The Pennsylvania Industrial Development Authority (PIDA) recently approved a $1 million low-interest loan for Bucks County-based Filter Services through the EDC Finance Corp.
The loan will be used to purchase a 23,850-square-foot manufacturing facility on 1.5 acres in Upper Southampton Township. The facility will replace the company’s current location that is has outgrown and will allow it to increase manufacturing output of its filtration products. The new building will include office, warehouse space and light manufacturing.
The project will create seven full-time positions, retain 15 existing positions and add $2.6 million into the economy.
“Through this loan, we are investing in a growing business that will create and retain jobs here in Pennsylvania,” Department of Community and Economic Development (DCED) Secretary Rick Siger said. “The (Josh) Shapiro Administration is working hard every day to transform our commonwealth into an economic powerhouse, and PIDA helps give businesses the resources to help make that happen.”
PIDA provides eligible businesses with low-interest loans and lines of credit for the development of industrial parks and multi-tenant facilities. Business must commit to creating and retaining full-time jobs, and loans can be used for construction and renovation costs, land and building acquisitions, machinery and equipment purchases, working capital, and accounts receivable lines of credit.