PIDA approves 3 new loans to support business growth
The Pennsylvania Industrial Development Authority (PIDA) recently approved three new low-interest loans to support growing businesses in three counties.
Plum Creek Farm in Berks County, through the Greater Berks Development Fund, has received $400,000 loan approval to build a 4,800 square foot pretzel manufacturing plant . The project will cost $1.07 million and will create 15 full-time jobs within three years while retaining 16 positions.
Gibson-Thomas Engineering Co. in Fayette County, through Southwestern Pennsylvania Corp., secured a $270,000 loan to purchase a 10,994 square foot office building.
The project will cost $600,000 and will create seven full-time jobs within three years while maintaining seven positions.
Superior Fine Grind in Westmoreland County, through Southwestern Pennsylvania Corp., secured a $391,480 loan to construct a 7,700 square foot building. The project will cost $869,955 and will create six full-time jobs within three years while maintaining five positions.
“Ensuring Commonwealth businesses have the ability to grow and develop is vital to our economy, our communities and our livelihoods,” Governor Tom Wolf said. “The PIDA loans approved today will provide the resources these businesses need to continue to be successful here in Pennsylvania.”
PIDA has approved $400.6 million in low-interest loans since 2015, including $38.8 million this year.