PIDA approves 3 new loans to support business growth

The Pennsylvania Industrial Development Authority (PIDA) recently approved three new low-interest loans to support growing businesses in three counties.

Plum Creek Farm in Berks County through the Greater Berks Development Fund was approved for a $400,000 loan to construct a 4,800-square-foot pretzel manufacturing facility. The project will cost $1.07 million and will create 15 full-time jobs within three years while retaining 16 positions.

Gibson-Thomas Engineering Co. in Fayette County through the Southwestern Pennsylvania Corp. was approved for a $270,000 loan to purchase a 10,994-square-foot office building.
The project will cost $600,000 and will create seven full-time jobs within three years while retaining seven positions.

Superior Fine Grind in Westmoreland County through the Southwestern Pennsylvania Corp. was approved for a $391,480 loan to build a 7,700-square-foot building. The project will cost $869,955 and will create six full-time jobs within three years while retaining five positions.

“Ensuring companies across the commonwealth have the ability to grow and expand is vital to our economy, our communities, and our livelihoods,” Gov. Tom Wolf said. “The PIDA loans approved today will provide the resources needed for these companies to continue to see success here in Pennsylvania.”

PIDA has approved $400.6 million in low-interest loans since 2015, including $38.8 million this year.