Reitnouer, Inc. Invests $4.5 Million To Establish Operations Center in Berks County, Pennsylvania
Area Development Online News Desk (08/21/2013)
Reitnouer, Inc. will invest $4.5 million to relocate its operations center to Berks County, Pennsylvania, with plans to create 60 jobs and retain 250 positions. A manufacturer of bolted aluminum flatbed and raildeck trailers, Reitnouer will acquire and renovate an existing 141,000-square-foot facility in Cumru Township, south of Reading.
“I remain committed to putting Pennsylvanians back to work by providing access to critical capital and making smart investments in Pennsylvania’s manufacturers,” Gov. Tom Corbett said. “Through the support of this relocation, Reitnouer will have the resources to continue to grow and create jobs in Berks County.”
The Pennsylvania Industrial Development Authority will provide a $1.5 million, 15-year, low-interest loan at 3.5 percent to the Greater Berks Development Fund on behalf of Reitnouer, Inc. The low-interest loan will allow the manufacturer to purchase and renovate an existing facility that will help address the company’s expansion efforts.
“As we continue to provide critical capital assistance to manufacturers, Pennsylvania’s employers have added more than 130,000 jobs to the private sector,” Corbett said.
PIDA 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.