HARRISBURG, PA — In a concerted effort to boost economic development and job creation, the Pennsylvania Industrial Development Authority (PIDA) has approved five new low-interest loans aimed at supporting business expansions in four counties. This initiative, announced by the Department of Community and Economic Development (DCED) Secretary Rick Siger, is set to create at least 28 new full-time positions and is part of a broader strategy to transform Pennsylvania into a thriving economic hub.
The PIDA’s 2024 portfolio boasts approvals totaling $20,946,040 in low-interest loans, leading to $33,415,799 in private investments and the creation or retention of 584 full-time jobs. Secretary Siger underscored the strategic value of these loans, stating, “These recently approved PIDA loans will help businesses in four counties to expand, grow and create new jobs. The Shapiro Administration is working to transform Pennsylvania into an economic powerhouse and PIDA loans give businesses the tools they need to help make that happen.”
Dauphin County is set to benefit from a substantial 15-year, $2.25 million loan at a 3.75 percent interest rate, granted to Goddard Holding, LLC. Facilitated through the Capital Region Economic Development Corporation, this funding will aid in purchasing land and constructing a 58,080 square-foot light industrial facility. Expected to foster 25 new full-time jobs, the facility will accommodate a building materials wholesale liquidator and a door manufacturing company, contributing to a total project cost of $5.94 million…