Shapiro Administration Invests More Than $2.7 Million Through New PIDA Loans to Help Businesses Grow, Create Opportunities for Pennsylvanians in Two Counties

In 2024, PIDA approved $27,984,451 in low interest loans resulting in $47,242,997 in private investment, the creation of 178 full-time jobs, and retention of 406 existing jobs.

The Hazleton YMCA Early Education Center is one of 218 second-round NAP award recipients across the Commonwealth, reinforcing the Shapiro Administration’s commitment build vibrant and resilient regions to help our communities flourish, boost the economy, and create real opportunity for Pennsylvanians.  

Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of new low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to support business expansion and create new jobs. The projects supported through these loans are expected to create at least 48 new, full-time jobs and retain more than 17 positions across two counties.

In 2024, PIDA approved $27,984,451 in low interest loans that resulted in $47,242,997 in private investment and created and retained a total of 584 full-time jobs. 

“PIDA loans are one of the Commonwealth’s key economic development investment tools to help generate business growth and create new jobs,” said Secretary Siger. “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.”

The approved projects are as follows: 

Allegheny County

• Welly, LLC, through the Southwestern Pennsylvania Corporation, was approved for a 10-year, $1.99 million Machinery and Equipment Loan Fund (MELF) loan at a 4.75 percent fixed interest rate, to purchase machinery to establish a full manufacturing line for its bottle products at 1967 Eastern Avenue, Plum Borough. Once operational, Welly will be the only insulated steel drinkware brand that is Made in the USA. The total project cost is $7.47 million. Additional project financing includes $2.4 million from investors, a $600,000 RACP State grant, and $129,922 in equity. The company expects to create 42 new full-time jobs and retain 6 full-time jobs as the result of this project.

Franklin County

• BBCD Enterprises, LLC, through the Franklin County Area Development Corporation, was approved for a 15-year, $762,500 loan at a 3.75 percent reset interest rate to purchase an 18,273 sq. ft. industrial building on 5.91 acres located at 4872 Zane A. Miller Drive, Waynesboro. The building will house Pro Tube, Inc., which manufactures mechanical and hydraulic tubing and provides sub-contract machining services. The total project cost is $1.5 million with an additional $762,500 in seller financing. The company expects to retain 11 full-time jobs and create 6 full-time jobs within the next 3 years.

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.

Governor Josh Shapiro’s 2024-25 bipartisan budget delivers on key priorities to make Pennsylvania more competitive economically and includes:

• $500 million for site development, including $400 million for the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) program
• $20 million for the Main Street Matters program to support small businesses and commercial corridors that are the backbone of communities across our Commonwealth
• $15 million for tourism marketing to boost our economy, attract more visitors, and support good-paying jobs — building on the Governor’s launch of The Great American Getaway brand to encourage tens of millions within a few hours’ drive to visit Pennsylvania

For more information about the Pennsylvania Industrial Development Authority or the Department of Community and Economic Development, visit DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

MEDIA CONTACT:
Justin Backover, dcedpress@pa.gov or or 717.418.4014

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