PIDA Loans Drive $40M in Investment, Create 116 Jobs in Pennsylvania

Significant Loan Approvals Propel Economic Growth in Pennsylvania

In 2025, the Pennsylvania Industrial Development Authority (PIDA) has sanctioned $17,843,909 in low-interest loans, facilitating $40,159,713 in private investments. This initiative has led to the creation of 116 full-time jobs and the retention of 110 existing positions.

Harrisburg, PA – Today marks a pivotal announcement by Department of Community and Economic Development (DCED) Secretary Rick Siger regarding the allocation of $1,658,836 in new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA). These loans aim to bolster manufacturing innovation, business expansion, and job creation, projecting the establishment of at least 65 new full-time jobs and the preservation of 25 current roles.

Throughout 2025, PIDA has authorized $17,843,909 in low-interest loans, catalyzing $40,159,713 in private investments. This strategy has successfully generated 116 new full-time roles and safeguarded 110 existing ones.

“Investments like these PIDA loans will help businesses grow, create new jobs and support existing ones, while also helping our Commonwealth advance as a hub for manufacturing and innovation,” said Secretary Siger. “The Shapiro Administration is laser-focused on transforming the lives of our residents by making Pennsylvania an economic powerhouse and PIDA loans give our businesses the tools they need to help make that happen.”

Approved Projects by County

Bedford County

• Brumbaugh Mountain Welding, LLC, through the Southern Alleghenies Planning & Development Commission, has been granted a 15-year, $200,000 loan at a 5.00 percent fixed interest rate to build a new 50’ x 144’ x 20’ steel facility on Guyer Corner Road in New Enterprise. This expansion will enhance their capacity to conduct aluminum metalwork for Martin Truck Bodies and accept larger commercial contracts. The complete project costs $640,655, with further funding from a $425,000 Hometown Bank loan and a $15,655 equity contribution from the borrower. Within three years, Brumbaugh Mountain Welding aims to establish two full-time positions and maintain two current jobs.

Northampton County

• iDEAL Semiconductor Devices Inc., via the Lehigh Valley Economic Investment Corporation, has obtained a $1,378,300 loan at a 2.50 percent fixed interest rate. This funding will facilitate the purchase of advanced semiconductor testing, reliability, and characterization equipment for its R&D facility at the Ben Franklin Technology Center, 116 Research Drive, Bethlehem. This enhancement is crucial for the progression of iDEAL’s semiconductor manufacturing techniques and ensuring product reliability. The company anticipates creating 63 new R&D jobs and retaining 23 existing positions.

Westmoreland County

• The 730 East Pittsburgh Street Food Associates Limited Partnership, through the Economic Growth Connection of Westmoreland, has been awarded a 10-year, $80,536 loan at a 2.00 percent fixed interest rate to replace fluorescent lighting with LED fixtures in a 50,000-square-foot grocery store located at 730 East Pittsburgh Street, Greensburg. This upgrade is expected to save 336,563 kWh annually. Additional project financing includes $26,846 in equity, totaling the project cost to $107,382. The partnership plans to create five full-time jobs within three years.

PIDA offers low-interest loans and lines of credit to eligible businesses committed to job creation and retention, as well as for industrial park and multi-tenant facility development. Funds can be utilized for land and building acquisitions, construction and renovation, machinery and equipment purchases, working capital, accounts receivable lines of credit, and multi-tenant or industrial park projects.

Since his inauguration, Governor Shapiro, along with his Administration, has prioritized establishing Pennsylvania as a leader in economic development, job creation, and innovation. The 2024-25 budget has been crafted to align with the comprehensive 10-year Economic Development Strategy.