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.”