Shapiro Administration Invests More Than $6.6 Million Through New PIDA Loans to Help Businesses Grow in Four Counties, Create Jobs for Pennsylvanians

In 2024, PIDA has approved $20,946,040 in low interest loans resulting in $33,415,799 in private investment, the creation of 178 full-time jobs, and retention of 406 existing jobs.

Harrisburg, PA - Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of five new low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to support business expansion and create economic opportunity in four counties. The projects supported through these loans are expected to create at least 28 new, full-time jobs.

In 2024, PIDA has approved $20,946,040 in low interest loans that have resulted in $33,415,799 in private investment and created or retained 584 full-time jobs.

"These recently approved PIDA loans will help businesses in four counties to expand, grow and create new jobs," said Secretary Siger. "The Shapiro Administration is working to transform Pennsylvania into an economic powerhouse and PIDA loans give businesses the tools they need to help make that happen."

The approved projects are as follows:

Dauphin County

• Goddard Holding, LLC, through the Capital Region Economic Development Corporation, was approved for a 15-year, $2.25 million loan at a 3.75 percent reset interest rate to purchase land and construct a 58,080 square-foot, multi-tenant light industrial facility located at the intersection of Allentown Boulevard and South Oak Grove Road in West Hanover Township. The facility will house a building materials wholesale liquidator and a door manufacturing company, both owned by the developer. The total project cost is $5.94 million, and the developer expects to create 25 new full-time jobs.

Delaware County

• Sector Bay, LLC, through the Delaware County Economic Development Oversight Board, was approved for a 10-year, $83,633 PIDA-Pollution Prevention Assistance Account (PPAA) loan at a 2.00 percent interest rate for the purchase and installation of two 80-pound washers, seven 40-pound washers, and two 75-pound dryers for a newly purchased self-service laundromat located at 1936 MacDade Boulevard in Ridley Township. These upgrades are expected to result in a 50 percent reduction in utility expenses for the business. The total project cost is $132,387. Three full-time laundry services jobs will be created through the equipment upgrade.
• Heron Crest Studios, Inc. (doing business as Aston Mills Arts), through the Delaware County Economic Development Oversight Board, was approved for a 10-year, $30,640 loan at a 2.00 percent interest rate to purchase and install two new high-efficiency HVAC systems, smart thermostats, and LED lighting at the Aston Mills Arts studio located at 3100 Mount Road in Aston Township. The studio, which offers year-round creative spaces for artists and hosts public events, has inefficient air conditioning that creates extremely warm conditions during warmer months. The new HVAC systems and lighting will significantly lower energy consumption and maintenance costs and ensure a sustainable and comfortable environment. The total project cost is $55,640.

Erie County

• JEM Erie Realty, LLC, through the Enterprise Development Center of Erie County, Inc., was approved for a 15-year, $2.25 million loan at a 3.75 percent reset interest rate to purchase two, one-story multi-tenant buildings totaling 178,708 square feet at 5650 Wattsburg Road in Millcreek Township. Four existing tenants will occupy 76 percent of the flex industrial space in both buildings, while the vacant space will be leased to additional tenants. The total project cost is $8 million.

Lawrence County

• Wilson Services, LLC, Wilson's Lumber and Building Materials, Inc., Tyler K. Wilson, and Ronald R. Wilson, through the Lawrence County Economic Development Corporation, were approved for a 10-year, $2.024 million loan at a 3.75 percent reset interest rate to purchase and renovate four multi-tenant industrial buildings totaling 81,492 square feet at 3601 Wilmington Road and 3601 Clover Lane in New Castle. The project will add 5,000 square feet of space to a main building. Renovations will include demolition, masonry, steel work, thermal/moisture protection, doors/windows, mechanical/HVAC, plumbing, electrical, and fire suppression. Wilson's Lumber and Building Materials will occupy 57 percent of the space ― the remaining space is currently being leased to four tenants. The total project cost is $5,060,346.

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.

Governor Josh Shapiro's 2024-25 bipartisan budget delivers on key priorities to make Pennsylvania more competitive economically and includes:

• $500 million for site development, including $400 million for the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) program
• $20 million for the Main Street Matters program to support small businesses and commercial corridors that are the backbone of communities across our Commonwealth
• $15 million for tourism marketing to boost our economy, attract more visitors, and support good-paying jobs - building on the Governor's launch of the Great American Getaway brand to encourage tens of millions within a few hours' drive to visit Pennsylvania

Read Pennsylvania's first economic development strategy in 20 years. Get more information on how the Governor's budget will create economic opportunity for all Pennsylvanians.

For more information about the Pennsylvania Industrial Development Authority or DCED, visit DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

MEDIA CONTACT:
Penny Ickes, [email protected]

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