01/03/2018 | Press release | Distributed by Public on 01/03/2018 15:26
Harrisburg, PA - Today, Governor Tom Wolf announced new low-interest loan approvals through the Pennsylvania Industrial Development Authority (PIDA) program for 13 small business projects in nine counties across the commonwealth that will help create and retain more than 200 jobs statewide.
'These worthy investments will provide a formidable economic boost to a wide variety of small businesses across Pennsylvania,' said Governor Wolf. 'When we provide this fiscally responsible financial support in multiple economic sectors, from farming and manufacturing to site preparation and production, we build a brighter, more successful future for Pennsylvania's families and their communities.'
Last year, PIDA approved $65 million in low-interest loans will result in $199 million in private investment and support 3,268 created and retained full-time jobs. This month, PIDA approved a total of more than $8.7 million in fixed, low-interest loans to projects in Allegheny, Beaver, Berks, Bucks, Cumberland, Dauphin, Lancaster, Mifflin, and Somerset counties that will generate more than $13.1 million in matching capital investment.
Green Mill Systems LLC was approved for a $100,000, three-year term loan at a fixed 2 percent rate through Southwestern Pennsylvania Corporation to assist at its manufacturing facility on Smallman Street in Pittsburgh. The company has developed processes to increase efficiency in the extraction and isolation of compounds in organic material. The project will enable the company to retain one and create four full-time jobs within three years.
Allied Rubber and Rigging Supply Company was approved for a $613,054, 15-year term loan at a 2 percent fixed rate through Beaver County Corporation for Economic Development to assist in the acquisition of 45,360 square feet of commercially zoned real estate on 6.05 acres on state Route 65 in Franklin Township. The project will enable the company to renovate an existing building and consolidate two locations to increase operational efficiency and maximize productivity. Through this project, the company will retain its 25 employees.
Greater Berks Development Fund (GBDF) was approved for two 15-year term loans totaling $3,750,000, at a 2 percent fixed rate, to assist in the acquisition of 48.24 acres on Leisczs Bridge Road and Stinson Drive and 40.57 acres on Van Reed Road, adjacent to U.S. Route 222, in Bern Township. GBDF plans to develop the sites into two industrial parks for small and mid-sized manufacturing and industrial tenants. The project includes site preparation, infrastructure improvements, and utility placement in preparation of five buildings which could total more than 680,000 square feet on sites that would be easily expandable to meet tenants' needs.
Cam Real Estate Partners, LP was approved for a $1 million, 15-year term loan at a 2 percent fixed rate through Bucks County Economic Development Corporation to assist in the construction of a 22,500-square-foot building on 2.8 acres at West Post Road and Royal Avenue in Falls Township. When completed, the multi-tenant facility will be marketed to smaller wholesalers, manufacturers, and distributors seeking warehousing space. Additionally, the owners plan to move their operating entity, Shades of Green Inc., to the new site.
Mellow Mink Brewing, Inc. was approved for a $98,300, 10-year term loan at a 2 percent fixed rate through Cumberland Area Economic Development Corporation to assist in the acquisition of machinery and equipment to be installed in the company's new brewing facility on Carlisle Pike in Hampden Township. Mellow Mink is a new company that will produce a variety of beer that will be available in a tasting room at its brewing facility. The project will enable to company to create four full-time jobs within three years.
Higher Information Group, LLC was approved for a $300,000, five-year term loan at a 2 percent fixed rate through Capital Region Economic Development Corporation to assist in the acquisition of new equipment that will be added to the company's inventory of large commercial copiers and printers to expand operations and increase revenue. The project will enable the full-service information technology company to retain 60 full-time jobs and create six new full-time jobs within three years.
Andrew and Andrea Bollinger were approved for a $400,000, 15-year term loan at a 2 percent fixed rate through EDC Finance Corporation to assist in the expansion and continued modernization of their dairy farming operation on Picnic Woods Road in Lititz. In 2004, Andrew, with his father, Thomas Bollinger, formed Meadow Spring Farm LLC to begin transitioning dairy operations to a third generation. The Bollingers currently have 380 head of dairy cows, corn, alfalfa, wheat production acreage, and their own milk hauling equipment.
Cody and Dustin Musser were approved for a $400,000, 15-year term loan at a 2 percent fixed rate through EDC Finance Corporation to assist in the acquisition of a 44-acre farm they currently rent near their existing farm in Mount Joy. The property includes a house, cropland, and pasture, along with various outbuildings. Since purchasing the family farm from their father in 2014, the brothers have doubled their revenue with a diversified income stream that includes the production of livestock and crops, the boarding of heifers, and other business.
Josiah and Chelsea Rohrer were approved for a $400,000, 15-year term loan at a 2 percent fixed rate through EDC Finance Corporation to assist in the acquisition of a 140-acre family farm on Rohrer Road in Ralpho Township. The Rohrers, who are acquiring the farm from Josiah's parents, operate a hog finishing business. Additionally, Josiah is a member of a partnership that raises beef cattle and grows vegetables.
Mifflin County Industrial Development Corporation was approved for a $115,724, 15-year term loan at a 2 percent fixed rate to assist in the removal and replacement of the roof on three multi-occupancy buildings in the MCIDC Plaza, an industrial property reuse complex that was created in 1972 following the devastation caused in the area by Hurricane Agnes. The project will allow the five current tenants to maintain operations at the site.
Coal and Environmental Services Inc. was approved for a $435,000, 15-year term loan at a 2 percent fixed rate through Somerset County Economic Development Council to assist in the construction of four 4,000-square-foot buildings on Red Goose Road in Somerset. The new buildings will be adjacent to the company's two current sites, which will remain in operation. A portion of the company's testing and laboratory operations will be moved to the new buildings, one of which will be dedicated to coal testing and analysis. The project will enable the diversifying company to expand operations, retain 99 jobs, and create an additional 10 new full-time jobs with three years.
Lucas and Krista Shaffer were approved for a $400,000, 15-year term loan at a 2 percent fixed rate through Southern Alleghenies Planning and Development Commission to assist in the purchase of a 267-acre dairy and crop farm on Hyasota Hill Road in Conemaugh Township. Lucas is a lifelong farmer who operates a 110-cow dairy operation and crop farm on approximately 1,000 leased acres and provides milk to Gallikers Dairy in Johnstown and crop and grain to other milk producers in the Somerset County area.
PIDA is an independent authority staffed and regulated through the Department of Community and Economic Development. The authority provides capital for building acquisition, construction and renovation work, machinery, and equipment loans along with working capital lines of credit, primarily for manufacturers, industrial developers, research and development firms, agricultural processors, and employers looking to establish national or regional headquarters in Pennsylvania.
J.J. Abbott, Governor's Office, 717-783-1116
David Smith, DCED, 717-783-1132