2 Northampton County businesses to expand, create jobs with $9M in state loans

2 Northampton County businesses to expand, create jobs with M in state loans

A pair of Northampton County enterprises approach to extend and produce career growth with the aid of small-curiosity financial loans totaling $9 million via the Pennsylvania Industrial Development Authority (PIDA).

The financial loans introduced Wednesday by Gov. Tom Wolf will assist business enterprise expansion in five Pennsylvania counties and will assistance to make and retain a whole of 287 work opportunities. Amongst the 6 enterprises named to obtain the funding were being Continental Cup Business LLC in Bethlehem and Environmentally friendly Leaf Productions Inc. in Hanover Township. PIDA financial loans have been also declared for tasks in Armstrong, Bucks, Lackawanna and Wyoming counties.

So far this 12 months, PIDA has authorised about $42 million in very low-fascination loans that have resulted in about $91 million in personal investments and supported 998 created and retained comprehensive-time positions, according to a news release. Given that 2015, the authority claims it has accredited about $403 million in very low-interest loans that have resulted in about $819 million in non-public investments and supported 15,763 created and retained entire-time employment.

Wolf reported in a statement he continues to be dedicated in supporting developing organizations across the condition and the financial loans will permit the 6 organizations to prosper and expand.

“Providing resources for companies to realize success in Pennsylvania is important to our economic climate, our communities, and our livelihoods,” the governor added.

The accepted jobs in Northampton County are:

  • Continental Cup Firm LLC, a startup company of substantial-finish graphic paper cups, receiving a 10-yr, $210,000 personal loan at a 3.75% set curiosity charge to invest in machinery and machines. This consists of a lid automation procedure dome lid mildew die cutter and punching equipment forklifts racking program pumps and other tiny products. The overall task cost is $491,562 and the company has fully commited to creating 44 new, entire-time work opportunities and retaining 27 staff members in just a few a long time. The producing facility is at 1920 Spillman Push in Bethlehem.
  • Eco-friendly Leaf Productions Inc., as a result of the Lehigh Valley Economic Investment Company, was permitted for a 10-calendar year, $945,000 financial loan at a 3% reset fascination charge to obtain a 10,450-square-foot business developing at 161 North Commerce Way in Hanover Township. The assets options to be utilized as a comprehensive-support multimedia creation facility, supplying the enterprise with more generation space, as very well as permit Environmentally friendly Leaf to extend along with the larger sized contracts the enterprise has received. The total undertaking price is $2.1 million, and Environmentally friendly Leaf Productions has fully commited to generating 25 new, total-time careers in just three several years.

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Pamela Sroka-Holzmann might be attained at [email protected].