Governor Wolf Announces Loan Funding to Beemac Trucking, LLC, Enabling Job Creation in Beaver County
Harrisburg, PA – Today, Governor Tom Wolf announced a low-interest loan approval through the Pennsylvania Industrial Development Authority (PIDA) for Beemac Trucking, LLC in Beaver County. The funding will enable the construction of a new full-service maintenance and repair facility in Ambridge Borough and will support the combined creation and retention of more than 200 full-time jobs.
“This approval provides the critical access to capital that is needed for Beemac Trucking to grow,” Governor Wolf said. “For the past 35 years, this company has had great success in Beaver County, and we are proud to support its expansion and continued growth right here in Pennsylvania.”
Beemac Trucking, LLC provides asset-based trucking, logistics, port, warehousing, and specialized services to customers throughout the United States, Mexico, and Canada. The company was approved for a $1,573,087, 15-year loan at a 3 percent rate through the Beaver County Corporation for Economic Development. The funding will be used for construction of an eight-bay state-of-the-art maintenance facility and a service shop with a 110-space paved truck and trailer marshaling area.
The total project cost is $3,146,173. The project will enable the company to create 24 full-time jobs while retaining 190 full-time jobs within three years.
In 2019, PIDA has approved a total of $21,596,780 in low interest loans that have resulted in $39,022,719 in private investment and supported 643 created and retained full-time jobs. PIDA provides low-interest loans and lines of credit to Pennsylvania businesses that commit to creating and retaining full-time jobs within the commonwealth, as well as for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of certified economic development organizations (CEDOs) that partner with PIDA. PIDA is currently offering interest rates between 2 and 3 percent for applications received by October 1, 2019.
For more information about the Pennsylvania Industrial Development Authority and other Department of Community and Economic Development (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.
J.J. Abbott, Governor’s Office, 717.783.1116
Thais Carrero, DCED, 717.783.1132