N.E. Reihart & Sons Inc., plans to construct a new 52,400-square-foot manufacturing facility in Smithfield Township, Pennsylvania, with the assistance of a 15-year low-interest loan of nearly $1.09 million, provided at 1.5 percent interest, awarded to Huntingdon County Business and Industry Inc. by the Pennsylvania Industrial Development Authority.
Pennsylvania Industrial Development Authority provides capital for building acquisition, construction and renovation work, primarily for manufacturers, industrial developers, research and development firms, agricultural processors and employers looking to establish national or regional headquarters in Pennsylvania.
Huntington County Business and Industry was awarded the state grant on half of the company, which specializes in metal fabrication. The firm plans to consolidate operations from its four current locations, one mile from the project site, into the new facility in the south-central region of the Keystone State. The $2.9 million project is expected to create five new jobs and retain 26 employees.
Department of Community and Economic Development Secretary C. Alan Walker said; "The loans approved by PIDA will support the region's efforts to develop sites and bring in new businesses and jobs."