In 2025, the Pennsylvania Industrial Development Authority (PIDA) has approved $22,303,909 in low-interest loans that have resulted in $50,468,127 in private investment, the creation of 123 full-time jobs, and retention of 125 existing jobs.
-
Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of more than $6.3 million in new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to help boost business growth and create and retain jobs in Blair, Bucks, and Franklin counties. The projects supported through these loans will inject more than $42.9 million into the economy, create at least three new, full-time jobs, and retain 268 existing positions across the three counties.
So far in 2025, PIDA has approved $22,303,909 in low interest loans that have resulted in $50,468,127 in private investment, the creation of 123 full-time jobs, and retention of 125 existing jobs.
“The Shapiro Administration is focused on helping businesses across our Commonwealth grow, expand, and succeed,” said DCED Secretary Siger. “These approved PIDA loans are giving companies in three counties the resources they need to reach their goals, maintain and create new jobs, and put tens of millions of dollars back into Pennsylvania’s economy.”
The approved projects are as follows:
Blair County
- DelGrosso Foods Inc., through the Altoona-Blair County Development Corporation, was approved for a 15-year, $2,250,000 loan at a 4.25 percent reset interest rate to purchase a 450,000-square-foot warehouse at 13985 South Eagle Valley Road in Snyder Township in Tyrone. DelGrosso Foods will initially occupy 200,000 square feet of the warehouse and anticipates expanding into additional space in the future as it continues to grow. The company currently meets its warehousing needs through existing lease arrangements on five separate buildings in Blair County, but these spaces are dated, in need of improvements, and have logistical challenges. Other project financing includes a $25,000,000 loan from First Commonwealth Bank and $5,750,000 in equity. As part of this project, DelGrosso Foods will create three new, full-time jobs within three years and retain 181 total positions.
Bucks County
- 4th Street Realty LLC and Coleman and Sons Family Limited Partnership, through the Lehigh Valley Economic Investment Corporation, were approved for a 15-year, $2,061,000 loan at a 4.25 percent reset interest rate to purchase a 169,137-square-foot light industrial and manufacturing multi-tenant property located at 45 North 4th Street in Quakertown. The property consists of two parcels totaling approximately 7.592 acres with approximately 150,000 square feet of manufacturing space and 19,000 square feet of office, maintenance, and storage space. There are currently five tenants occupying approximately 68,000 square feet of the building. The total project cost is $5,811,000. Additional project financing includes a $2,312,000 Harleysville Bank loan and $1,438,000 in equity.
Franklin County
- 627 North Grant Street LLC, through the Franklin County Area Development Corporation, was approved for a 15-year, $2,000,000 loan at a 4.25 percent reset interest rate to acquire an 80,654-square-foot manufacturing facility on 10.1 acres located at 627 North Grant Street in Waynesboro. The operating entity, Souders Industries Inc., will be merging operations into the new building from its leased 35,000-square-foot property at 6806 Anthony Highway in Waynesboro and a 15,000-square-foot property it currently owns at 19 Ash Street in Mount Alto. Both existing sites will remain active through March 2026 while the company completes its relocation. Production at the new site is expected to begin in April 2026. Additional project financing includes $2,100,000 equity contribution for a total project cost of $4,100,000. As part of this project, Souders Industries will retain 87 full-time jobs.
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. 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.
Since day one, Governor Shapiro and his Administration have been committed to making Pennsylvania a leader in economic development, job creation, and innovation. The 2024-25 enacted budget made significant investments aligned with the overall 10-year Economic Development Strategy.
In his 2025-26 budget proposal, Governor Shapiro is calling for new and expanded investments to implement the economic development strategy and increase the Commonwealth’s competitiveness, including:
- $50 million to strengthen the innovation ecosystem and spur life science job growt
- $10 million for AdvancePA tax credits to create high quality jobs across PA
- $12.5 million dedicated to WEDnetPA to expand our workforce and close critical workforce gaps
- $1 million for veteran small business assistance
- $2 million for the creation of Career Connect to build internships at Pennsylvania companies
For more information about the Pennsylvania Industrial Development Authority or DCED, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.