Governor Wolf Announces New Loans for Businesses in 3 Pennsylvania Counties

Governor-Wolf-Speaking-From-PodiumImage via Pennsylvania Office of the Governor

PENNSYLVANIA — Governor Tom Wolf announced the approval of three new low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to support business growth in three Pennsylvania counties that will help create and retain 79 total jobs.

“The PIDA loans approved… provide the resources these companies need to grow and succeed in Pennsylvania,” said Gov. Wolf. “My administration has been steadfastly committed to investing in businesses across the commonwealth to grow our business sector, maintain a healthy business climate, and encourage the creation of family sustaining jobs for Pennsylvanians.”

To date in 2022, PIDA has approved $52,528,762 in low-interest loans that have resulted in $111,744,897 in private investment and supported 1,225 created and retained full-time jobs. Since 2015, PIDA has approved $414,307,039 in low-interest loans that have resulted in $839,726,066 in private investment and supported 15,990 created and retained full-time jobs.

The approved projects are as follows:

Adams County

Little Life Enrichment Center, through the Adams County Economic Development Corporation, was approved for a 15-year $400,000 loan at a 4.75% fixed interest rate to expand the existing 13,436-square-foot childcare facility located at 125 Dogwood Court in Hamilton Township by constructing a 4,495-square-foot addition to the original structure. The total project cost is $855,000 and the company will retain 29 full-time jobs.

Dauphin County

Youveau Aesthetics LLC, through the Capital Region Economic Development Corporation, was approved for a 15-year $180,000 loan at a 3.0% reset interest rate to acquire and renovate a building located at 2417 North Front Street, Harrisburg. The acquisition of this building will allow for the expansion of the company, providing enough room to accommodate the company’s current employee with room for three additional employees who will start once the move is complete. The total project cost is $446,000.

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Luzerne County

Ashley Machine & Tool Co., through the Northeastern Pennsylvania Alliance, was approved for a 15-year $527,100 loan at a 3.0% reset interest rate to acquire and renovate a 43,084-square-foot facility located at 1450-1460 Shoemaker Avenue in West Wyoming Borough. The total project cost is $1,419,000 and the company has committed to create seven new, full-time jobs and retain 43 employees within three

years.

Gov. Wolf has served for two terms as a leader consistently at work for the people of Pennsylvania. Learn more about how his Priorities for Pennsylvania have fueled the commonwealth’s comeback, leaving Pennsylvania in a much better place than when he arrived.

For more information about the Pennsylvania Industrial Development Authority and other Department of Community and Economic Development programs and initiatives, visit the DCED website.

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