HARRISBURG, PA — Three Pennsylvania businesses will receive more than $4.1 million in state-backed loans to support expansion projects expected to create jobs and inject more than $15 million into local economies in Bucks, Erie, and Lancaster counties.
What This Means for You
- The state approved more than $4.1 million in low-interest loans for business expansion projects.
- The projects are expected to create 34 jobs and retain 98 existing positions.
- Investments tied to the loans could generate more than $15 million in economic activity.
The Pennsylvania Department of Community and Economic Development announced the loan approvals through the Pennsylvania Industrial Development Authority, a state program that provides low-interest financing to support business growth and job creation.
Secretary Rick Siger said the projects will help companies expand operations and strengthen supply chains across several regions of the state.
“These new PIDA loans are strategic investments that will help drive business expansions, create good-paying jobs, and strengthen local supply chains in Bucks, Erie, and Lancaster counties,” Siger said.
State Financing Program
The Pennsylvania Industrial Development Authority provides loans and lines of credit to businesses that commit to creating or retaining full-time jobs.
Eligible uses for the financing include purchasing land or buildings, construction and renovation projects, machinery and equipment purchases, and working capital.
Officials said projects supported by the newly approved loans are expected to generate more than $15.2 million in economic activity while creating 34 jobs and retaining 98 existing positions.
Since 2023, the program has approved more than $161.4 million in loans statewide, supporting over $412.7 million in private investment and contributing to the creation of 1,349 jobs while retaining 2,394 positions.
Projects Approved
The approved financing will support three separate business expansion projects across Pennsylvania.
In Bucks County, The Two Little Guys Company received a 15-year, $1,220,000 loan through the Bucks County Industrial Development Authority to purchase an industrial facility at 1324 Adams Road in Bensalem. The company plans to relocate its headquarters from New Jersey to the site and expand manufacturing operations. The project has a total estimated cost of $3,050,000.
In Erie County, Erie Cotton Products Inc. received a 15-year, $890,000 loan through the Enterprise Development Center of Erie County to purchase a 40,212-square-foot building at 1705 Raspberry Street in Erie. Officials said the facility will provide warehouse space, loading docks, and office areas needed to support increased demand for the company’s products. The total project cost is $2,225,000.
In Lancaster County, Visual Solutions Group LLC received a 10-year, $2,000,000 loan through EDC Finance Corporation to purchase a 72,141-square-foot facility at 1811 Rohrerstown Road in Lancaster. The company currently leases most of the building and plans to acquire the property to support its operations producing custom signs, banners, and graphics. The project’s total cost is estimated at $10,000,000.
State officials said the loans are part of broader efforts to support business expansion and economic development across Pennsylvania.
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