Pair of Lehigh Valley business approved for state loans

Two Northampton County companies have been approved for low-interest loans through the Pennsylvania Industrial Development Authority.

Gov. Tom Wolf announced the approvals this week, along with four other PIDA loans to support business growth.

Continental Cup Co. LLC, through Lehigh Valley Economic Investment Corp., will receive a 10-year $210,000 loan at 3.75% fixed interest rate to buy machinery and equipment, including a lid automation system; dome lid mold; die cutter and punching machine; forklifts; racking system; pumps; and other small equipment, which will be installed at its manufacturing facility at 1920 Spillman Drive, Bethlehem.

Total project cost is $491,562, and Continental Cup has committed to create 44 full-time jobs and retain 27 employees within three years.

Green Leaf Productions Inc., through Lehigh Valley Economic Investment Corp., will get a 10-year $945,000 loan at a 3% reset interest rate to acquire a 10,450-square-foot office building at 161 North Commerce Way, Hanover Township. The project site, which will be used as a full-service multimedia production facility, will provide Green Leaf with more production space and allow it to expand.

Total project cost is $2.1 million, and the company has committed to create 25 full-time jobs within three years.

So far this year, a release said, PIDA has approved more than $41.5 million in low-interest loans, producing almost $91 million in private investment and supporting 998 created and retained full-time jobs.

Paula Wolf is a freelance writer