St. Luke’s, furniture manufacturer receive state PIDA loans

Two local projects are receiving state funding to help foster job creation.

The Pennsylvania Industrial Development Authority is providing low-interest loans for the construction of a new medical facility in Hanover Township, Northampton County and for the purchase of manufacturing and processing equipment in Quakertown.

St. Luke’s University Health Network is receiving a $1.5 million PIDA loan through the Carbon Chamber & Economic Development Corp. towards the $3 million construction of a new 8,187-square-foot Medical Center for its Schoenersville site in Hanover Township.

St. Luke’s plans to offer services such as medical, physical therapy lab services, medical office space, X-ray and pediatrics at the facility.

It said there is currently a lack of quality health care facilities in the area and the new office will provide better medical access to people in the surrounding community.

St. Luke’s expects the new building will create 55 new jobs over the next three years.

The PIDA loan is a 15-year loan at a 1% reset interest rate.

In Quakertown, Home Reserve LLLC will receive $740,000 through the Bucks County Economic Development Corp. towards nearly $1.5 million in manufacturing and processing equipment for the company’s new Quakertown facility.

The equipment includes industrial woodworking, textile, foam blowing and packaging equipment to support the company in the manufacturing and packaging of its ready-to-assemble furniture.

The expansion at Home Reserve is expected to create 85 new jobs.

The PIDA loan is a 10-year loan at 2.75%