PA: Technical Process and Engineering, Inc. to Expand in Carbon County
3 Jul, 2013
Governor Tom Corbett announced that Technical Process and Engineering, Inc. will invest more than $1.6 million in an expansion that is expected to result in 34 new and retained jobs in Carbon County.
“Our efforts to improve Pennsylvania’s business climate and work with our regional partners in the field is resulting in new jobs for our workers,” Corbett said. “Technical Process and Engineering’s expansion marks the third jobs announcement in Northeast Pennsylvania in June, bringing nearly 400 new jobs to the region.”
Technical Process and Engineering, Inc. (TPE) is planning to add a 6,000 square-foot expansion to its existing 22,000 square-foot facility in Lehighton. The project is expected to generate a total capital investment in excess of $1.6 million in infrastructure and equipment related costs. TPE is projected to create 16 new jobs and retain 18 jobs.
“In 1985, Technical Process and Engineering, working with the newly formed Carbon County Development Corporation received its first Pennsylvania Industrial Development Authority (PIDA) loan and turned what was a burned out barn into a world-class manufacturer of capital equipment for the rubber and plastics industries,” said Slate Altenburg, founder of TPE. “The work ethics and capabilities of our employees have led to growth beyond our expectations, and the assistance of the commonwealth will give us the capability to continue that growth.”
The company received a funding offer from the Department of Community and Economic Development including a $30,000 Pennsylvania First Program grant, $32,000 in Job Creation Tax Credits and a $7,200 Guaranteed Free Training grant which will be used to train its new workforce. A $340,000, 10-year, low-interest loan at 1.5 percent from the Machinery and Equipment Loan Fund was also included.
The project was coordinated by the Governor’s Action Team, or GAT, a group of economic development professionals who work directly with businesses that are considering locating or expanding in Pennsylvania, in collaboration with the Carbon County Economic Development.
“This project is a great example of the new approach of DCED in harnessing the power of partnerships. Our organization was pleased to help facilitate a broad discussion around economic development tools offered in Pennsylvania and get the right resources to the table,” said Dawn Ferrante. “It’s all about jobs, and GAT and our other partners were there to support this local business.”
Technical Process and Engineering, Inc. manufactures equipment for the plastics and rubber industries. Since 1979, TPE has also provided machining, technical, and manufacturing support services to the thermoplastic and rubber industries.
For more information on the Governor’s Action Team and other economic development initiatives in Pennsylvania, visit newPA.com or call 1-866-466-3972.