Governor Wolf: New Low-Interest Loans Awarded to Three PA Companies Through the Pennsylvania Industrial Development Authority
Harrisburg, PA – Governor Tom Wolf 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 jobs.
“PIDA funding provides valuable assistance to support growing businesses with the varying costs associated with improving capabilities and efficiencies so they can continue to meet the demand of their consumers and grow even further,” said Gov. Wolf. “Providing affordable resources that keep commonwealth businesses operating and Pennsylvanians working is a critical investment into the state’s economy.”
In 2021, PIDA has approved $35,683,710 in low-interest loans that have resulted in $86,964,573 in private investment and supported 1,300 created and retained full-time jobs.
The approved projects are as follows:
Weaver’s Sanitation Service, Inc., through Southern Alleghenies Planning & Development Commission, was approved for a 15-year, $1.315 million loan at a 1.5 percent reset rate to construct a 11,520-square-foot industrial facility in East Providence Township. The new facility will consist of five garage bays and offices, and the building will have a first-floor finished office space and a second-floor mezzanine with a utility room and restrooms for employees. The total project cost is $3,527,749, and Weaver’s Sanitation Service has committed to retain their current 38 full-time jobs within three years. A family-owned business for over 50 years, Weaver’s Sanitation Service offers weekly residential waste pick-up and commercial and roll-off dumpster services.
HiMark Windows, LLC — a PVC window and patio door manufacturer — through Bucks County Economic Development Corporation, was approved for a 10-year, $1 million loan at a 2.5 percent fixed rate to acquire machinery and equipment including specialized glass production machines, welding equipment, and lift trucks. The company has experienced increased customer demand over the past few years and the new equipment is much faster and will allow for the company to expand production and keep up with the demand. The total project cost is $2 million and the company will retain 204 jobs within three years.
Wood shipping crate manufacturer Quality Support LLC, through Economic Growth Connection of Westmoreland, was approved for a 15-year, $579,072 loan at a 1.5 percent reset rate to acquire an industrial property located on 6.7 acres in East Huntingdon Township. The project also involves the construction of a 10,000-square-foot cut room steel building and renovations to four existing buildings totaling 14,461 square feet. The project will combine four facilities into one large complex to house all business operations, and once complete, the site will allow the company to facilitate and improve workflow by having all personnel, materials, and equipment in one space, while allowing for future growth and expansion. The total project cost is $1,447,680, and the company has committed to retain 40 full-time employees and create 10 full-time jobs within three years.
For more information about the Pennsylvania Industrial Development Authority or DCED, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, Twitter, and LinkedIn.