By ERIC SEIVERLING
Three new low-interest loan approvals through the Pennsylvania Industrial Development Authority will help companies in three counties, including Westmoreland County, to expand their operations, enhance services, improve facilities and create and retain jobs.
The loans were announced Wednesday by Gov. Tom Wolf.
“As 2020 draws to a close, we reflect on the challenges faced by Pennsylvania’s critical industries as a result of the COVID-19 pandemic, and the fortitude they have demonstrated over the past 10 months,” said Wolf. “The investments we make in businesses that power those industries will help them continue to grow, expand and thrive into the new year and beyond.”
In 2020, PIDA has approved $38,907,915 in low-interest loans that have resulted in $70,615,022 in private investment and supported 1,201 created and retained full-time jobs.
In Westmoreland County, the Regional Industrial Development Corporation of Southwestern Pennsylvania was approved for a 15-year, $2.25 million loan at a 1.75% fixed rate to renovate the RIDC Westmoreland Plant, also known as the former Sony Facility.
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