PIDA Approves Loans to Boost Jobs and Investments in Pennsylvania

In 2025, low-interest loans totaling $21,103,909 from the Pennsylvania Industrial Development Authority (PIDA) have spurred $45,742,877 in private investments, leading to the creation of 123 full-time positions and the retention of 125 jobs.

Significant Economic Boost in Pennsylvania

Harrisburg, PA – The Department of Community and Economic Development (DCED) has unveiled a new $1 million low-interest loan facilitated by the Pennsylvania Industrial Development Authority (PIDA), aimed at enhancing business growth and job stability in Bucks County. This initiative will inject $2.6 million into the local economy, fostering the creation of at least seven new full-time roles and securing 15 current jobs.

Throughout 2025, PIDA's approval of loans amounting to $21,103,909 has catalyzed private investments worth $45,742,877, fostering the creation of 123 full-time positions while retaining 125 existing ones.

DCED Secretary Rick Siger expressed, “Through this loan, we are investing in a growing business that will create and retain jobs here in Pennsylvania.” He emphasized the Shapiro Administration's commitment to transforming the state into an economic powerhouse, with PIDA playing a crucial role by providing necessary resources to businesses.

Bucks County Project Details

Bucks County

• Filter Services Inc., in association with the EDC Finance Corporation, has secured a $1,000,000 loan at a fixed interest rate of 5.25 percent. This will facilitate the acquisition of a 23,850-square-foot manufacturing facility on 1.5 acres at 1105 Industrial Boulevard in Upper Southampton Township. The company, a manufacturer and supplier of filtration products, is relocating from its current site at 225 Lincoln Highway in Fairless Hills, aiming to expand its production capacity. The new facility will serve as a hub for light manufacturing, primarily accommodating office and warehouse spaces. This expansion will result in seven new full-time positions and the retention of 15 existing jobs.

PIDA offers low-interest loans and credit lines to eligible businesses committed to job creation and retention, alongside supporting industrial park and multi-tenant facility developments. These loans facilitate land and building acquisitions, construction and renovation expenses, the purchase of machinery and equipment, working capital, accounts receivable lines of credit, and projects related to multi-tenant facilities and industrial parks.

Since taking office, Governor Shapiro and his team have prioritized positioning Pennsylvania as a frontrunner in economic development, job creation, and innovation. The 2024-25 budget has strategically invested in line with a comprehensive 10-year Economic Development Strategy.

In his 2025-26 budget proposal, Governor Shapiro has outlined new and expanded investments to boost economic competitiveness, including:

• $50 million to enhance the innovation ecosystem and promote life science job growth
• $10 million for AdvancePA tax credits aimed at creating high-quality jobs across Pennsylvania
• $12.5 million allocated to WEDnetPA to expand the workforce and address critical workforce shortages
• $1 million for assisting veteran small businesses
• $2 million to establish Career Connect, fostering internships at Pennsylvania companies

For further details about the Pennsylvania Industrial Development Authority or the Department of Community and Economic Development, visit the DCED website. Stay updated with the latest news on Facebook, X, and LinkedIn.