Low-interest loans approved by the Pennsylvania Industrial Development Authority (PIDA) will support continued development of two business sites that are projected to bring more than 50 jobs to South Central Pennsylvania.
“The Corbett administration is committed to partnering with our regional private sector partners to create opportunities for new growth and job creation,” Department of Community and Economic Development Secretary C. Alan Walker said. “The loans approved by PIDA will support the region’s efforts to develop sites and bring in new businesses and jobs.”
At its February meeting, PIDA approved nearly $2.2 million in low-interest loans for two projects in Franklin and Huntingdon counties that are projected to create 55 new jobs and result in the retention of 26 employees. The investments will also result in additional private sector funds totaling nearly $3.5 million.
Franklin County Area Development Corporation (FCADC) was awarded a $1.08 million, 15-year loan at 1.5 percent, to purchase an existing 60,000-square-foot industrial facility in Chambersburg Borough. FCADC plans to enter into a lease with Sunset Industrial Applications (SIA) Inc., which has the option of purchasing the building during the lease term. SIA, which provides liquid paint and powder coating services, expects to add 50 new jobs within the next three years. The total project cost is $2.7 million.