Department of Community and Economic Development Acting Secretary Dennis Davin said on Thursday that new state investments approved by the Pennsylvania Industrial Development Authority (PIDA) will support continued business growth across the Commonwealth.
PIDA approved nearly $1.39 million in low-interest loans for four projects in Bedford, Dauphin, Lancaster and Northampton Counties earlier this week. The projects are expected to bring in more than $4.6 million in investments.
“The projects approved by the PIDA board this month are receiving the critical capital needed to support the growth of their companies,” Davin said. “Not only does this grow business, but it helps small businesses support good-paying jobs.
In Bedford County, the Southern Alleghenies Planning and Development Commission was awarded a $400,000, 12-year loan at 2.25 percent.
The Capital Region Economic Development Corporation in Dauphin County was awarded a $273,000, 10-year loan at 3 percent.
In Lancaster County, EDC Finance Corporation was awarded a $325,000, 15-year loan at 2.25 percent.
In Northampton County, the Northampton County New Jobs Corporation was awarded a $400,000, seven-year loan at 3 percent.
So far this year, PIDA has approved $18.55 million in low-interest loans that have resulted in $34.95 million in private investment and supported 892 created and retained jobs.
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