Rock Lititz receives $3.2M loan for building in Warwick Township
Rock Lititz LP is receiving a $3.2 million loan from the Commonwealth Financing Authority for new construction on the company's campus.
Gov. Tom Wolf announced today that the Commonwealth Financing Authority approved funding for the Warwick Township property in Lancaster County as part of the Building Pennsylvania program, which provides finances for construction projects in small to midsized Pennsylvania communities.
The Lancaster-based EDC Finance Corp. will receive the loan on behalf of Rock Lititz. In a separate transaction, the EDC received a loan of $2.25 million for Rock Lititz from the Pennsylvania Industrial Development Authority.
The proposed building, referred to as Pod #2, is phase II of development planned at the 96-acre campus. It will consume 10 acres of the campus, with 252,000 square feet of construction, and will serve 18 to 30 live-event technology companies.
The total project cost is estimated at $21.8 million and is a joint effort between Lititz-based companies Clair Global and Tait Towers. Clair Global is a leader in audio system rentals for rock tours, and Tait Towers builds stages for touring bands.
“The Building Pennsylvania program allows for important investments to be made in the state’s small to midsized communities to support continued development,” Wolf said. “Today we’re thrilled that the Commonwealth Financing Authority has approved such an investment in Warwick Township.”