Northhampton News

Pennsylvania Gov. Tom Wolf announced that projects in five counties across the state will benefit from $9 million in funds being awarded for projects through six low-interest loans. 

According to Wolf’s press release, these low-interest loans are through the Pennsylvania Industrial Development Authority and will help create or retain 287 jobs.

“My administration and I remain committed to supporting growing businesses across the commonwealth, and the PIDA loans approved today will allow these companies to grow and expand,” Wolf said. “Providing resources for companies to succeed in Pennsylvania is vital to our economy, our communities, and our livelihoods.”

Green Leaf Productions had been approved for a 10-year $945,000 loan at a 3% reset interest rate for the construction of a 10,450 square-foot office. The project is in Bethlehem, Hanover Township of Northampton County. It will allow for more production space and a full-service multimedia production facility. The $2.1 million project will include the creation of 25 new full-time jobs over three years.

Also in Northampton County is the Continental Cup Company LLC., which was approved for a 10-year, $210,000 loan at a 3.75% interest rate. This is to purchase various types of equipment and machinery such as a dome lid mold, lid automation door, forklifts and more. The total cost of the project is $491,562 with 44 new jobs created and 27 retained over three years.

In Bucks County, Grundy Commons LLC was approved for a $15-year, $2.25 million loan with a 3% reset insert rate to buy a 318,921-square-foot mixed-use, multi-tenant building located in Bristol Borough. 

In Armstrong County the Regional Industrial Development Corporation of Southwestern Pennsylvania helped with RIDC Southwestern Pennsylvania Growth Fund be approved for a 15-year, $2.25 million loan. This was approved at a 4% fixed interest rate. A 30,000-square-foot industrial flex building will be built on 5.10 acres purchased at the RIDC Armstrong Innovation Park in Freeport, South Buffalo. The project totals $5,075,000 with six jobs being created.

Deer Park Lumber in Wyoming County was approved for a 10-year, $3 million loan with a 2.5% fixed interest rate to buy machinery. The project totals $7,854,000 and it will create eight new jobs and retain 74 more over three years.