Pennsylvania economic development officials recently announced $4.2 million in business incentives to various companies through the Pennsylvania Industrial Development Authority (PIDA).
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 in Pennsylvania.
Throughout its 50-year history, PIDA has invested more than $2.3 billion—leveraging an additional $7.2 billion in local and private capital—to build more than 300 industrial parks and business incubators across the state. On average, PIDA invests $46.5 million annually. It has also helped to create and retain more than 800,000 jobs throughout Pennsylvania.
PSB Industries Inc., a dehydration/purification system manufacturer, will receive a $976,500 PIDA loan for the expansion and renovation of its facility in the city of Erie. The company currently operates in 12 buildings with 300,000 square feet. The funding will allow for upgrades to the current site, as well as a 50,000-square-foot expansion means PSB will be able to add 21 new workers to the 45 it currently employs.
This investment is part of a Governor’s Action Team funding package totaling more than $1.6 million. EIDCO Inc. is the local sponsoring agency.
Troupe Road Warehousing LTD, beneficial owner of Port Erie Plastics Inc., will receive a $760,000 PIDA loan for the construction of a 75,000-square-foot warehouse in Harborcreek Township.
Port Erie Plastics, a custom-molded plastic product manufacturer, has two warehouses that each total 100,000 square feet. It also has a manufacturing facility with 300,000 square feet. The $1.9 million project will help to retain 248 jobs. EIDCO Inc. is also sponsoring this project.
Auntie Anne’s Food Inc., a soft pretzel franchisor, will receive a $1.52 million PIDA loan to renovate a portion of the city of Lancaster’s former U.S. Post Office. Upon completion, the facility will house Auntie Anne’s corporate offices.
The $5 million project will redevelop 53,152-square-feet of the site, create eight jobs and retain 109 jobs. The investment is part of a Governor’s Action Team funding package totaling more than $2.8 million. The Lancaster EDC is the sponsoring agency.
Darrell & Julianne Kohler, beneficial owners of West Side Wood Products Inc., will receive a $945,000 PIDA loan for the construction of six buildings at the Auburn Business Park in West Brunswick Township. West Side Wood Products -- a pallet, box and crate manufacturer -- will create three storage buildings, two manufacturing buildings and an office building totaling 57,900 square feet.
Upon completion of the $2.7 million project, the company will transfer its 15 current employees to the new site and create at least 12 new jobs. The Schuylkill Economic Development Corporation is the local sponsoring agency.
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