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PIDA funds new industrial park in Berks County

A new industrial park will soon be built in Ontelaunee Township.
A new industrial park will soon be built in Ontelaunee Township through funds by PIDA.

A new industrial park will soon be built in Ontelaunee Township. Two loans, provided by the Pennsylvania Industrial Development Authority, will fund the purchase and development of land for an industrial park at the southeast intersection of Routes 61 and 73.

The loans, which were announced Dec. 27 by the Greater Reading Chamber Alliance, amount to $2,250,000 each for two parcels of land that total roughly 122 acres.

According to the alliance, the loans were provided in order to address the community’s need for more industrial sites.

Mid Penn Bank, which operates four locations in Berks County, provided financing for both loans. Joseph N. Butto, regional president of Mid Penn Bank, said the bank is open to these kinds of financing deals, which he said spur local economic and business growth.

Dan Langdon, board chairman for the GRCA, expressed his appreciation for the work of Mid Penn Bank and Ontelaunee Township.  “…they have made it a painless process,” he said. “We look forward to building a great relationship with this municipality.”

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