New Low Interest Loans Disbursed To Three PA Companies Through The Pennsylvania Industrial Development Authority

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Governor Tom Wolfe today announced that the Pennsylvania Industrial Development Authority (PIDA) has approved low-interest loans to three businesses located in Bedford, Bucks and Westmoreland counties to help them improve their operations, better serve their customers, and create and retain new ones. workplaces.

“PIDA funding provides valuable assistance to support growing businesses with varying costs associated with improving capabilities and efficiency so that they can continue to meet the needs of their customers and grow even further,” Governor Wolf said. “Providing affordable resources to keep Commonwealth businesses and Pennsylvania residents running is a critical investment in the state’s economy.”

In 2021, PIDA approved US $ 35,683,710 low-interest loans, which resulted in a private investment of US $ 86,964,573 and supported 1,300 full-time jobs created and maintained.

Approved projects:

Bedford County
Weaver’s Sanitation Service, Inc. was approved through the Southern Alleghenies Planning and Development Commission for a 15-year, $ 1.315 million loan with a 1.5 percent payback rate for an 11,520 square foot industrial facility in East Providence. The new facility will consist of five garage sections and offices, while the first floor of the building will have finished office space and a mezzanine on the second floor with utility room and toilets for employees. The total cost of the project is $ 3,527,749 and Weaver Sanitary Services is committed to maintaining its current 38 permanent jobs over three years. Weaver’s Sanitation Service has been a family business for over 50 years that offers weekly household waste collection services as well as commercial and dumpster collection services.

Bucks County
HiMark Windows, LLC, a manufacturer of PVC windows and doors, received a 10-year $ 1 million loan with a 2.5% flat rate through the Bucks County Economic Development Corporation for the purchase of machinery and equipment, including specialized glass-making machines, welding equipment. , and forklifts. The company has faced increased consumer demand over the past few years, and the new equipment runs much faster and allows the company to expand production and keep pace with demand. The total cost of the project is $ 2 million and the company will retain 204 jobs within three years.

Westmoreland County
Quality Support LLC, a manufacturer of wooden shipping crates, through the Economic Growth Connection of Westmoreland obtained a 15-year loan of $ 579,072 with a 1.5% return rate to acquire industrial property located on 6.7 acres in East Huntingdon … The project also includes the construction of a 10,000 square foot steel building and the renovation of four existing buildings with a total area of ​​14,461 square feet. The project will combine four facilities into one large complex that will house all business operations, and when completed, this site will allow the company to streamline and improve its workflow by placing all personnel, materials and equipment in one room, which will allow for growth. and future development. extension. The total cost of the project is $ 1,447,680 and the company has committed to retain 40 full-time employees and create 10 permanent jobs over three years.

For more information on Pennsylvania Industrial Development Authority and other DCED initiatives, visit dced.pa.gov

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