Four businesses, including a Berks County industrial park, were awarded more than $4 million in low-interest loans from the Pennsylvania Industrial Development Authority. Another loan recipient, a New York food manufacturer received more than $1 million to locate a facility in East Stroudsburg.
Berks 61 LLC received $2.25 million to buy and develop a nearly 19-acre industrial park on a former brownfield at 4030 Pottsville Pike in Muhlenberg Township.
Some of the infrastructure improvements include the development and construction of a stormwater management system, a main road through the industrial park, utility relocation and the completion of a new turning lane from Pottstown Pike into the park.
Sen. Judy Schwank said the low-interest loan is “another important step in our efforts to grow our local economy. These funds will help put a long vacant, well-located tract of land back into productive use.”
The Greater Reading Chamber Alliance, and its affiliate, the Greater Berks Development Fund, which helped secure the loan, have been working to make more sites available for immediate construction.
“Building an inventory of such sites is important to the continued vitality of our community,” said Randy Peers, president and CEO of GRCA.
In the Poconos, Terrafina LLC, a healthy snacks manufacturer based in New York, was approved for a $1,192,558 million loan to acquire and renovate a 74,087-square-foot building in East Stroudsburg.
The project will enable the company to create 120 new full-time jobs within three years.
The other PIDA recipients in the region:
• Lyophilization Technology Inc., a developer and manufacture of clinical trial material based in Warminster, Bucks County, was approved for a $1 million loan to acquire and renovate a 25,428-square-foot facility in Warwick Township to consolidate the company’s two buildings into one location. The move will enable the company to retain its 24 full-time employees and create four full-time jobs within three years.
• Hershey View Farm, a 370-cow dairy farm in Bethel Township, Berks County, was approved for a $400,000 loan to help owners Ray and Jenifer Hershey acquire an adjacent 83-acre farm for crop production.
