A&L Foods, Inc., a wholesale distributor of dry, frozen and perishable groceries, will invest more than $2.3 million to acquire and renovate an existing 30,000-square-foot distribution facility in Bensalem Township, Pennsylvania
, near Northeast Philadelphia.
The Bucks County-based company’s acquisition and renovation of a new facility was made possible by a low-interest loan approved by the Pennsylvania Industrial Development Authority. As an incentive, the Pennsylvania Industrial Development Authority will provide a $945,000, 15-year, low-interest loan at 2.5 percent to the Bucks County Economic Development Corporation on behalf of A&L Foods, Inc. The Pennsylvania Industrial Development Authority is an independent authority staffed and regulated through the Department of Community and Economic Development.
“We are seeing progress throughout the state and companies like A&L Foods are expanding and investing in new growth,” said Corbett “The low-interest loan awarded today will help A&L jump start that growth and create new jobs.”