Pennsylvania Invests to Create, Retain Jobs
The loans, approved by the Pennsylvania Industrial Development Authority, are designed to enhance the commonwealth’s manufacturing sector and leverage more than $3.2 million in private funding.
Captive-Aire Systems Inc., which manufactures commercial kitchen ventilation equipment, will receive a $1.86 million loan to acquire, renovate, and expand a building in Bedford that has been vacant since 1999. The $4.6 million project, sponsored by the Bedford County Development Association, is expected to create 75 jobs. It will be the North Carolina company’s fifth manufacturing site, and its first in Pennsylvania.
Thermodesign Corp., which manufactures HVAC ductwork systems for commercial, industrial, and institutional buildings, will receive a $630,000 loan to acquire and renovate an existing building in Levittown. The $2.1 million project, sponsored by the Bucks County Economic Development Corp., is expected to retain 56 jobs. The company currently operates in a leased building two blocks away.
“Even in this unsteady national economy, Pennsylvania is committed to encouraging job growth and business development,” said Rendell. “We must remain proactive and keep working to encourage business investment, growth, and job creation, and to position our businesses and workers to contribute to our economic recovery.”
Publication date: 02/09/2009