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GOV. CASEY ANNOUNCES PIDA LOANS FOR PROJECTS TO CREATE 507 JOBS

 HARRISBURG, Pa., June 2 /PRNewswire/ -- Gov. Robert P. Casey today announced the approval of more than $7.1 million in Pennsylvania Industrial Development Authority (PIDA) loans for 10 business expansion and modernization projects that are expected to create 507 jobs and preserve 70 others.
 At its monthly meeting, chaired by Commerce Secretary Andrew T. Greenberg, the PIDA board approved loans for two projects in Philadelphia and one each in Bucks, Butler, Cambria, Chester, Crawford, Elk, McKean and Schuylkill counties.
 Since 1987, PIDA has provided $481 million in financing for projects that have created more than 38,000 new jobs and preserved 2,800 existing jobs.
 "PIDA loans are helping Pennsylvania businesses expand and compete and at the same time are generating new job opportunities across the Commonwealth," Casey said.
 PIDA loans, awarded at low-interest rates, may be used by manufacturers and industrial firms to purchase land and buildings or for construction or renovation. Applications are made by local industrial development groups on behalf of industrial borrowers.
 The following loans were approved:
 Bucks County -- $591,580 to Penn Stainless Products Inc. for the construction of a 57,000-square-foot building at Kelly Road in Quakertown. The company, which manufactures and distributes stainless products, will use the loan to move its operation from a nearby site to larger quarters. The $1.4 million project is expected to preserve 48 jobs.
 Butler County -- $506,385 to Allegheny Plastics Inc. for the acquisition and renovation of a 26,500-square-foot building at 1224 Freedom Road at Mars (Cranberry Township). The company, which produces laminated charts, plastic machine parts and tank covers, will use the loan to expand its operations in the area. The $1.2 million project is expected to create 26 jobs.
 Cambria County -- $434,805 To Southern Allegheny Wood Products Inc. for the acquisition of a 52,844-square-foot building at the Cambria County Industrial Park in Ebensburg. The company, which specializes in the manufacture of wooden door frames and molding, will use the loan to move to a larger facility from a nearby site and to expand its operations. The $724,000 project is expected to create 26 jobs.
 Chester County -- $1,125,000 to Chemical Waste Management of PA for a 40,000-square-foot expansion project at 1050 W. 11th Ave. in Coatesville. The company, which is scheduled to open an operation at the site in November, will use the loan to expand an existing building. The $3.9 million project is expected to create 79 jobs.
 Crawford County -- 234,600 to Buffalo Structural Steel for the acquisition and renovation of a 44,000-square-foot building at 106 W. Mechanic St. in Titusville. The steel fabricator will use the loan to acquire the building it currently leases and to renovate other portions of the site. The $394,000 project is expected to preserve 22 jobs.
 Elk County -- $200,000 to Comtec Manufacturing Inc. for a 12,375- square-foot expansion project along Windfall Road in St. Marys. The company, which designs and manufactures powdered metal components, will use the loan to expand its operation at the site it currently occupies and to increase its production. The $410,000 project is expected to create 14 jobs.
 McKean County -- $561,000 to Bradford Forest Products for the acquisition of a 51,000-square-foot building at 444 High St. in Bradford. The hardwood processor will use the loan to acquire a site adjoining its existing operation in the area. The $1.4 million project is expected to create 79 jobs.
 Philadelphia -- $645,000 to Liss Brothers Inc. for a 7,000-square- foot expansion and the renovation of a 426,000-square-foot building at 14501 Townsend Road. The warehouse/distribution company, which serves 3,000 customers, will consolidate its three New Jersey warehouses to Philadelphia. The $1.3 million project is expected to create 46 jobs.
 Philadelphia -- $2 million to Rosenbluth International for a 144,000-square-foot expansion and renovation project at 2401 Walnut St. The travel service company is expanding its national and world headquarters at the site. The $5.5 million project is expected to create 174 jobs.
 Schuylkill County -- $800,000 to Hollander Home Fashions Corp. for the acquisition and renovation of a 137,784-square-foot building in the Frackville Industrial Park. The company, which manufactures pillows and comforters, will use the loan to expand from a nearby site. The $1.6 million project is expected to create 63 jobs.
 /delval/
 -0- 6/2/93
 /CONTACT: Dennis V. Curtin of the Department of Commerce, 717-783-1132/


CO: Pennsylvania Department of Commerce ST: Pennsylvania IN: SU: MJ -- PH025 -- 4601 06/02/93 16:24 EDT
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Date:Jun 2, 1993
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