Pennsylvania Industrial Development Authority Awards Funding to Support Business Expansion, Job Creation in Lebanon and Snyder Counties
Harrisburg, PA (STL.News) Governor Tom Wolf announced two new low-interest loan approvals through the Pennsylvania Industrial Development Authority (PIDA) that will assist in the construction of a produce growing, processing, and warehouse facility in Snyder County and the demolition, renovation, and construction of an existing manufacturing property in Lebanon County that could create a combined over 60 full-time jobs.
“Agriculture and manufacturing are two of our commonwealth’s proudest and strongest industries and they need our continued support as they grow and expand, especially now as our economy navigates a pandemic,” said Gov. Wolf. “These projects will bring major investments into central Pennsylvania, supporting local farming, processing, and distribution and a decades-old, locally-owned hand lettering sign business.”
In 2020, PIDA has approved $28,833,617 in low-interest loans that have resulted in $47,097,465 in private investment and supported 1,056 created and retained full-time jobs.
PENN Greenhouse, LLC, through SEDA – Council of Governments, was approved for a $2.25 million PIDA real estate loan at a 15-year, 0.75 percent reset interest rate and a $700,000 PIDA machinery and equipment loan at a 10-year, 1.75 percent fixed interest rate to construct a 263,000 square foot growing, processing, and warehouse facility and installation of new processing equipment located on Lorain Drive in Penn Township. PENN Greenhouse specializes in on-site growing, cleaning and packaging of leafy vegetables for immediate distribution and is a wholly-owned subsidiary of BrightFarms, Inc., a national provider of leafy vegetables specializing in serving local divisions of national supermarkets, cutting time, distance, and land and water usage from the produce supply chain. The expansion will create 59 new jobs in three years and the total project cost is $19,967,312.
Horst Signs, through the Lebanon Valley Economic Development Corporation, was approved for a $1,214,850 PIDA loan at a 15-year, 0.75 percent reset interest rate for the demolition of a portion of an existing building, the renovation of the remaining 18,653 square foot property, and a 18,703-square-foot addition to be constructed on the renovated space located on Lincoln Avenue in Jackson Township. This will provide 37,454 square feet of newly renovated and constructed space for the well-established manufacturing business. The expansion will create four new jobs in three years and the total project cost is $2,462,515.