The Pennsylvania Industrial Development Authority (PIDA) recently approved American Paper Bag for a $1.4 million, 10-year loan at a 3.75 percent interest rate, Rep. Gerald Mullery (D-Luzerne) announced.
The Sugar Notch-based business manufactures paper shopping bags and mailers. The company uses a European manufacturing process that produces bags with fewer folds, allowing bags to take up less space in the shipping process.
Funds will be used to purchase equipment so that the company can add a variety of shapes, sizes, and designs for products.
The company is expected to add 38 full-time jobs in the next three years.
“I am happy to see assistance coming to a quality business here in Luzerne County,” Mullery said. “When investments are made in local businesses, family-sustaining jobs are created, benefiting our whole community. I look forward to seeing how this loan will further the success of American Paper Bag.”
Blue Bus Holdings in Bucks County and Jamison BMP in Franklin County also received loans.
Blue Bus was approved for a $2 million, 10-year loan at a 3.75 percent rate, and Jamison was approved for a $1.8 million, 10-year loan at a 2.75 percent rate.
PIDA is regulated through the Department of Community and Economic Development.