HARRISBURG, PA — The Pennsylvania Industrial Development Authority (PIDA) has approved new low-interest loans aimed at fostering business expansion and securing employment opportunities across the Commonwealth. Announced by Department of Community and Economic Development (DCED) Secretary Rick Siger, these loans will support critical projects in Centre, Lancaster, and Westmoreland counties. Together, these initiatives are expected to create at least 19 new full-time jobs and preserve more than 180 existing positions across the three regions.
To date, PIDA has demonstrated its pivotal role in Pennsylvania’s economic development efforts. Throughout 2024, the program has provided nearly $28 million in low-interest loans, which have driven over $47 million in private investment while creating and retaining 584 full-time jobs across the state.
“PIDA loans are one of the Commonwealth’s key economic development investment tools to help generate business growth and create new jobs,” remarked DCED Secretary Rick Siger. “These loans awarded in Centre, Lancaster, and Westmoreland counties will help businesses there expand and create new opportunities for residents—growth that is essential to achieving the Shapiro Administration’s goal of transforming Pennsylvania into an economic powerhouse.”
Supporting Growth in Key Counties
The funded projects reflect the diversity and innovation present across Pennsylvania’s business community, with investments targeting manufacturing, woodworking, and multi-tenant facilities that enhance local economies.
- Centre County
Advanced Powder Products, Inc., a business renowned for its innovation in metal injection molding and 3D metal printing, secured two PIDA loans through the Moshannon Valley Economic Development Partnership, Inc. This includes a 15-year, $2.25 million loan at a 3.75 percent reset interest rate and a 7-year, $700,928 Machinery and Equipment Loan Fund (MELF) loan at a fixed rate of 4.75 percent.The funding will aid the company’s recovery following significant fire damage in 2023. Advanced Powder Products plans to construct a new 29,000-square-foot facility at its existing location in Rush Township and purchase advanced manufacturing equipment, including CNC machinery and robotics. With a total project cost of $7.47 million, the initiative is expected to generate 15 new full-time jobs while retaining 165 existing positions.
- Lancaster County
Seven Trees Woodworking, LLC, known for its high-quality craftsmanship, was awarded a 15-year, $975,000 loan through the EDC Finance Corporation. The loan will allow the company to purchase the industrial building it currently leases on a 3.80-acre property in Earl Township. This property includes a 28,304-square-foot facility with warehouse and office spaceWith a total project cost of $2 million, Seven Trees Woodworking anticipates creating four new full-time jobs and retaining 19 existing positions within the next three years. The acquisition ensures stability for the business and positions it for continued growth as a fixture in the local economy.
- Westmoreland County
Shilling Real Estate, LLC, received a 10-year, $877,400 loan through the Economic Growth Connection of Westmoreland to construct a 11,625-square-foot multi-tenant building in Penn Township. The new space will include office and warehouse facilities, with one-third of the completed building to be leased to Shilling Medical Supply, which is owned by the developer. The remaining space will be available for new tenants.With a total project cost of $2.19 million, the development aims to attract additional businesses to the area while bolstering economic activity in the region.
PIDA’s Commitment to Economic Development
PIDA serves as a central tool in Pennsylvania’s economic strategy, offering low-interest loans and lines of credit to businesses and organizations committed to creating and retaining full-time jobs. Eligible projects range from land acquisition and facility construction to the purchase of machinery and equipment, all tailored to support business growth and economic opportunity.
The program also accommodates projects tied to multi-tenant properties and industrial parks, underscoring its flexible approach to addressing unique community needs. With a focus on fostering collaboration between public and private sectors, PIDA helps lay the groundwork for sustainable economic development across the Commonwealth.
Delivering Long-Term Impact
The loans approved in Centre, Lancaster, and Westmoreland counties highlight the state’s strategic commitment to enabling economic partnerships at the local level. By providing businesses with the resources needed to modernize, expand, and innovate, PIDA’s investments echo the broader vision of the Shapiro Administration to position Pennsylvania as a leader in economic development.
Beyond the immediate impact of job creation, these projects aim to strengthen community ties and promote regional stability. As Secretary Siger emphasized, “This funding directly supports families and businesses while reinforcing the foundation for thriving local economies. PIDA’s work exemplifies how targeted investments can drive lasting growth and opportunity across Pennsylvania.”
With these focused efforts, Pennsylvania continues to build on its reputation as a state poised to support both its businesses and its people, fostering an economic environment where success and opportunity are within reach for all.
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