PIDA approves four low-interest loans

The Pennsylvania Industrial Growth Authority (PIDA) not too long ago accredited 4 new low-interest loans.

To this point this 12 months, PIDA has accredited $42.8 million in low-interest loans.

Van Industries in Berks County, via the Better Berks Growth Fund, obtained a $795,175 mortgage to buy a fiber high-speed laser cutter. The acquisition will enable the corporate to broaden manufacturing. The undertaking prices complete $1.6 million and is anticipated to create 5 full-time jobs and retain 25 present positions.

The Regional Industrial Growth Company Southwestern PA Progress Fund in Lawrence County, via the RIDC of Southwestern PA, obtained a $2.25 million mortgage to buy 247 acres. The company will growth the land into an industrial park. The undertaking prices $3 million.

The Better Hazleton Neighborhood Space New Growth Group in Luzerne County obtained a $2 million mortgage to assemble a 47,000-square-foot single tenant manufacturing facility. The undertaking prices $7.3 million. The tenant is anticipated to create 50 full-time jobs inside three years.

Wyatt in Westmoreland County, via the Financial Progress Connection of Westmoreland, obtained a $2 million mortgage to assemble a 132,053-square-foot manufacturing facility. The undertaking prices $13.06 million and is anticipated to create 15 full-time jobs and retain 85 present positions.

 

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