Pennsylvania, September 4, 2025
News Summary
The Shapiro administration has announced over $6 million in low-interest loans to stimulate business growth in four Pennsylvania counties: Adams, Bucks, Dauphin, and York. This funding, issued by the Pennsylvania Industrial Development Authority, is expected to create 31 new jobs and retain 117 existing positions, injecting over $15 million into local economies. The loans are designed to support businesses committed to employment growth, covering expenses like property acquisitions and equipment purchases.
Shapiro Administration Invests Over $6 Million in Low-Interest Loans for Business Growth in Pennsylvania
The Shapiro administration has announced a significant boost to local economies in Pennsylvania with the approval of more than $6 million in low-interest loans aimed at fueling business growth and preserving jobs. These loans, issued through the Pennsylvania Industrial Development Authority (PIDA), focus on four counties: Adams, Bucks, Dauphin, and York.
The funding is anticipated to inject over $15 million into local economies while directly creating at least 31 new full-time jobs and retaining 117 existing positions. This initiative reflects the Shapiro administration’s commitment to enhancing the business landscape in the state, as demonstrated by the PIDA loans’ ability to leverage more than $87 million in private investment.
Since the beginning of 2025, PIDA has approved nearly $29 million in loans, resulting in the creation of 126 jobs and the retention of 393 others. The funds are specifically earmarked for businesses that are dedicated to establishing and maintaining full-time jobs, with financial support that can be used for various project needs, including property acquisitions, construction, equipment purchases, and working capital for industrial development.
Highlights of Approved Projects
- Adams County: Agape Services LLC received a $400,000 loan with a fixed 5% interest rate for a term of 15 years. The funding will be used to purchase a 10,440-square-foot childcare facility in Straban Township, expected to operate at full capacity of 245 children, creating 18 new jobs.
- Bucks County: 3G and Beyond Properties LLC was approved for a $2.25 million loan at a 4.25% reset rate for 10 years. This loan is designated for acquiring and renovating a 22,000-square-foot property in Fairless Hills to serve as the new corporate headquarters for Starr Transit.
- Dauphin County: Zehring Real Estate Holdings LLC secured a $1.46 million loan at a 4.25% reset rate for 15 years, aimed at purchasing a 34,450-square-foot manufacturing facility in Highspire Borough. This project will help retain 39 jobs at Osage Piping and Fabricating Inc.
- York County: RSKL Real Estate Holdings LLC received a $1.95 million loan with a 4.25% reset rate for 15 years. The funds will facilitate the purchase and renovation of a warehouse on North Sherman Street in York, consolidating operations for Airborne Contamination Identification Associates LTD.
Securing this funding is an opportunity for businesses across Pennsylvania, as the PIDA loans are designed to support companies focused on employment growth and stability. By strategically investing in these regions, the Shapiro administration is striving to foster a more resilient economic environment.
FAQ
What is the Pennsylvania Industrial Development Authority (PIDA)?
PIDA is a state authority dedicated to providing financing support to businesses in Pennsylvania through low-interest loans, helping promote job creation and economic development.
How can businesses qualify for PIDA loans?
Businesses must demonstrate their commitment to creating and maintaining full-time jobs and can use the loans for various project-related expenses including property acquisition, construction, and equipment purchases.
What are the expected economic impacts of these loans?
The current funding is expected to inject over $15 million into local economies, create at least 31 new full-time positions, and retain 117 existing jobs across the designated counties.
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Additional Resources
- Fox43: Shapiro Administration Invests Over $6 Million in Low-Interest Loans for Business Growth in Pennsylvania
- Wikipedia: Pennsylvania Industrial Development Authority
- Post-Gazette: Pennsylvania Senate Updates
- Google Search: PIDA loans
- WFMJ: Shapiro Administration Invests in PIDA Loans
- Encyclopedia Britannica: Loan
- PennLive: USDA Offices Update
- Google News: Shapiro Administration Pennsylvania business
- Bucks Independence: PIDA Loan for Job Creation in Bucks
- Google Scholar: PIDA Pennsylvania
