, contiguous parcels of land.

"Economic growth initiatives are energizing local economies around our state," said Corbett. "Think Loud saw the promise that its involvement in downtown York could bring to revitalizing the community. This project will serve as a technology hub and bring good-paying jobs back to the downtown."

Upon completion, the York campus will be a compilation of historic preservation, urban revitalization and the integration of new industry. The conversion of an old printing warehouse into office space and historic preservation are expected to transform the neighborhood. The project anticipates creating or retaining nearly 700 jobs and infusing more than $2 billion in tax revenue into the community.

In 2012, Corbett reformed the state's method of funding the Redevelopment Assistance Capital Program with a significant redesign, making the process more transparent and objective. Projects are now selected based upon their job-creation potential, their economic impact, as well as their viability and construction readiness.

Prior to Corbett taking office, the state's spending and borrowing for capital redevelopment assistance had become unsustainable for the state and its taxpayers, growing from $400 million in 1986 to slightly more than $4 billion in 2010. Corbett also said that the program had strayed considerably from its intended purpose of encouraging and assisting job growth through regional economic development projects.

More about LIVE:

LIVE was founded in York, PA in 1985 while the members attended Edgar Fahs Smith Middle School. The band was discovered as teenagers in the early 90's by Hilly Kristal, owner of CBGB's, the legendary punk rock club located in New York City's Bowery district. Hailed as an East Coast contemporary of Nirvana, the band was endorsed and supported by a notorious assortment of rock pioneers including The Ramones, Peter Gabriel, Mick Jones [Clash], Johnny Rotten [Sex Pistols], and producer Jerry Harrison [Talking Heads]. With a global fan base, LIVE have sold more than twenty million albums and performed for more than fifteen million concert attendees. Guitarist Chad Taylor, bassist Patrick Dahlheimer and drummer Chad Gracey are private equity investors and operators of parent company Think Loud Holdings, LLC. LIVE will release its eighth studio album later this fall.

More about United Fiber & Data:

United Fiber & Data, headquartered in York, PA, is an emerging telecommunications company with operations in New York, New Jersey, Maryland, Pennsylvania and Virginia.

More about Think Loud Development:

Think Loud Development caters to small, mid-cap and large enterprise clients seeking the benefits associated with turnkey real estate solutions. Our areas of practice include medical, commercial, industrial, retail, telecommunications, fiber-network, data-storage, public/private collaboration, government infrastructure and financial institutions.

Editor's note: For statutory and legislative purposes, the program will continue to be known as the Redevelopment Assistance Capital Program.

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