Lancaster business receives PIDA loan from Shapiro Admin

A Lancaster-based business is receiving funding from the Shapiro Administration.

Lancaster County‘s Visual Solutions Group, LLC, through the EDC Finance Corporation, was approved for a 10-year, $2,000,000 loan at a 4.25% reset interest rate to purchase a 72,141-square-foot facility at 1811 Rohrerstown Road in Lancaster. The entities held under Visual Solutions Group, LLC are currently leasing 75% of the facility and now wish to purchase real estate. The focus of the business is to create custom signs, banners, and graphics to assist clients in increasing business visibility. The total project cost is $10,000,000.

The funding is part of a more than $4.1 million investment through new Pennsylvania Industrial Development Authority (PIDA) loans to help businesses grow in Lancaster, Bucks, and Erie counties. The loans are designed to grow jobs for Pennsylvanians.

Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of three new, low-interest loans through PIDA to help boost business growth and create and retain jobs. The projects supported through these loans will inject over $15.2 million into the local economy, create 34 new, full-time jobs, and retain 98 existing jobs.

“The Shapiro Administration is supporting businesses across Pennsylvania by ensuring they have the resources they need to grow, compete, and succeed,” Siger said in a statement. “These new PIDA loans are strategic investments that will help drive business expansions, create good-paying jobs, and strengthen local supply chains in Bucks, Erie, and Lancaster counties. Under Governor Shapiro’s leadership, we’re continuing to build sustained economic momentum that benefits communities and residents across our commonwealth.”

Since the Shapiro Administration took office in 2023, PIDA has approved $161,400,538 in low-interest loans that have resulted in $412,782,567 in private investment, the creation of 1,349 full-time jobs, and retention of 2,394 existing jobs.

Businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities, are eligible for PIDA’s low-interest loans and lines of credit. Loans can be used for 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.

Governor Josh Shapiro and his administration have secured over $40.4 billion in private sector investments, creating more than 22,400​ jobs. Moody’s Analytics Chief Economist Mark Zandi noted that Pennsylvania remains the only state in the Northeast with a growing economy.