PIDA Approves $9.9M Loans for PA Business Growth and Job Creation

April 2, 2025 April 10, 2025

Editorial Staff

Investment Boost: Pennsylvania's Strategic Move to Expand Business and Job Opportunities

In 2025, the Pennsylvania Industrial Development Authority (PIDA) has sanctioned $9,935,073 in low-interest loans, which have catalyzed $20,740,473 in private investments, leading to the creation of 56 full-time jobs and retention of 58 existing jobs.

Harrisburg, PA – The Department of Community and Economic Development (DCED) Secretary, Rick Siger, has announced the latest approval of low-interest loans under the Pennsylvania Industrial Development Authority (PIDA). These loans are aimed at supporting business expansion and job creation across select counties in Pennsylvania.

The initiatives backed by PIDA loans are set to generate at least 8 new full-time positions while safeguarding 41 jobs. "These PIDA loans will help businesses in Carbon, Lawrence, and Westmoreland counties to grow, create new jobs, and support existing ones," stated Secretary Siger. "The Shapiro Administration is laser-focused on transforming Pennsylvania into an economic powerhouse and PIDA loans give Commonwealth businesses the tools they need to help make that happen."

Regional Projects and Their Impact

Carbon County

Architectural Polymers, LLC, facilitated by the Northeastern PA Alliance, has been granted a 15-year loan totaling $772,650 at a 4.25% reset interest rate. This funding will support a 4,000-square-foot expansion of its facility at 1220 Little Gap Road, Lower Towamensing Township. Specializing in polyurethane rubber forms for concrete construction, the company will retain 41 full-time roles through this $1,545,300 project.

Lawrence County

The Container Crafters, LLC, operating via the Lawrence County Economic Development Corporation, will receive a 10-year, $400,000 loan at a 5% fixed interest rate. This loan will enable the acquisition of machinery at their Shenango Township location, facilitating an expansion to meet North American market demands. With a total project cost of $945,000, including additional funding from various sources, the company aims to create 8 new full-time jobs within three years.

Westmoreland County

ASG Investments, LLC, through the Economic Growth Connection of Westmoreland, has secured a 10-year, $2.25 million loan at a 4.25% reset interest rate. The funds will be used to acquire two industrial buildings in Latrobe Industrial Park, with a total project cost of $5,800,000. Additional finances include a loan from S&T Bank and equity.

PIDA extends low-interest loans and lines of credit to businesses committed to job creation and retention, as well as the development of industrial parks and multi-tenant facilities. Eligible uses of the loans include land and building purchase, construction and renovation, equipment acquisition, and more.

To learn more about PIDA or the DCED, visit the agency’s website, or follow them on Facebook, X, and LinkedIn.

Governor Shapiro's administration remains dedicated to positioning Pennsylvania as a leader in economic growth and innovation. The 2024-25 budget includes substantial investments that align with the state's 10-year Economic Development Strategy.

Governor Shapiro’s 2025-26 budget proposal seeks to allocate over $160 million for new and expanded investments, enhancing the state's economic competitiveness. Key initiatives include: