Pennsylvania Governor Rendell: New State Investments Will Help Manufacturers in Lehigh, Bucks Counties to Create, Preserve Hundreds of Jobs

HARRISBURG, Pa., Feb. 4 /PRNewswire-USNewswire/ -- New state investments announced today by Governor Edward G. Rendell will help two eastern Pennsylvania manufacturers and create hundreds of new jobs.

B. Braun of America Inc. will receive a $2 million low-interest loan from the Pennsylvania Industrial Development Authority to continue consolidating its operations from New Jersey, Texas, and California into a facility in Hanover Township, Lehigh County. The company has retained 2,000 jobs and has created 300 with the move.

The authority approved the loan during its meeting today, and also approved a $387,000 loan for View Thru Technologies Inc., which manufacturers and designs optical filters for flat panel displays in Bucks County.

The new state investments will leverage $7.7 million in private investments.

"Creating a positive and inviting business climate for companies looking to expand or relocate remains a top priority for Pennsylvania," said Governor Rendell.  "B. Braun Medical, the 10th largest medical manufacturer in the world, considered several locations for its consolidation and expansion. Our wide range of business assistance has given Pennsylvania a competitive edge in attracting businesses and retaining and creating jobs."  

The $2 million PIDA loan to B. Braun was one component of a funding package approved by the Governor's Action Team in 2006.  The 15-year, 3.25 percent loan, will be applied to the company's $9.3 million project and will be administered by Lehigh's Economic Advancement Project Inc.

View Thru Technologies will receive a $387,500, 15-year loan at 3.25 percent to acquire and renovate a 14,874–square-foot building in Milford Township. The $775,000 project will allow the company to move its 18 employees to the new facility, add additional equipment, and streamline production process. The Bucks County Economic Development Corp. is the sponsoring agency.  

PIDA provides capital for infrastructure acquisition, creation and renovation, 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 economic development initiatives in Pennsylvania, call 1-866-466-3972 or visit www.newpa.com.

Media contacts:

Theresa Elliott, DCED; 717-783-1132

Michael Smith, Governor's Office; 717-783-1116

SOURCE Pennsylvania Office of the Governor