Shapiro Administration Invests Over $4.1 Million Through New PIDA Loans to Help Businesses Grow in Bucks, Erie, and Lancaster Counties, Create Jobs for Pennsylvanians

The projects supported through these PIDA loans will inject more than $15.2 million into the economy, create 34 new jobs, and retain 98 existing positions.

Since the Shapiro Administration took office in 2023, the Pennsylvania Industrial Development Authority (PIDA) has approved $161,400,538 in low-interest loans that have resulted in $412,782,567 in private investment, the creation of 1,349 full-time jobs, and retention of 2,394 existing jobs.

Harrisburg, PA - Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of over $4.1 million in three new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to help boost business growth and create and retain jobs in Bucks, Erie, and Lancaster counties. The projects supported through these loans will inject over $15.2 million into the local economy, create 34 new, full-time jobs, and retain 98 existing jobs.

Governor Josh Shapiro is committed to making Pennsylvania an economic development leader by investing in growing businesses, supporting manufacturing and other key industries, and creating real opportunities for Pennsylvanians. Since 2023 under the Shapiro Administration, PIDA has approved $161,400,538 in low-interest loans that have resulted in $412,782,567 in private investment, the creation of 1,349 full-time jobs, and retention of 2,394 existing jobs.

"The Shapiro Administration is supporting businesses across Pennsylvania by ensuring they have the resources they need to grow, compete, and succeed," said Secretary Siger. "These new PIDA loans are strategic investments that will help drive business expansions, create good-paying jobs, and strengthen local supply chains in Bucks, Erie, and Lancaster counties. Under Governor Shapiro's leadership, we're continuing to build sustained economic momentum that benefits communities and residents across our Commonwealth."

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 

• The Two Little Guys Company, through the Bucks County Industrial Development Authority, was approved for a 15-year, $1,220,000 loan at a 4.25 percent reset interest rate to acquire an industrial facility located at 1324 Adams Road in Bensalem. The acquisition of the industrial facility will allow The Two Little Guys Company to relocate their world headquarters from New Jersey to Bucks County and expand manufacturing operations at the new facility. The total project cost is $3,050,000.

Erie County 

• Erie Cotton Products Inc., through the Enterprise Development Center of Erie County, was approved for a 15-year, $890,000 loan at a 4.25 percent reset interest rate to purchase a 40,212-square-foot building located at 1705 Raspberry Street in Erie. This property offers warehouse space, shipping infrastructure such as loading docks, and an office area for the administrative duties that will allow the company to keep up with increased demand for its products. The total project cost is $2,225,000.

Lancaster County 

• Visual Solutions Group, LLC, through the EDC Finance Corporation, was approved for a 10-year, $2,000,000 loan at a 4.25 percent reset interest rate to purchase a 72,141-square-foot facility at 1811 Rohrerstown Road in Lancaster. The entities held under Visual Solutions Group, LLC are currently leasing 75 percent of the facility and now wish to purchase the real estate. The main focus of the business is to create custom signs, banners, and graphics to assist clients in increasing business visibility. The total project cost is $10,000,000.

Since taking office, Governor Shapiro and his Administration have secured over $40.4 billion in private sector investments, creating more than 22,400​ jobs. Analysis from Moody's Analytics Chief Economist Mark Zandi confirms that Pennsylvania remains the only state in the Northeast with a growing economy. Governor Shapiro is committed to making Pennsylvania an economic development leader ― his recently unveiled 2026-27 state budget continues to focus on boosting the Commonwealth's economic potential and growing the economy.

For more information about PIDA or the Department of Community and Economic Development, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

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