Governor Wolf Announces Funding to Help Businesses Grow and Create Jobs in Northampton and Philadelphia Counties
Harrisburg, PA –Governor Tom Wolf today announced that the Pennsylvania Industrial Development Authority (PIDA) has approved two low-interest loans to businesses in Northampton and Philadelphia counties, allowing them to expand their operations and create new jobs.
“PIDA loans are a critical tool that companies can use when they need help growing and expanding their operations,” said Gov. Wolf. “The two projects approved today will create dozens of new jobs, streamline business operations, and increase space and bandwidth to keep up with growing demand for services and products.”
In 2021, PIDA has approved $32,568,110 in low-interest loans that have resulted in $82,642,973 in private investment and supported 1,251 created and retained full-time jobs.
The approved projects are as follows:
D. Gillette Industrial Services, Inc. (DGI), through Lehigh Valley Economic Investment Corporation, was approved for a 10-year, $380,000 loan at a 2.5 percent fixed rate to acquire a 26,227-square-foot industrial multi-building warehouse and office facility in Forks Township. DGI is a manufacturing company specializing in the design, fabrication, repair, and supply of assembly parts and equipment for the lifecycle sustainment of military customer assets.
Due to significant growth over the past few years, DGI has outgrown its current 9,000-square-foot facility and relocating to the new project facility will allow the company to increase its production capacity and keep up with demand. The project site sits on two adjacent lots, totaling just over three acres. The adjacent lot will allow for additional expansion in the future as the company continues to take on larger contracts. The company plans to expand its workforce adding six new full-time jobs over the next three years, and the total project cost is just over $1 million.
Olivieri & Associates Incorporated, through PIDC Financing Corporation, was approved for a 10-year, $1 million loan at a 2.5 percent fixed rate to acquire 2.8 acres and construct a 12,250-square-foot building in the City of Philadelphia. The company is a full-service construction firm. The new location will become the new headquarters and will allow the company to increase their outdoor storage/parking space and consolidate operations. The building will be mixed use consisting primarily of warehouse and office space. The total project cost is $2.85 million, and the company will create 15 and retain 10 full-time jobs within three years as a result of this project.
For more information about the Pennsylvania Industrial Development Authority and other DCED initiatives, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, Twitter, and LinkedIn.