Shapiro Administration Invests More Than $3.8 Million Through New PIDA Loans to Create Jobs, Help Businesses Grow in Three Counties

The projects supported by these loans through the Pennsylvania Industrial Development Authority (PIDA) will inject more than $9.8 million into the economy, create 34 new jobs, and retain 46 existing positions.

Since the Shapiro Administration took office in 2023, PIDA has approved $190,745,811 in low-interest loans that have resulted in $492,303,719 in private investment, the creation of 1,611 full-time jobs, and the retention of 3,430 existing jobs.

Harrisburg, PA - Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of more than $3.8 million in four new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to help support business growth in Bucks, Clearfield, and Lancaster counties. Together, these projects will inject more than $9.8 million into the local economy, create 34 new, full-time jobs, and retain 46 existing jobs.

Governor Josh Shapiro is making Pennsylvania an economic development leader by investing in growing businesses, supporting manufacturing and other key industries, and creating real opportunities for Pennsylvanians.

"The Shapiro Administration is not only investing in Pennsylvania businesses, but also communities, families, and opportunities for success," said Secretary Siger. "These PIDA loans will support four businesses, adding 34 new jobs, retaining 46 more, and generating nearly $10 million in economic activity for these communities. These investments are improving lives and providing a pathway to economic success for the Commonwealth."

Since the Shapiro Administration took office in 2023, PIDA has approved $190,745,811 in low-interest loans that have resulted in $492,303,719 in private investment, the creation of 1,611 full-time jobs, and the retention of 3,430 existing jobs.

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.

The approved projects are as follows: 

Bucks County

• York Snack Food Distribution, Inc., through the Bucks County Industrial Development Authority, was approved for a 10-year, $1,250,000 reset loan at a 4.50 percent interest rate to allow the company to secure permanent ownership of the warehouse facility located at 1574 Bridgewater Road in Bensalem. The company currently operates from this leased facility where it supplies convenience stores, supermarkets, wholesalers, and vending operators across the Mid-Atlantic, and facility ownership will support expanded purchasing, faster order fulfillment, and more efficient logistics. York Snack Food Distribution committed to retaining 15 full-time jobs and create 2 new full-time jobs within three years. The total project cost is $3,650,000.

Clearfield County

• Gasbarre Products, Inc., through the Clearfield County Economic Development Corporation, was approved for a 15-year, $1,471,500 real estate loan and a 7-year, $250,000 equipment loan at a 5.50 percent fixed interest rate to support the expansion of its manufacturing facility located at 2 Tom Mix Drive in DuBois. The project entails the construction of approximately 15,000 square feet of new manufacturing space, which will increase production capacity for advanced powder compaction press systems used in the manufacture of rare earth permanent magnets, a critical component of domestic energy, transportation, electronics, and defense supply chains. Gasbarre Products committed to retaining 18 full-time jobs and create 27 new full-time jobs within three years. The total project cost is $4,000,000.

Lancaster County

• Mid Atlantic Steel Fabrication LLC, through the EDC Finance Corporation, was approved for a 15-year, $770,165 reset loan at a 4.50 percent interest rate to support construction of a new facility at 105 Ola Way in Paradise. The new building, a 10,392- square-foot wood-framed building on a 2.58-acre parcel, will help increase production capacity and efficiency, as the company's current space is operating at full capacity. Mid Atlantic Steel committed to retaining 13 full-time jobs and create 5 new full-time jobs within three years. The total project cost is $1,540,330.
• Casmos Café Lancaster, Inc., through the EDC Finance Corporation, was approved for a 6-year, $112,909 loan at a 5.00 percent fixed interest rate to purchase new machinery and equipment and to complete renovations at the restaurant located at 101 North Queen Street in Lancaster. The equipment includes food safety and storge upgrades and general appliances and the renovation will cover utility, health and safety, and appearance upgrades. The total project cost is $392,818.

Since taking office, Governor Shapiro has made Pennsylvania more competitive - attracting over $43 billion in private-sector investment while creating more than 29,000 new jobs across the Commonwealth and earning national recognition.

The Governor's 2026-27 budget builds on this momentum by investing in long-term economic growth and ensuring communities across the Commonwealth can compete and win.

Learn more about the Shapiro Administration's efforts to support Pennsylvania's workers and businesses and spur the economy, to build a stronger, more competitive economy for all Pennsylvanians.

For more information about PIDA or DCED, visit the agency's website, Facebook, X, and LinkedIn.

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