Shapiro Administration Invests More Than $1.2 Million in New PIDA Loans to Spur Business Growth, Create Jobs in Franklin and Westmoreland Counties (2024)

• June 5, 2024

Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of two new low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to support business expansion and create economic opportunity in Franklin and Westmoreland counties. The projects supported through these loans are expected to create 27 new, full-time jobs and retain 10 existing jobs.

In 2024, PIDA has approved $11,628,160 in low interest loans that have resulted in $20,086,789 in private investment and supported 387 created and retained full-time jobs.

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.

“The Shapiro Administration is committed to supporting projects that foster business growth and help strengthen communities across the Commonwealth,” said Secretary Rick Siger. “Investing in business expansion and development to attract new business is a priority of Governor Shapiro and will spur our economy, create and retain good-paying jobs, and help further position Pennsylvania as an economic powerhouse.”

The approved projects are as follows:

Franklin County

• J&J Pallet and Recycling, LLC., through the Franklin County Area Development Corporation, was approved for a 10-year $367,000 loan at a 5.00-percent fixed interest rate to assist in the purchase of an existing 16,400-square-foot facility located in the Cumberland Valley Business Park at 1690 Opportunity Avenue, Chambersburg. J&J Pallet and Recycling, LLC. has outgrown its current rental space and needs its own building for future operation. The company will also be making facility improvements including the purchase and installation of four overhead dock doors, grading of the dock area and placement of a concrete pad for outside storage. The total project cost is $1,780,000. As a result of this project, the company will retain its current 10 full-time jobs.

Westmoreland County

• Real estate developer Weaver Industrial, Inc., through the Economic Growth Connection of Westmoreland, was approved for a 10-year $844,680 loan at a 4.25-percent reset interest rate to assist in the construction of two 12,000 square foot single-tenant warehouse/office buildings inside the Bushy Run Corporate Business Park at 1200 Randall Court in Export. Both buildings will contain finished office and warehouse space and already have prospective tenants. The total project cost is $2,111,700. Although not required for this PIDA project, it is expected that 27 new, full-time jobs will be created.

The Governor’s 2024-25 budget calls for significant investments directly tied back to this ten-year strategy and issues a strong call to action for partners across all sectors to join in with their support. The budget includes: $500 million in PA SITES funding to bring more commercial and industrial sites to Pennsylvania; 25 million for the Main Street Matters program to support small businesses and commercial corridors across the Commonwealth; $20 million to support large-scale innovation and leverage Pennsylvania’s best-in-class research and development assets; and $3.5 million to create and launch the Pennsylvania Regional Economic Competitiveness Challenge to incentivize regional growth.

You can read Pennsylvania’s first economic development strategy in 20 years. For more information on how the Governor’s proposed budget will create opportunity for all Pennsylvanians, visit Governor Josh Shapiro’s Budget website.

For more information about the Pennsylvania Industrial Development Authority or the Department of Community and Economic Development, visit DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

MEDIA CONTACT:
Penny Ickes, dcedpress@pa.gov

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