A kitchen equipment manufacturer will create 75 new jobs in Bedford with its first Pennsylvania manufacturing site, and an HVAC ductwork manufacturer in Levittown will acquire and renovate a facility -- projects that are made possible by low-interest commonwealth loans announced today by Governor Edward G. Rendell.
The loans, approved by the Pennsylvania Industrial Development Authority on Feb. 4, will enhance the commonwealth's manufacturing sector and leverage more than $3.2 million in private funding.
"Even in this unsteady national economy, Pennsylvania is committed to encouraging job growth and business development," said Governor Rendell, who yesterday unveiled his proposed budget for the next fiscal year that focuses on putting Pennsylvanians to work and protecting families from the impacts of the national recession. "We must remain proactive and keep working to encourage business investment, growth and job creation, and to position our businesses and workers to contribute to our economic recovery."
Governor Rendell recently asked PIDA to cut interest rates to 3 percent to encourage more Pennsylvania companies to pursue job-creating projects.
The authority provides capital for infrastructure acquisition, creation and renovation projects, primarily for manufacturers, industrial developers, research and development firms, agricultural processors and employers looking to establish national or regional headquarters in Pennsylvania.
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