SDC Nutrition Invests $1.57 Million To Expand Its Allegheny County, Pennsylvania, Production Facility
The firm will renovate a building in Findlay Township, 24 miles away from its current site. The company will invest more than $1.57 million in the project that is expected to create 20 new positions and retain 25 existing employees.
As an incentive, The Pennsylvania Industrial Development Authority will provide a $785,000, 15-year, low-interest loan at 2.25 percent to Regional Industrial Development Corporation on behalf of SDC Nutrition.
PIDA is an independent authority staffed and regulated through the Pennsylvania Department of Community and Economic Development. The 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.
“Small businesses and manufacturers continue to be drivers of Pennsylvania’s economic growth,” said Governor Tom Corbett. “We’re already beginning to see the successes of the interest rate reduction of some of our business loan programs and today we’re seeing that success in Allegheny County.”
In addition, Governor Corbett recently announced that he has directed the Pennsylvania Department of Community and Economic Development to reduce the interest rates of four of its business loan programs to 1.75 percent to encourage small business and manufacturing growth and new job creation. The PIDA board also reduced its interest rates to 2.25 percent at its February meeting.
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