Governor Tom Wolf announced Wednesday the approval of three new low-interest loans through the Pennsylvania Industrial Development Authority to support business growth in three counties across Pennsylvania that will help create and retain 56 jobs.
“Ensuring companies across the commonwealth have the ability to grow and expand is vital to our economy, our communities, and our livelihoods,” said Gov. Wolf. “The PIDA loans approved today will provide the resources needed for these companies to continue to see success here in Pennsylvania.”
To date in 2022, PIDA has approved $38,844,518 in low-interest loans that have resulted in $81,724,754 in private investment and supported 942 created and retained full-time jobs. Since 2015, PIDA has approved $400,622,795 in low-interest loans that have resulted in $809,705,923 in private investment and supported 15,707 created and retained full-time jobs.
In Berks County, Plum Creek Farm, LLC, through the Greater Berks Development Fund, was approved for a 15-year $400,000 loan at a 3.5 percent fixed interest rate to construct a 4,800-square-foot pretzel manufacturing facility located at 5035 Bernville Road in Penn Township. The total project cost is $1,074,400 and the company has committed to create 15 new, full-time jobs and retain 16 jobs within three years. The company previously received a $1 million PIDA loan in 2019.
In Fayette County, Gibson-Thomas Engineering Co., through the Southwestern Pennsylvania Corporation, was approved for a 15-year $270,000 loan at a 3.0 percent reset interest rate to purchase a 10,994-square-foot office building located at 2200 University Drive, Lemont Furnace in North Union Township. The total project cost is $600,000 and the company has committed to create seven new, full-time jobs and retain seven employees within three years.
In Westmoreland County, Superior Fine Grind, LLC, through the Southwestern Pennsylvania Corporation, was approved for a 15-year $391,480 loan at a 3.0 percent reset interest rate to construct a 7,700-square-foot building located at 1565 Mount Pleasant Connellsville Road in East Huntingdon Township. The total project cost is $869,955 and the company has committed to create six new, full-time jobs, and retain five employees within three years.
