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Shapiro Administration funds more than $1.2 million in PIDA loans for business growth in Pennsylvania

The Shapiro Administration is allocating more than $1.2 million in Pennsylvania Industrial Development Authority (PIDA) loans for business expansion in Franklin and Westmoreland counties, Pennsylvania. The funds will support two projects through low-interest loans aimed at creating 27 new full-time jobs and retaining 10 existing ones.

In Franklin County, J&J Pallet and Recycling, LLC will receive a $367,000 loan to purchase a 16,400-square-foot facility in the Cumberland Valley Business Park, Chambersburg. This facility will enable the company to retain its ten existing full-time jobs. The loan has a term of ten years with a fixed interest rate of 5% and the total project cost is $1,780,000.

During 2024, PIDA has approved loans in the amount of $11,628,160, mobilizing $20,086,789 in private investment and helping to create and retain 387 full-time jobs.

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