May 05, 2021
Governor Tom Wolf announced more than $11 million in low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) that will help seven companies in five counties create and retain employees, grow their operations, and improve their facilities.
“Pennsylvania’s job creators are getting people back to work, creating new opportunities and possibilities for communities all across the commonwealth,” said Gov. Wolf. “Today’s approved projects are a testament to the strength and resilience of our manufacturers, who are creating the products, services, and jobs we need to secure a bright, stable economic future.”
In 2021, PIDA has approved $13,620,950 in low-interest loans that have resulted in $22,407,560 in private investment and supported 453 created and retained full-time jobs.
The approved projects are as follows:
Blair County
DelGrosso Foods, Inc., through Altoona-Blair County Development Corporation, was approved for a 15-year, $1.615 million loan at a 1 percent reset rate to renovate a vacant 160,220-square-foot building in Antis Township to become the future home of a new, expanded food manufacturing facility. Proposed renovations are extensive and include earthwork and stormwater management upgrades, concrete foundations and paving, plumbing, electrical, and HVAC upgrades, new doors, windows, drywall, paint, and an upgraded fire protection system. The total project cost is $12,800,000, and the company will retain 113 full-time employees and will create 26 new full-time jobs within three years.
Lancaster County
Flex-Cell Precision, Inc., through EDC Finance Corporation, was approved for a 15-year, $1.485 million loan at a 1 percent reset rate to expand its manufacturing facility in Lancaster City. The property currently consists of 17,500 square feet and through this project, will be expanded to 41,010 square feet. The total project cost is $3,300,000, and the company will create 10 and retain 45 full-time jobs within three years.
Messick Farm Equipment Inc., through EDC Finance Corporation, was approved for a 15-year, $2 million loan at a 1 percent reset rate to construct a 264,308-square-foot building in Rapho Township. The building will be mixed use, consisting primarily of warehouse and distribution, light manufacturing/service, office, and showroom space. The total project cost is $21.9 million, and the company will retain 100 full-time employees.
Rock Lititz Studio, LLC, through EDC Finance Corporation, was approved for a 15-year, $2 million loan at a 1 percent reset rate to build a 44,400-square-foot rehearsal studio known as Studio 2. The project site is located within the Rock Lititz Campus on a 96-acre Business Park in Warwick Township. The total project cost is $12,018,436, and the project will retain 125 full-time employees and create 5 full-time jobs within three years.
Monroe County
Tobyhanna Site LLC, through Northeastern Pennsylvania Alliance, was approved for a 15-year, $2 million loan at a 1 percent reset rate to construct a new 28,000-square-foot medical facility in Tobyhanna Township. Ninety percent of the space will be leased to St. Luke’s Health Network, Inc. through a 15-year lease. The remaining ten percent will be occupied by a Dunkin Donuts coffee shop. The construction of this new facility will provide the public with access to St. Luke’s University Health Network’s physicians as well as other services such as medical procedures, physical therapy, laboratory services, medical office space, X-ray, and pediatrics. The total project cost is $8,755,182, and St. Luke’s has committed to create 95 full-time jobs at the project site within three years.
Schuylkill County
That Fudge Place, LLC, through Northeastern Pennsylvania Alliance, was approved for a 15-year, $250,000 loan at a 1 percent reset rate to acquire and renovate a 10,296-square-foot building in Wayne Township. The newly renovated space will be the new location of That Fudge Place, LLC, a manufacturer of fudge products. The total project cost is $500,000, and eight current full-time employees will move into the new facility following the completion of renovations. The company anticipates creating five additional full-time jobs within three years.
York County
PSC Biotech Corporation (d/b/a BioTechnique), through York County Economic Development Corporation, was approved for a 10-year, $2 million loan at a 1 percent reset rate to acquire a 163,885-square-foot manufacturing facility located at 250 Cross Farm Lane in Conewago Township. The company is also working with the Governor’s Action Team on this project, and the relocation will allow PSC Biotech Corporation to develop a contract manufacturing organization (CMO) cytotoxic-fill-finish facility at the new facility. The total project cost is $5,350,000, and this project will allow the Company to retain three full-time employees and create 100 full-time jobs within three years.
For more information about the Pennsylvania Industrial Development Authority and other DCED initiatives, visit dced.pa.gov.
"creation" - Google News
May 05, 2021 at 10:28PM
https://ift.tt/3tkL29C
Gov. Wolf Announces $11 Million to Support Business Expansion and Job Creation in Five PA Counties - pa.gov
"creation" - Google News
https://ift.tt/39MUE4f
https://ift.tt/3bZVhYX
Bagikan Berita Ini
0 Response to "Gov. Wolf Announces $11 Million to Support Business Expansion and Job Creation in Five PA Counties - pa.gov"
Post a Comment