Shapiro Administration Invests More Than $7.4 Million Through New PIDA Loans to Create Jobs, Help Businesses Grow in Four Counties

The projects supported by these loans through the Pennsylvania Industrial Development Authority (PIDA) will inject more than $36.2 million into the economy, create 37 new jobs, and retain 60 existing positions.

Since the Shapiro Administration took office in 2023, PIDA has approved $172,367,614 in low-interest loans that have resulted in $447,637,686 in private investment, the creation of 1,537 full-time jobs, and the retention of 2,750 existing jobs.

Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of more than $7.4 million in new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to help support business growth in Allegheny, Bucks, Lancaster, and Susquehanna counties. Together, these projects will inject more than $36.2 million into the local economy, create 37 new, full-time jobs, and retain 60 existing jobs.

Governor Josh Shapiro is making Pennsylvania an economic development leader by investing in growing businesses, supporting manufacturing and other key industries, and creating real opportunities for Pennsylvanians.

Since 2023 under the Shapiro Administration, PIDA has approved $172,367,614 in low-interest loans that have resulted in $447,637,686 in private investment, the creation of 1,537 full-time jobs, and retention of 2,750 existing jobs.

“Through PIDA, we’re helping to grow Pennsylvania businesses, strengthen our economy, and create good-paying jobs across the Commonwealth.” said Secretary Siger. “By partnering with businesses that are ready to invest in Pennsylvania, we’re creating real opportunities for workers and building a stronger economic future for the Commonwealth.”

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.

The approved projects are as follows: 

Allegheny County

• 1005 Aluminum Way LLC, through the Regional Industrial Development Corporation of Southwestern PA, was approved for a 15-year, $2,250,000 loan at a 5.25 fixed interest rate to construct a 108,000-square-foot multi-occupancy building at 1005 Aluminum Way in Findlay Township. The facility will provide flexible space to attract new advanced manufacturing and technology tenants to the Neighborhood 91 campus at Pittsburgh International Airport. The total project cost is $12,592,698.

Bucks County

• EverWhite Corporation, through the Bucks County Industrial Development Authority, was approved for a 10-year, $1,325,000 loan at a 4.25 reset interest rate to assist with the purchase of a 14,440-square-foot manufacturing and warehouse facility located at 171 Railroad Drive in Northampton Township. EverWhite is experiencing strong demand, and its current facility does not provide sufficient space to support the company’s operational and warehousing needs, limiting its growth potential. The two-acre site also offers room for future building expansion. As part of this project, the company will create 20 new, full-time jobs over the next three years and retain 27 existing positions. The total project cost is $2,650,000.

Lancaster County

• Reist Popcorn Company, through the EDC Finance Corporation, was approved for a 15-year, $500,000 loan at a 5.25 fixed interest rate to assist with the acquisition of a 17,052 square-foot facility at 131 Manheim Street in Mount Joy Borough. This facility , which contains multiple properties and is adjacent to the company’s current location at 113 Manheim Street, will add additional infrastructure, bins, and grain storage immediately. The company plans to develop the site and purchase machinery next year for extra processing capacity. As part of this project, Reist Popcorn Company will create three new, full-time jobs over the next three years and retain 17 existing positions. The total project cost is $1,000,000.
• Strickler Investments LLC, through the EDC Finance Corporation, was approved for a 10-year, $2,250,000 loan at a 4.25 reset interest rate to construct a new five-story, 73,000-square-foot office/warehouse building located at 1320 Strickler Road in Rapho Township. The facility will consist of 35,000 square feet of office space, 38,000 square feet of warehouse space, and will sit on 7.8-acres of land. The total project cost is $17,155,950.
• Volley LLC, through the EDC Finance Corporation, was approved for a 10-year, $1,030,000 loan at a 4.25 reset interest rate to assist with the acquisition and renovation of a 17,228-square-foot building at 3040 Industry Drive in East Hempfield Township. The company has operated out of a larger facility in Lancaster that they recently sold to tenant Concordia Holdings, LLC. As part of this project, Volley LLC will create 11 new, full-time jobs over the next three years and retain 14 existing positions. The total project cost is $2,578,200.

Susquehanna County

• RT Performance Engineering LLC, through the Central Bradford Industrial Development Corporation, was approved for a 10-year, $97,426 loan at a 5.00 percent fixed interest rate to finance the purchase of used machinery and equipment, as well as the installation and building modifications that are related to the machinery purchase. The machinery will be installed at their facility located at 271 SR 2016 in Lenox Township. As part of this project, RT Performance Engineering will create three new, full-time jobs over the next three years and retain two existing positions. The total project cost is $309,676.

Since taking office, Governor Shapiro and his Administration have secured over $41 billion in private sector investments, creating more than 23,200 jobs. Analysis from Moody’s Analytics Chief Economist Mark Zandi confirms that Pennsylvania remains the only state in the Northeast with a growing economy.

Governor Shapiro is committed to making Pennsylvania an economic development leader ― his 2026-27 state budget proposal continues to focus on boosting the Commonwealth’s economic potential and growing the economy.

For more information about DCED, visit the agency’s website, Facebook, X, and LinkedIn.

MEDIA CONTACT:
Penny Ickes, dcedpress@pa.gov