Chesco business among 4 to win loan awards

The low-interest economic development loans were awarded by Pennsylvania Industrial Development Authority

HARRISBURG » Four Pennsylvania businesses — including one from Chester County — have been awarded low-interest loans to help them expand operations, serve their customers and create and retain jobs.

The loans were awarded by the Pennsylvania Industrial Development Authority and announced Wednesday by Governor Tom Wolf.

“PIDA funding is an incredible tool for growing businesses in Pennsylvania that are taking the next critical steps to advance capabilities and ensure they can continue to reliably serve consumers,” Wolf said in a statement. “These affordable resources are invaluable as businesses expand and play a major role in my administration’s commitment to supporting and growing the state’s economy and workforce.”

In Chester County, J.D. Eckman Inc., through the Chester County Economic Development Council, was approved for a 10-year $910,000 loan at a 2.5% percent fixed rate to expand the company’s existing corporate headquarters located at 4781 Lower Valley Road in West Sadsbury Township.

The property consists of an existing 27,000-square-foot, threestory, owner-occupied office building, according to a press release. The company plans to add a 29,400-square-foot onestory bay flex space. The new space will be used primarily as a warehouse and repair shop for the company’s vehicles and equipment. The total project cost is $4,050,000.

JD Eckman is a full-service, family owned highway and bridge construction company founded in 1945. The company has 500 employees, including an in-house engineering staff of full-time registered professional engineers licensed in several states, as well as project managers/engineers.

In addition to J.D. Eckman Inc., in Chester County, loans were awarded to:

In Bucks County, 701 Canal St LLC, through the Bucks County Economic Development Corporation, was approved for a 15-year, $627,600 loan at a 2.5% fixed rate to purchase a 41,792-square-foot multi-tenant facility located in Bristol Borough. The total project cost is $1,600,000.

In Beaver County, Pauana Holdings LLC, through the Beaver County Corporation for Economic Development, was approved for a 15-year, $1,240,000 million loan at a 2.5% fixed rate to acquire a 40,200-square-foot multi-tenancy building in Hopewell Township. The total project cost is $3,200,000 and is expected to create at least 25 new, full-time jobs within three years.

In Blair County, MacInnis Group LLC, through the AltoonaBlair County Development Corporation was approved for a 15-year, $700,000 loan at a 1.5% reset rate to acquire 55 acres of unimproved land in Greenfield Township. The total project cost is $1,400,000.

The total amount awarded in the latest round of loans was $3,477,600.

The Pennsylvania Industrial Development Authority loan program is administered through the Pennsylvania Department of Community and Economic Development. The program provides low-interest loans and lines of credit to Pennsylvania businesses that commit to creating and retaining full-time jobs within the commonwealth, as well as for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of certified economic development organizations that partner with the Pennsylvania Industrial Development Authority.

In 2021, the authority has approved $38,577,782 in low-interest loans that have resulted in $91,045,930 in private investment and supported 1,592 created and retained full-time jobs, according to the agency.

For more information about the Pennsylvania Industrial Development Authority and other Department of Community and Economic Development initiatives, visit dced.pa.gov.