HARRISBURG, PA — The Pennsylvania Department of Community and Economic Development (DCED) recently announced the approval of new low-interest loans through the Pennsylvania Industrial Development Authority (PIDA), aiming to support business expansion and job creation in the Commonwealth. The latest projects, located in Allegheny and Franklin counties, are projected to generate at least 48 new full-time jobs and preserve 17 existing positions, reinforcing Pennsylvania’s commitment to economic development.
DCED Secretary Rick Siger emphasized the significance of PIDA loans as vital tools to drive business growth and foster employment opportunities. “These loans awarded in Allegheny and Franklin counties will help businesses there expand and create new opportunities for residents—growth that will help achieve the Shapiro Administration’s goal of making Pennsylvania an economic powerhouse,” Siger stated.
Approved Projects
Allegheny County
Welly, LLC, through the Southwestern Pennsylvania Corporation, received approval for a 10-year, $1.99 million Machinery and Equipment Loan Fund (MELF) loan at a fixed interest rate of 4.75 percent. The funds will be used to establish a full manufacturing line for steel drinkware at the company’s facility in Plum Borough. The total project cost of $7.47 million includes contributions from investors, a $600,000 RACP State grant, and $129,922 in equity. Once operational, Welly will become the only insulated steel drinkware brand manufactured in the United States. The initiative will create 42 new full-time jobs and retain 6 existing positions.
Franklin County
BBCD Enterprises, LLC, via the Franklin County Area Development Corporation, secured a 15-year, $762,500 loan at a 3.75 percent reset interest rate. The loan will facilitate the acquisition of an 18,273-square-foot industrial building in Waynesboro, which will serve as the new home for Pro Tube, Inc. The company specializes in manufacturing hydraulic and mechanical tubing while providing subcontract machining services. The $1.5 million project is partially financed through seller funding and is expected to create 6 full-time jobs while retaining 11 existing positions within three years.
Broader Economic Impact
PIDA loans, a key component of Pennsylvania’s economic development strategy, have historically demonstrated measurable success. In 2024, the program approved nearly $28 million in low-interest loans, leading to over $47 million in private investments. These efforts resulted in the creation and retention of 584 full-time jobs across various industries.
The program’s wide-ranging scope includes provisions for land and building acquisitions, machinery and equipment purchases, capital expenditures, and multi-tenant and industrial park developments. By enabling businesses to expand and modernize, PIDA loans not only spark local economic growth but also position Pennsylvania as a competitive player in industry and manufacturing.
Looking Ahead
The recent approval of loans in Allegheny and Franklin counties spotlights a targeted effort to empower local businesses and support sustainable job creation across Pennsylvania. By backing projects that drive innovation and enhance economic stability, PIDA is playing a pivotal role in the state’s long-term development strategy.
As Pennsylvania continues to pursue its vision of becoming an economic powerhouse, initiatives like PIDA’s low-interest loans will remain integral to fostering growth, attracting investment, and creating opportunities for residents. With consistent funding and strategic partnerships, such programs are poised to deliver enduring benefits for businesses, communities, and workers across the Commonwealth.
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