The Shapiro Administration has approved a $1 million low-interest loan through the Pennsylvania Industrial Development Authority (PIDA) to support business growth in Bucks County, writes Ed Gruver for Lehigh Valley Business.
The loan will support a project expected to inject $2.6 million into the economy. It will also create at least seven full-time jobs and retain 15 positions in Bucks County.
“Through this loan, we are investing in a growing business that will create and retain jobs here in Pennsylvania,” said Department of Community and Economic Development Secretary Rick Siger. “The Shapiro Administration is working hard every day to transform our commonwealth into an economic powerhouse, and PIDA helps give businesses the resources to help make that happen.”
Filter Services was approved for a $1,000,000 loan at a 5.25 percent fixed interest rate through the EDC Finance Corporation. This allowed them to purchase a manufacturing facility at 1105 Industrial Boulevard in Upper Southampton Township.
The company, which manufactures filtration products, is relocating from its current location in Fairless Hills, eleven miles away.
The 23,850-square-foot industrial building will be used for light manufacturing. It will primarily be made up of office and warehouse space.
Read more about the Shapiro Administration’s loan and what’s planned for Filter Services’ new facility in Lehigh Valley Business.
_______
