Governor Tom Wolf introduced the approval of three new low-interest loans via the Pennsylvania Industrial Growth Authority (PIDA) to assist enterprise progress in three counties throughout Pennsylvania that can assist create and retain 56 jobs.
“Making certain corporations throughout the commonwealth have the flexibility to develop and broaden is significant to our economic system, our communities, and our livelihoods,” mentioned Gov. Wolf. “The PIDA loans authorised at this time will present the assets wanted for these corporations to proceed to see success right here in Pennsylvania.”
Up to now in 2022, PIDA has authorised $38,844,518 in low-interest loans which have resulted in $81,724,754 in personal funding and supported 942 created and retained full-time jobs. Since 2015, PIDA has authorised $400,622,795 in low-interest loans which have resulted in $809,705,923 in personal funding and supported 15,707 created and retained full-time jobs.
The authorised initiatives are as follows:
Berks County
Plum Creek Farm, LLC, via the Higher Berks Growth Fund, was authorised for a 15-year $400,000 mortgage at a 3.5 p.c mounted rate of interest to assemble a 4,800-square-foot pretzel manufacturing facility positioned at 5035 Bernville Street in Penn Township. The full challenge value is $1,074,400 and the corporate has dedicated to create 15 new, full-time jobs and retain 16 jobs inside three years. The corporate beforehand obtained a $1 million PIDA mortgage in 2019.
Fayette County
Gibson-Thomas Engineering Co., via the Southwestern Pennsylvania Company, was authorised for a 15-year $270,000 mortgage at a 3.0 p.c reset rate of interest to buy a ten,994-square-foot workplace constructing positioned at 2200 College Drive, Lemont Furnace in North Union Township. The full challenge value is $600,000 and the corporate has dedicated to create seven new, full-time jobs and retain seven staff inside three years.
Westmoreland County
Superior Wonderful Grind, LLC, via the Southwestern Pennsylvania Company, was authorised for a 15-year $391,480 mortgage at a 3.0 p.c reset rate of interest to assemble a 7,700-square-foot constructing positioned at 1565 Mount Nice Connellsville Street in East Huntingdon Township. The full challenge value is $869,955 and the corporate has dedicated to create six new, full-time jobs, and retain 5 staff inside three years.
For extra details about the Pennsylvania Industrial Growth Authority and different Division of Group and Financial Growth applications and initiatives, go to the DCED web site, and be sure you keep up-to-date with the entire company’s information on Fb, Twitter, and LinkedIn.
