Pennsylvania Governor Edward G. Rendell said July 14 that the commonwealth is supporting the manufacturing sector through targeted investments that now are helping eight Pennsylvania companies create 118 jobs and retain 307 positions.
"We are working to create an environment where businesses can succeed," said Governor Rendell as he announced the latest round of Pennsylvania Industrial Development Authority loans. "From easy access to investment capital to one of the nation's most competitive tax environments, businesses are finding the tools they need to succeed in Pennsylvania. That means more opportunities for our working men and women.
"The investments I'm announcing today show how the state's resources can be used to improve the quality of life for many people. The low-interest loans we're providing will help these eight companies grow and create new jobs. At the same time, the financial support will mean a larger tax base for the commonwealth, as well as future gains from interest payments."
Working with local economic development organizations, PIDA recently approved nearly $7 million in loans to companies in the following counties:
Allegheny County: Tes Tex Inc. will receive a $608,629 PIDA loan to relocate the current operation and its 44 existing employees to a larger facility in Plum Township. The project, sponsored by the Monroeville Area Industrial Development Corporation, is expected to create 20 new jobs for the company. Tes Tex designs and develops electromagnetic, non-destructive testing equipment to monitor process plant equipment.
Blair County: ORX Railway Corporation, North America's largest independent railroad wheel set manufacturer, will receive a $2.25 million PIDA loan to expand their 80,000-square-foot facility at Peterson Industrial Park in Tipton. The project is expected to create 15 new jobs and retain 52 positions. The investment is part of a $3.5 million funding package offered through the Governor's Action Team. The Altoona-Blair County Development Corporation is the sponsoring local development agency.
Bucks County: Fiberglass Technologies Inc. will receive a $420,000 loan to relocate the architectural fiberglass manufacturer to a new facility in Levittown. The new location will allow the company to increase production, as well as add a new division. This project, sponsored by the Bucks County Economic Development Corporation, is expected to create six new jobs and retain another half-dozen posts.
Crawford County: Viking Tool & Gage Inc. was loaned $180,000 to expand their current 52,500-sq.-ft. Conneaut Lake site. The Meadville Area Industrial Commission- sponsored project will retain its 91 employees and will create an expected six new jobs. The company fabricates metals and supplies dies, fixtures and spare parts to the automotive, robotics and fiber optics industries.
Lawrence County: SRF America LLC, a manufacturer, designer and distributor of single cooling and packaged cooling products, will receive a $253,474 loan for a 13,280-sq.-ft. expansion to their current facility in New Castle. The project is expected to create 13 new jobs and retain another 12. Today's announcement is part of a $3.86 million Community Action Team package the Governor announced in December 2005. The Lawrence County Economic Development Corporation sponsored this expansion project.
Mifflin County: FoxPro Inc., manufacturers of hunting and wildlife animal calls, will receive a $300,000 loan through PIDA. The company plans to relocate its 36 employees to a larger facility in Lewistown and expects to create 10 new jobs. The Mifflin County Industrial Development Corporation is the sponsoring local development agency.
Northampton County: Eastern Engineered Wood Products LLC, a wood products company, currently operates three facilities in two municipalities. With help from a $2.25 million PIDA loan, the company plans to consolidate and relocate its operations and 63 employees to a 30-acre site in Bethlehem. The relocation is expected to result in 26 new jobs and is sponsored by the Northampton County New Jobs Corporation. The allocation is part of a $9.86 million Governor's Action Team investment package.
Philadelphia County: Stelwagon Roofing Supply Inc., a roofing supplies and materials distributor, will receive a $720,000 PIDA loan to develop a new facility in the Red Lion North Industrial Park. The company currently operates three facilities, which it will retain following the move into the new 6,000-square- foot facility. The project is expected to create 22 new jobs and retain 3 employees. PIDC Financing Corporation is the sponsoring local development agency.
The Pennsylvania Industrial Development Authority provides low-interest loans through local industrial development corporations for land and building acquisition and construction or renovation. The program targets manufacturers, industrial developers, research and development firms, agricultural processors and employers establishing national or regional headquarters here.
In its 50-year history, the authority has invested $2.3 billion, which has leveraged an additional $7.2 billion in local and private capital, to build more than 300 industrial parks and business incubators in the commonwealth. On average, PIDA invests an average of $46.5 million annually to help create and retain more than 800,000 jobs throughout Pennsylvania.
For information on PIDA and other DCED programs, visit http://www.newpa.com/ or call 1-866-GONEWPA.
The Rendell Administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit http://www.governor.state.pa.us/.