Shapiro Administration Invests Over $4.3 Million Through New PIDA Loans to Spur Business Growth and Job Creation in Five Counties

The projects supported through these PIDA loans will inject more than $8.6 million into the economy, create 35 new jobs, and retain 110 existing positions.

Since the Shapiro Administration took office in 2023, the Pennsylvania Industrial Development Authority (PIDA) has approved $163,682,538 in low-interest loans that have resulted in $424,127,567 in private investment, the creation of 1,388 full-time jobs, and retention of 2,501 existing jobs.

Harrisburg, PA - Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of over $4.3 million in five new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to help support business growth in Carbon, Delaware, Lancaster, Philadelphia, and Wayne counties. Together, these five projects will inject more than $8.6 million into the local economy, create 35 new, full-time jobs, and retain 110 existing jobs.

Governor Josh Shapiro is committed to making Pennsylvania an economic development leader by investing in growing businesses, supporting manufacturing and other key industries, and creating real opportunities for Pennsylvanians. Since 2023 under the Shapiro Administration, PIDA has approved $163,682,538 in low-interest loans that have resulted in $424,127,567 in private investment, the creation of 1,388 full-time jobs, and retention of 2,501 existing jobs.

"PIDA is a powerful tool that enables us to make strategic investments that help Pennsylvania businesses grow, compete, and create more good-paying jobs in communities across the Commonwealth," said Secretary Siger. "These low-interest loans are giving companies the tools they need to expand operations, modernize equipment, and bring new opportunities to five counties. Our investments in projects like these are strengthening local economies, supporting workers, and positioning Pennsylvania for long-term success."

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.

The approved projects are as follows:

Carbon County

• BTM, Inc., through the Northeastern Pennsylvania Alliance, was approved for a 10-year, $200,000 loan at a 5.00 percent fixed interest rate to purchase a computer-numerical-controlled metal lathe for its production facility at 1210 West 12th Street in Jim Thorpe. This lathe will replace an outdated machine and make it easier for the company to meet customers' demand. As part of this project, BTM Inc. will retain 22 existing positions. The total project cost is $450,000.

Delaware County

• American Wire Works LLC and Ace Metal Works, LLC, through the Delaware County Economic Development Corporation, was approved for a 10-year, $1,653,500 loan at a 4.25 percent reset interest rate to assist with purchasing and renovating an industrial manufacturing facility located at 5 Horne Drive in Folcroft Borough. The project will enable American Wire Works LLC and Ace Metal Works, LLC to consolidate operations into a single, owned location. The new facility will house core production lines for precision metal spools, tubular wire carriers, and value-added wire and banding products serving domestic industrial, automotive, naval, and defense markets. As part of this project, American Wire Works LLC and Ace Metal Works, LLC will retain 24 existing positions. The total project cost is $3,616,000.

Lancaster County

• Cyprium Solutions, Inc., through the EDC Finance Corporation, was approved for a 10-year, $1,371,650 loan at a 4.25 percent reset interest rate to assist with the renovation of a 20,668-squre-foot facility at 200 North Donnerville Road in West Hempfield Township, which will serve as its new headquarters. The company will be relocating from a rented facility in East Petersburg once renovations are completed. Cyprium Solutions, Inc. will retain 55 existing positions as part of this project. The total project cost is $2,743,300.

Philadelphia County

• Merzbacher's LLC, through the PIDC Financing Corporation was approved for a 5.5-year, $350,000 loan at a 5.00 percent fixed interest rate to assist with the purchase of machinery and equipment from Metropolitan Markets, Inc., whose wholesale operations are being absorbed into Merzbacher's LLC. Assets to be acquired primarily include baking machinery and production equipment, including key production equipment such as ovens, coolers, freezers, and slicers. Merzbacher's LLC will retain nine existing positions and add five new, full-time jobs over three years as part of this project. The total project cost is $350,000.

Wayne County

• Promising Goods LLC, through the Northeastern PA Alliance, was approved for a 10-year, $762,500 loan at a 4.25 percent reset interest rate to purchase a 38,000-square-foot building located at 10 Victory Drive in Gouldsboro, Lehigh Township. The company plans to source high-quality ingredients from local producers to manufacture a variety of healthy fruit strips, bars, purees, and powders. The new facility will allow for greater operational efficiency with shorter lead times, production flexibility, and increased production capacity. Promising Goods LLC will create 30 new, full-time jobs over three years as part of this project. The total project cost is $1,525,000.

Since taking office, Governor Shapiro and his Administration have secured over $40.4 billion in private sector investments, creating more than 22,400 jobs. Analysis from Moody's Analytics Chief Economist Mark Zandi confirms that Pennsylvania remains the only state in the Northeast with a growing economy. Governor Shapiro is committed to making Pennsylvania an economic development leader ― his 2026-27 state budget continues to focus on boosting the Commonwealth's economic potential and growing the economy.

For more information about the Department of Community and Economic Development, visit DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

MEDIA CONTACT: Justin Backover, [email protected] or 717.418.4014