The Pennsylvania Industrial Development Authority (PIDA) program recently approved more than $3 million in low-interest loans for business projects in five counties.
So far this year, PIDA has approved $76.5 million in low-interest loans. The projects retained or created 4,167 full-time jobs and encouraged $109.5 million in private investment.
“It is vital for us to support businesses of all types,” Gov. Tom Wolf said. “The projects approved today will not only help companies expand and create jobs right here in Pennsylvania, but they will establish new sites to support future growth that will have a significant positive impact on Pennsylvania’s economy.”
The Greater Berks Development Fund received a $510,000, 15-year loan at a 3.75 percent rate for the final phase of the acquisition of the Bern Township Industrial Park.
Imageworks Corp. received a $560,000, 15-year loan at a 2.75 percent rate with a seven-year reset through the Bucks County Economic Development Corporation for the acquisition and renovation of a 31,200-square-foot building in Tullytown.
AFC Industries PA. received a $400,000, 15-year loan at a 3.75 percent rate through SEDA-Council of Governments for the acquisition and renovation of a facility located on four acres in Berwick Borough.
Harrisburg Glass received a $571,117, 10-year loan at a 2.75 percent rate with a five-year reset through the Capital Region Economic Development Corp for the purchase of a 27,000-square-foot facility in Shiremanstown.
Summit Utility Structures received a $1 million, 10-year loan at a 3.75 percent rate through Greater Hazleton Community-Area New Development Organization for the purchase of machinery and equipment to be installed at the company’s new manufacturing facility in West Hazelton Borough.