Governor Corbett: Crawford County Manufacturer to Expand Operations

HARRISBURG, Pa., May 30, 2013 /PRNewswire-USNewswire/ -- Governor Tom Corbett today announced that Peters' Heat Treating, Inc. will move forward with an expansion that is projected to support the creation of five jobs and the retention of 24 positions in Crawford County.

"Job creation is a top priority of my administration and supporting Pennsylvania's manufacturers is a key to our success," Corbett said. "Our support of this expansion will result in new job creation in the region – and because it's a loan, the funding will be paid back to the commonwealth and reinvested in more job creation projects."

Peters' Heat Treating, a thermal processing manufacturer of ferrous and non-ferrous materials, will purchase and renovate an existing 12,700-square-foot facility in West Mead Township, Crawford County. The company will invest more than $1 million in the project that is expected to create five new jobs and retain 24 existing employees.

The Pennsylvania Industrial Development Authority (PIDA) will provide a $410,000, 15-year, low-interest loan at 1.5 percent, to the Economic Progress Alliance of Crawford County on behalf of Peters' Heat Treating.

To address a key recommendation of the Governor's Manufacturing Advisory Council, the Corbett administration reduced the interest rates of five business loan programs, including the PIDA. The rates were reduced from 2.75 percent to 1.5 percent and fees charged to borrowers were waived. The new rates for PIDA applications expired March 31.

"We have successfully maintained fiscal stability and enacted pro-growth policies to send a strong message that Pennsylvania is serious about job creation," Corbett said. "As a result, more than 125,000 private sector jobs have been created and our labor force has grown by 100,000 to more than 6.5 million."

PIDA provides capital for building acquisition, construction and renovation work, primarily for manufacturers, industrial developers, research and development firms, agricultural processors and employers looking to establish national or regional headquarters in Pennsylvania.

For more information about the Department of Community and Economic Development and other job creation initiatives in Pennsylvania, visit www.newPA.com, follow us on twitter @newPAnews, or call 1-866-466-3972.

Media contact: Edward Jordan, 717-783-1132

SOURCE Pennsylvania Office of the Governor