Medical and pharmaceutical manufacturer Minrad Inc. will receive an $875,000 loan from the Pennsylvania Industrial Development Authority (PIDA) to build a new facility next to its current site in Bethlehem, Pa.

The Northampton County-based company will use the loan to help finance a new, 22,000 square foot facility that will house additional manufacturing equipment and a temperature-controlled warehouse. The nearly $4.4 million project will create and retain more than 50 jobs.

The loan was part of a $2.35 million funding package offered by the Governor’s Action Team in November 2005. The Northampton County New Jobs Corp. sponsored the company’s application.

Minrad Inc. is an innovator in acute care medical devices and pharmaceuticals. The company’s pharmaceutical products are generic inhalation anesthetics that are primarily used for surgical interventions.

Working through local industrial development corporations, PIDA provides low-interest loans for land and building acquisition, or construction and renovation projects. PIDA targets manufacturers, industrial developers, research and development firms, agricultural processors and employers establishing national or regional headquarters within the commonwealth.

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