Prizer-Painter Stove Works Invests $3 Million In Reading, Pennsylvania, Office Complex
Area Development Online News Desk (07/10/2013)
Prizer-Painter Stove Works, Inc., a manufacturer of high-end residential and commercial cooking ranges and ventilation equipment, will invest more than $3 million to construct a 42,000-square-foot office building in Reading, Pennsylvania. The firm expects to create 29 jobs and retain 87 employees in Berks County.
“Supporting the growth of our manufacturers is helping to ensure there is a job available for every Pennsylvanian who wants one,” Gov. Tom Corbett said. “The low-interest loan approved for Prizer-Painter will provide critical resources to support their expansion and create 29 new jobs for the region’s workers.”
As an incentive, Pennsylvania Industrial Development Authority will provide a $1,827,000, 15-year low-interest loan at 1.5 percent to the Greater Berks Development Fund on behalf of Prizer-Painter.
“Keeping my administration’s commitment to moving Pennsylvania’s economy forward continues to send a strong message that Pennsylvania is serious about job creation,” Corbett said. “As a result, the state’s unemployment rate has declined for four consecutive months, dropping below the national average to 7.5 percent.”