Gov. Tom Wolf announced nearly $2.7 million in low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) for three projects that will help companies in Bucks, Franklin, and Luzerne counties expand their operations, renovate facilities and create jobs.
Harry J. Lawall and Son, Inc., a manufacturer of custom prosthetics and orthotics, through Bucks County Economic Development Corporation, was approved for a 15-year, $1.83 million PIDA real estate loan at a 1 percent reset rate to acquire and renovate a 38,276-square-foot manufacturing facility situated on 4.88 acres in Middletown Township. The relocation will allow the company to consolidate five manufacturing, warehousing and office facilities, creating a more efficient and cohesive environment.
The company was also approved for a 10-year, $200,000 PIDA M&E loan at a 2 percent fixed rate to purchase machinery and equipment for the new facility, including sanding machines, air compressors, workbenches, an oven and hood, drum sanders, bandsaws, dust collectors, 3D printers, robotics equipment, milling machines and a bio sculpture machine. The total project cost is $4.06 million, and the company will retain 98 existing positions.
“Pennsylvania manufacturers drive our economy, providing critical goods, services, and jobs to consumers and workers across the commonwealth,” said Wolf. “The funding approved today through PIDA will help businesses in three counties grow and improve their operations, through additional space and more efficient equipment and processes.”
In 2021, PIDA has approved $10,352,200 in low-interest loans that have resulted in $18,422,110 in private investment and supported 335 created and retained full-time jobs. Click here for more information.