$400,000 in Funding Announced to Support Agricultural Project in Chester County

moneyImage by Christoph Meinersmann

HARRISBURG, PA — Governor Tom Wolf recently announced that Stephen and Lydia Smucker, through the Chester County Economic Development Council, were approved for a First Industries Fund (FIF) loan in the amount of $400,000.

The loan proceeds will be used for the acquisition of a 49.1-acre farm. The project site is located at 1191 Gap Newport Pike, Highland, West Fallowfield and Londonderry Townships, Chester County.

The award was part of a total $2 million in funding for five agricultural projects through the First Industries Fund. The projects, located in four counties, will help existing farms expand their operations and bring in additional revenue.

“Pennsylvania’s economy is deeply rooted in the agriculture industry and supporting projects that spur growth in these communities is important,” said Gov. Wolf. “The funding provided by the First Industries Fund helps farmers in the commonwealth grow their operations. Ensuring our farmers thrive is an investment in Pennsylvania’s future.”

For more information about First Industries Fund or the Commonwealth Financing Authority, visit the DCED website.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News.

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