HARRISBURG, Pa. (WHTM) — Governor Tom Wolf announced on Wednesday, July 6 the approval of two new low-interest loans that will support business growth in both Cumberland County and Allegheny County will help create or retain 24 jobs.
These loans will be given through the Pennsylvania Industrial Development Authority (PIDA).
The approved project for Cumberland County is for RLS Construction Group, LLC, through the Cumberland Area Economic Development Corporation, which was approved for a 15-year $400,000 loan at a 2.5 percent reset interest rate to acquire and renovate an existing building located at 230 South Sporting Hill Road in Mechanicsburg.
The current building will be repurposed into an industrial space to suit the needs of RLS. The total project cost is $1,496,100 and the company has committed to creating six new, full-time jobs and retaining 18 positions within three years.
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“The PIDA loans approved today will provide the support needed for these businesses to create economic growth,” Governor Wolf said. “It is always considered a win when we are able to help businesses expand and succeed right here in Pennsylvania.”
PIDA has approved $23.3 million in low-interest loans that have resulted in $45.7 million in private investment and supported 743 created and retained full-time jobs.