Central Pa. workforce projects approved for PIDA loans

Two Central Pennsylvania workforce projects have been approved by the Shapiro administration for new, low-interest loans. 

Projects in Lancaster and York counties are among the five projects announced for approval by Department of Community and Economic Development (DCED) Secretary Rick Siger. The Central Pennsylvania projects are part of the more than $3.7 million in new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to help support business growth in Lancaster, York, Bucks, Lackawanna, and Montgomery, counties. 

These projects will inject a total of more than $10.2 million into the local economy, create 35 new, full-time jobs, and retain 53 existing jobs. 

“PIDA loans help provide Pennsylvania businesses with the tools they need to grow and succeed,” Siger said in a statement. “Under Governor Shapiro‘s leadership, the commonwealth is moving at the speed of business and making strategic investments that support growing companies and help build stronger communities across the commonwealth.” 

Since 2023 under the Shapiro administration, PIDA has approved $180,872,614 in low-interest loans that have resulted in $474,557,895 in private investment, the creation of 1,573 full-time jobs, and the retention of 2,816 existing positions. 

In Lancaster County, 637 N Plum St LLC, through the EDC Finance Corporation, was approved for a 15-year, $200,000 loan at a 5.00 fixed interest rate to finance interior building renovations at the restaurant located at 637 North Plum Street in Lancaster. 

Known as Hotel Fulton, the property is situated within the historic Ross neighborhood and is part of a planned early suburban extension of Lancaster that developed around McGrann’s Park. The total project cost is $833,500.  

In York County, Groff & Julius LLC, through the York County Economic Development Corporation, was approved for a 10-year, $584,902 loan at a 4.25 percent reset interest rate to help with the construction of a new 5,342-square-foot office building at the company’s existing 73-acre property located at 6549 Davidsburg Road in Dover. 

The new facility will support the company’s expanding operations and will also include improvements at the site, including two 960-square-foot pole buildings, a 2,142-square-foot barn, a 224-square-foot lean-to, and a 192-square-foot utility shed. As part of this project, the company will create ten new, full-time jobs over the next three years and retain 24 existing positions. The total project cost is $2,662,197. 

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. 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 are all eligible for PIDA loans.