The Pennsylvania Industrial Development Authority (PIDA) recently approved four new low-interest loans for projects in three counties.
“Now, more than ever, our business owners and developers need to be equipped with all available resources to grow their companies, create jobs, and stimulate the local economy,” said Gov. Tom Wolf. “The investments made today will help Pennsylvania businesses bounce back from this unprecedented global pandemic, put people back to work, and develop buildings and land parcels for productive use.”
Loans were approved for the following projects:
High Properties in Lancaster County, through EDC Finance Corp., was approved for a 15-year, $2 million loan to construct a 51 acres industrial park in East Lampeter Township.
Novelty Manufacturing Co. in Lancaster County, through EDC Finance Corp., was approved for a 10-year, $400,000 loan. It will purchase machinery and equipment for its Manheim Township facility. The company manufactures PVC and polyethylene lawn and garden products.
Protecall in Lackawanna County, through the NEPA Alliance, was approved for a 15-year, $250,000 loan. It will purchase .8 acre and construct a 9,600-square-foot facility.
Weaver Investments, in Westmoreland County, through Economic Growth Connection of Westmoreland, was approved for a 15-year, $2.25 million loan. The company will construct a 100,000-square-foot warehouse/flex space multioccupancy building in Penn Township.