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…