The Pennsylvania Industrial Development Authority (PIDA) recently approved three low-interest loans totaling more than $4 million.
PIDA approved a 15-year $2.25 million real estate loan and a 10-year $700,000 machinery and equipment loan for PENN Greenhouse through SEDA – Council of Governments.
The company, a wholly-owned subsidiary of BrightFarms, specializes in the on-site growing, cleaning, and packaging of leafy vegetables. The loans will be used to construct a 263,000-square-foot facility in Snyder County and the installation of new processing equipment.
Total project costs are an estimated $19.9 million, and expansion will create 59 new jobs in three years.
PIDA also approved a 15-year $1.2 million loan for Horst Signs through the Lebanon Valley Economic Development Corp.
Funds will be used to demolish a portion of an existing building in Lebanon County and the renovation of the remaining 18,653 square feet. In addition, 18,703 square feet will be constructed.
Total project costs are an estimated $2.5 million, and expansion will create four new jobs in three years.
“These projects will bring major investments into central Pennsylvania, supporting local farming, processing, and distribution and a decades-old, locally-owned hand lettering sign business,” Gov. Tom Wolf said.
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