New Pennsylvania State Investments Promote Expansion Among Many Different Industries

HARRISBURG, Pa., July 8 /PRNewswire-USNewswire/ -- Pennsylvania will help more farmers build their businesses, construct an education center at the site of a former Bethlehem Steel plant in Northampton County, and develop new business parks through new investments and guarantees announced today by the Department of Community and Economic Development.

The Commonwealth Financing Authority approved nearly $3 million in loans, $3 million in loan guarantees, and $400,000 for site studies. The funding, approved on July 7, will benefit 13 different projects.

"In this economy, it is imperative that Pennsylvania show its support for agriculture and companies that are working to grow their businesses," said Department of Community and Economic Development Secretary Austin Burke, who is also a member of the CFA board. "We are providing vital capital that will not only help businesses and farmers, but will also provide jobs for our hardworking men and women."

The funding was approved through the state's First Industries, Building PA, and Business in Our Sites programs.

Pennsylvania's First Industries program provides loans, loan guarantees and grants to strengthen the commonwealth's agriculture and tourism industries. Building PA provides capital for real estate developers in small and mid-sized communities, while Business in Our Sites provides needed dollars for developing land into shovel-ready parcels for companies looking to start, expand or move.

For more information, call 1-866-466-3972 or visit www.newpa.com.

Editor's Note:  The projects approved by the Commonwealth Financing Authority on July 7 are listed below:

Blair County

Altoona-Blair County Development Corp. received a $115,500 Business in Our Sites grant to pay for engineering and geotechnical investigations for the second phase of the Walter Business Park.

Bucks County

Ely Pork Products received a $230,000 First Industries loan to help pay for more than $600,000 worth of solar equipment for a solar panel field along Woodhill Road in Newtown.

Cambria County

Maryann and William Kiel received a $199,500 First Industries loan to buy a 122-acre dairy farm in Lilly. Southern Alleghenies Planning and Development Commission applied for the funding on behalf of the Kiels.

Jefferson County

Scottish Heights Associates received a $75,000 First Industries loan to expand its restaurant and renovate its lodge in Brockport. North Central Pennsylvania Regional Planning and Development Commission applied for the funding on behalf of the company.

Lackawanna County

Bo Brothers received a $70,000 First Industries loan to buy equipment for its Moosic operation. MetroAction Inc. applied for the funding on behalf of the company.

Lancaster County

Philip and Louise Hoover received a $200,000 First Industries loan to buy a 34-acre farm in Elizabethtown.

Dean and Angela Stoner received a $200,000 First Industries loan to buy a 20-acre parcel in Mount Joy. EDC Finance Corp. applied for the funding on behalf of the Hoovers and Stoners.

Mercer County

Penn-West Development Corp. received a $129,360 Business in Our Sites grant to conduct a feasibility study, a geotechnical investigation, and an environmental assessment for the development of a master plan for the Northeast Quadrant Exit 15 off I-80.

Mifflin County

R. Galen Groff received a 50 percent First Industries guarantee on a $285,000 loan from AgChoice Farm Credit, which will help to pay for the construction of a dairy barn and related costs.

Northumberland County

Middlecreek Poultry, and Benjamin and Rebecca Spickler received a 50 percent First Industries guarantee on a $590,000 loan from AgChoice Farm Credit, which will help to pay for the construction of two broiler chicken houses.

Northampton County

PBS39 Foundation Corp. received a 40 percent First Industries guarantee on a $6.25 million loan from Univest National Bank and Trust, which will help to pay for the construction of a public media and education center at the site of a former Bethlehem Steel plant.

Philadelphia County

Campus Realty Partners received a $2 million Building PA loan to help pay for the construction of a Hilton Homewood Suites extended-stay hotel in Philadelphia. The hotel, within walking distance of the University of Pennsylvania and Children's Hospital, is expected to be open in 2012.

Schuylkill County

Schuylkill Economic Development Corp. received a $134,750 Business in Our Sites grant to develop a master plan, including engineering and design services, to create pad ready sites within the Highridge Travel Plaza.

SOURCE Pennsylvania Department of Community & Economic Development

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