Cumberland County-based American Mint will break ground July 5 on a $4 million expansion of its North American headquarters in Upper Allen Township, President Kevin Sacher announced Thursday.
Once construction is complete, the collectibles provider will occupy 50,000 square feet of warehouse and office space in the Rossmoyne Business Center, its home since 1998, Sacher said. It specializes in the direct mail marketing and distribution of coins, knives, die-cast replicas and other memorabilia.
The U.S. subsidiary of Swiss company HMK GmbH, American Mint added nearly 20 jobs last year and now employs about 70 people. The expansion could mean additional jobs over the next three years, Sacher has said.
Earlier this year, American Mint obtained a five-year Lerta exemption on the 4.2-acre commercial/industrial lot it is building on. The company was eyeing Florida and other places with distressed real estate opportunities for relocation, Sacher said.
Lerta is a property tax abatement program often used to revitalize blighted or deteriorated properties. For a Lerta to be issued, approval must be granted by the municipality, school district and county.
American Mint also received a $2 million Recovery Zone Facilities Bond, a tax-exempt loan, from the Cumberland Area Economic Development Corp. for the expansion.