PIDA loans boost job creation and investment in Pennsylvania counties

November 5, 2025 November 5, 2025

Editorial Staff

Major Investments in Pennsylvania's Economic Development Announced

The Pennsylvania Industrial Development Authority (PIDA) has taken a significant step to bolster the state's economy with the approval of over $4 million in low-interest loans for businesses in Berks and Lancaster counties. This move aims to enhance business expansion and job retention, injecting more than $15 million into the regional economy.

In 2025, PIDA's efforts have resulted in $43,236,828 in approved loans, leading to $110,705,508 in private investment. These investments have facilitated the creation of 282 full-time jobs and retained 570 existing positions.

Key Projects and Investments

Rick Siger, Secretary of the Department of Community and Economic Development (DCED), emphasized the importance of these investments, stating, "These new PIDA loans are an investment in manufacturing innovation, agriculture, and skilled trades in Berks and Lancaster counties." The loans are part of the Shapiro Administration's commitment to providing resources that help businesses grow and succeed.

PIDA offers low-interest loans and lines of credit to eligible businesses committed to job creation and retention. These funds can be used for various purposes, including land and building acquisitions, construction and renovation, machinery purchases, and working capital.

Projects in Berks County

Bally Ribbon Mills received a $2,000,000 loan from the Greater Berks Development Fund. This 10-year loan, with a 4.25% reset interest rate, will support the acquisition of an additional unit at their facility in Bally Borough. Bally Ribbon Mills, operational since 1923, designs and manufactures specialized fabrics for various industries. The total project cost is $9,750,000.

Projects in Lancaster County

Founders Market and Co. secured a $150,000 loan through EDC Finance Corporation for new equipment installation in their expanded warehouse in East Hempfield Township. This expansion nearly doubled their capacity, adding 2,400 pallet spots, and will retain 16 full-time jobs. The total project cost is $343,000.

Good Transport Services, Inc. received a $2,000,000 loan to aid the construction of a new building in Columbia, West Hempfield Township. The project, which will enhance the company's operations, aims to double the shop's revenues in three years while retaining 58 full-time jobs. The total project cost is $5,289,000.

Statewide Economic Strategy

Governor Josh Shapiro's administration is dedicated to positioning Pennsylvania as a leader in economic development. The 2024-25 budget aligns with a comprehensive 10-year Economic Development Strategy.

In the proposed 2025-26 budget, Governor Shapiro seeks further investments to enhance Pennsylvania's economic competitiveness, including: