HARRISBURG– Pennsylvania officials have approved a new low-interest loan through the Pennsylvania Industrial Development Authority (PIDA) to support business growth in Franklin County that will help retain 16 total jobs.
“Ensuring companies have the ability to grow and expand in Pennsylvania is a vital component of our economy, our communities, and our livelihoods,” said Gov. Tom Wolf. “PIDA loans, like the one approved today, help provide the resources companies need for continued success here in the commonwealth.”
In 2022, PIDA approved $53,855,862 in low-interest loans that resulted in $113,991,797 in private investment and supported 1,304 created and retained full-time jobs. Since 2015, PIDA has approved $415,634,139 in low-interest loans that have resulted in $841,972,966 in private investment and supported 16,069 created and retained full-time jobs.
The approved project is as follows:
Franklin County
Hopewell Manufacturing, Inc., through the Franklin County Area Development Corporation, was approved for a 10-year $354,742 loan at a 4.75 percent fixed interest rate to purchase machinery and equipment, including a spray booth with conveyor system, paint mix room, batch powder booth, industrial batch oven and two forklifts to expand production at their 217 North Franklin Street, Waynesboro Borough facility to help the company keep up with increasing sales. The total project cost is $709,485 and the company will retain 16 full-time jobs within three years.
