Governor Wolf: New low-interest loans made to three sound companies through the Pennsylvania Industrial Development Authority
Harrisburg, Pennsylvania – Governor Tom Wolf today announced that the Pennsylvania Industrial Development Authority (PIDA) has approved low-interest loans to three companies, located in Bedford, Bucks and Westmoreland counties, to help them improve their operations, to better serve their customers and to create and retain new jobs.
“PIDA funding provides invaluable help to support growing businesses with the variable costs associated with improving capacity and efficiency so that they can continue to meet consumer demand and grow even further. “said Governor Wolf. “Providing affordable resources that allow Commonwealth businesses to operate and Pennsylvanians to work is a vital investment in the state’s economy. “
In 2021, PIDA approved $ 35,683,710 in low-interest loans that generated $ 86,964,573 in private investment and supported 1,300 full-time jobs created and maintained.
The approved projects are as follows:
County of Bedford
Weaver’s Sanitation Service, Inc., through the Southern Alleghenies Planning & Development Commission, received approval for a 15-year, $ 1.315 million loan at a 1.5% reset rate to build a 11,520 square foot industrial facility in the Township of East Providence. The new facility will include five garages and offices, and the building will have finished office space on the first floor and a mezzanine on the second floor with a laundry room and washroom for employees. The total cost of the project is $ 3,527,749, and Weaver’s Sanitation Service is committed to maintaining its current 38 full-time jobs within three years. A family owned business for over 50 years, Weaver’s Sanitation Service offers weekly residential garbage pickup and commercial and wheeled dumpster services.
HiMark Windows, LLC – a manufacturer of PVC windows and patio doors – through Bucks County Economic Development Corporation, has received approval for a 10-year, $ 1 million loan at a fixed rate of 2.5% to acquire machinery and equipment, including specialized glass production machines, welding equipment, and forklifts. The company has seen increased customer demand in recent years and the new equipment is much faster and will allow the company to increase production and meet demand. The total cost of the project is $ 2 million and the company will retain 204 jobs within three years.
Wood shipping crate maker Quality Support LLC, through Economic Growth Connection of Westmoreland, secured a 15-year loan of $ 579,072 at 1.5% reset rate to acquire industrial property located on 6.7 acres in the Township of East Huntingdon. The project also includes the construction of a 10,000 square foot steel building and the renovation of four existing buildings totaling 14,461 square feet. The project will combine four facilities into one large complex to house all business operations, and when completed, the site will allow the company to facilitate and improve the workflow by having all staff, equipment and equipment in a single space, while allowing for future growth and expansion. The total cost of the project is $ 1,447,680, and the company is committed to retaining 40 full-time employees and creating 10 full-time jobs within three years.
For more information on the Pennsylvania Industrial Development Authority or DCED, visit the DCED website and be sure to stay up to date with all news from our agency on Facebook, Twitter, and LinkedIn.
# # #