Eastern Engineered Wood Products (EEWP) recently secured approval of a $2,250,000 loan from the Pennsylvania Industrial Development Authority (PIDA). The company will use the loan to consolidate their three existing facilities into a 30-acre plus, state-of-the-art facility in Lehigh Valley Industrial Park VII at the former site of Bethlehem Steel in Bethlehem, Pa.

The remainder of nearly $13 million in project costs will be contributed by Penn Vest and private investment.

Currently EEWP has operations in Allentown and Bethlehem. The three existing facilities that are scattered over the Lehigh Valley hinder EEWP’s ability to conduct business safely, efficiently and restrict growth, according to the company. The consolidation is meant to reduce operating costs, improve safety and provide a better atmosphere for the company’s expanding work force.

The new location is conveniently located next to I-78 to accommodate inbound and outbound shipments. EEWP’s land acquisition will house a 12,000 square foot office building, a 43,000 square foot warehouse and two 12,000 square foot sheltered processing areas. The project will also help add 26 jobs within the next three years and 40 to 45 jobs total beyond their current employment base as a result of future expected sales increases.

“This economic development tool is just one of many that LVEDC implements on behalf of the Commonwealth to the betterment of businesses and employees in the Lehigh Valley,” said Janet Smith, Senior Vice President of Finance and Administration for Lehigh Valley EDC.

LVEDC administers the state’s PIDA loan program in the Lehigh Valley and worked with Eastern Engineered Wood Products on its recent loan application. The PIDA program offers low interest loan financing in the Commonwealth for the purpose of land and building acquisition, construction and renovation, resulting in the creation and retention of jobs.

The PIDA loan for Eastern Engineered Wood Products carries a 4.25 percent interest rate for a term of 15 years.

Eastern Engineered Wood Products is a wholesale specialty distributor of engineered wood products in the Northeastern U.S. Incorporated in Pennsylvania in 1998 with only 15 employees, EEWP has quadrupled its work force and doubled sales over the past three years.

The company designs products for residential and light commercial construction that are then sold to the professional contractor trade through a network of retailers. The organization’s services include technical design and CAD services, customizing product size on individual projects and the practice of just-in-time delivery.

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