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Originally published Thursday, December 22, 2011 at 9:22 AM

US gives $400k for NH's Pease Tradeport expansion

New Hampshire's Pease Development Authority is getting a $400,000 grant to help demolish a former military warehouse and provide space for commercial development.

The Associated Press

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PORTSMOUTH, N.H. —

New Hampshire's Pease Development Authority is getting a $400,000 grant to help demolish a former military warehouse and provide space for commercial development.

The U.S. Commerce Department's Economic Development Administration says the project is expected to create a development site for a 100,000-square-foot building that could provide 500 jobs.

The Pease Air Force Base closed in 1991. Since then more than 245 businesses have set up shop there. They employ more than 7,000 people.

The site that will be cleared for development is the last large spot available for redevelopment in the former air force base.

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