Governor Rendell Says Latest $1.6 Million Investment Strengthens Ag, Tourism Industries in Adams, Lancaster, Westmoreland Counties

News provided by

Pennsylvania Department of Community & Economic Development

Feb 19, 2010, 12:40 ET

HARRISBURG, Pa., Feb. 19 /PRNewswire-USNewswire/ -- New state investments designed to strengthen the tourism and agriculture industries will help build a crop storage and processing facility in Adams County, aid in the purchase of a vacant hotel facility in Westmoreland County, and bring "heritage" tourists to Lancaster County, Governor Edward G. Rendell said today.

"These investments, totaling $1.6 million in support for our two largest industries, demonstrate state government's continued commitment to strengthening agriculture and tourism," said Governor Rendell after the Commonwealth Financing Authority approved the projects this week. "These projects are creating jobs, bringing visitors and their tourism dollars into the state, and helping sustain our rural communities."

The CFA-approved funds are from the state's First Industries Fund program, which offers loans, loan guarantees and grants to bolster Pennsylvania's agriculture and tourism industries by encouraging rural economic development and job creation. At Wednesday's monthly meeting, the CFA approved loans and guarantees for three projects in Adams, Lancaster and Westmoreland counties that will leverage an additional $3.2 million in private investments.

One of the projects, a machinery and equipment loan for $914,040 was awarded to Bream & Bear Operating Co. LLC and Bream & Bear Ltd. for their apple growing, storing and processing facility. The loan will be applied to the $1.8 million purchase price for construction equipment to build the 36,984-square-foot, 275,000-bushel state-of-the-art cold apple storage facility in Biglerville, Adams County.

A First Industries Small Business First Tourism loan for $200,000 was awarded to the EDC Finance Corp. on behalf of the Ackermann Holdings LLC o/b/o The Amish Village Corp., which operates primarily as a tourist destination that focuses on the PA Dutch lifestyle and Amish community. The loan will be used for the $600,000 purchase of the existing business and real estate in Ronks, Lancaster County.

The Commonwealth Financing Authority also approved a $562,500 tourism loan guarantee for Tydemac Land Co. LLC and Tydemac Hospitality LLC toward the $2.4 million purchase of an existing vacant hotel facility in Unity Township, Westmoreland County. The First Industries Tourism Loan guarantee will be used to provide a 50 percent guarantee of a $1.1 million loan from Enterprise Bank.

For more information on state investment programs available through the Department of Community and Economic Development, visit www.newpa.com or call 1-866-466-3972.