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Gov. Wolfe announced more than $8 million in funding to help grow businesses and create jobs in six Pennsylvania counties


Governor Tom Wolfe, through the Pennsylvania Industrial Development Agency (PIDA), has announced the approval of eight new low-interest loans to help businesses grow in six Pennsylvania counties.

“It is important that we support the growth of our business and provide the support we need to thrive here in the Commonwealth,” said Gov. Wolfe. “His PIDA loan, which was approved today, will allow these companies to expand their operations, create new jobs and boost the economies of surrounding areas.”

To date in 2022, PIDA has approved $27,600,519 in low-interest loans, generated $58,677,680 in private investment, and created and maintained 767 full-time jobs. Since 2015, PIDA has approved $389,478,796 in low-interest loans, generating private investment of $786,658,849 and creating or sustaining 15,532 full-time jobs. I’m here.

The approved projects are:

Bucks County

Btec Solutions, Inc. has been approved for a 15-year $2,250,000 loan at a reset interest rate of 2.5% through Bucks County Economic Development Corporation. 913 Cedar Avenue, Croyden, Bristol Township, Bucks County. A long-term resident of the building, Btec Solutions currently leases approximately 45% of the facility.

The project also includes the purchase and installation of machinery to be installed and utilized in Btec Solutions’ production operations. Btec Solutions has been approved for his PIDA-MELF (Machinery and Equipment Loan Fund) loan of $750,000 for 10 years at a fixed rate of 3.5% for this purchase. The total cost of the project is $13,363,268, and the company promises he will keep 86 full-time jobs within three years.

carbon county

Jim Thorpe Site, LLC, through Carbon Chamber and Economic Development Corporation, provided a 15-year, $1,764,000 loan at a reset interest rate of 2.5% to acquire and renovate an 8,400-square-foot medical facility located at 1122 North Street, Jim. Approved. Thorpe, Jim Thorpe Borough, Carbon County. This facility is leased to St. Luke’s Health Network, Inc. At a total cost of $3,528,000 for the project, the company promises to create 35 new full-time jobs for him and within three years he will maintain eight positions.

Erie County

Equipment Reuse International LLC, through the Northwest Pennsylvania Regional Planning and Development Commission, has approved a 15-year, $199,999 loan at a 2.5% reset rate to support the improvement and renovation of its manufacturing facility at 2962 Mechanic Street in the Lake City Borough it was done. , Erie County. The total cost of the project is $400,000 and the company promises that within three years he will create three new full-time jobs and maintain nine positions.

Philadelphia County

Mulherins EM LLC, through the Philadelphia Industrial Development Corporation (PIDC) Financing Corporation, is providing a seven-year, $200,000 loan to help purchase machinery and equipment for its new restaurant space at 1100 Market Street in Philadelphia. has been approved. The total cost of the project is $400,000 and the company expects he will create 50 full-time jobs as a result of this project.

Snyder County

Penn Dairy, LLC, through the SEDA-Council of Governments of Lewisburg, Pennsylvania, has been approved for a 15-year, $400,000 loan at a 2.5% reset rate to add 9,260 square feet to the existing 27,167 square feet. rice field. His food production facility at 7199 County Line Road in Jackson Township, Snyder County. With a total project cost of $880,000, the company promises that within three years he will create six new full-time jobs and maintain 28 positions.

Westmoreland County

Weaver Development, Inc., through Westmoreland’s Economic Growth Connection, acquired 3.8 acres of land to build two 15,000 sq ft industrial flex with a 20-year amortization at a 2.5% reset rate10 Approved for $1,180,000 annually. Building in Bushy Run Corporate Park at 1000 Pontiac Court, Penn Township, Westmoreland County. The total cost of the project is $2,950,000.

Westmoreland County Industrial Development Corporation has been approved through Westmoreland’s Economic Growth Connection for a $2,250,000 loan at a fixed rate of 3.5% over 15 years to develop 78.8 acres into three ready-to-build lands for future development. Funded the site preparation work. 15-30 acres per pad “pad ready” site on State Route 3193 in Mount Pleasant, East Huntingdon Township, County Westmoreland. The total cost of the project is $6,315,500. For more information on the programs and initiatives of the Pennsylvania Industrial Development Agency and other community economic development agencies, visit the DCED website.

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