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PIDA APPROVES $8.6 MILLION IN LOANS FOR 13 PROJECTS

 HARRISBURG, Pa., March 3 /PRNewswire/ -- Gov. Robert P. Casey today said more than $8.6 million in Pennsylvania Industrial Development Authority (PIDA) loans have been approved for 13 projects.
 At its monthly meeting, the PIDA board approved loans to two projects each in Allegheny, Lancaster, Northampton and Somerset counties and one each in Bucks, Clinton, Crawford, Erie and Huntingdon counties. The projects are expected to create 531 jobs and preserve another 195.
 "Each month, PIDA builds on its record as the state's premier economic development program by helping Pennsylvania companies modernize and expand," Casey said. "The impact of PIDA's loans are felt in every section of the state -- where the end results are new opportunities and jobs for our working men and women."
 Low-interest PIDA loans may be used by manufacturers and industrial firms to purchase land and buildings for construction or renovation. Local industrial development groups apply for the funding on behalf of industrial borrowers.
 The projects approved are:
 -- Allegheny County -- $920,000 to American Thermoplastic Co. for construction of a 155,000-square-foot building along Gamma Drive Extension in Pittsburgh. The company, which manufactures loose-leaf paper products, will move its existing operation and 161 employees from a nearby location to the new facility. The $6.8 million project is expected to create 46 new jobs.
 -- Allegheny County -- $720,000 to RIDC of Southwestern Pennsylvania for the renovation of a former Alcoa facility in the Thornhill Industrial Park in Warrendale. The 61,810-square-foot building was occupied by Alcoa until 1990. It will be converted into a small business incubator. Total project cost is $1.8 million.
 -- Bucks County -- $930,560 to Beitel Displays Inc. for acquisition of an 86,000-square-foot building at 180 Canal Road in Fairless Hills. Beitel, which manufactures trade show and museum exhibits, will use the loan to move its existing operation and 35 employees to the site from a nearby location. The $2.3 million project is expected to create 63 jobs.
 -- Clinton County -- $345,000 to Haven Homes Inc. for the acquisition of a 34,000-square-foot building along Pa. 150 in Beech Creek. A group headed by Charles J. Mogish will use the loan to purchase Haven's plant to manufacturer modular homes. The $575,000 project is expected to create 24 jobs.
 -- Crawford County -- $157,500 to Warren Industries Services to build a 10,750 square-foot plant in the Baldwin Street Industrial Park in Meadville. The company, which specializes in graphic arts finishing and contract packaging, will use the loan to expand its operations. The $315,000 project will create 12 jobs.
 -- Erie County -- $275,000 to Medical Manufacturing Corp. for construction of a 3,000-square-foot building at 2205 E. 33rd St. in Erie. The company, which is expanding its operation, currently manufactures medical equipment at the site. The $550,000 project is expected to create 42 jobs.
 -- Huntingdon County -- $238,782 to the Bonney Forge Corp. for a 9,820 square-foot expansion project along U.S. 522 South in Mount Union. The company, which manufactures valves, fittings and branch connectors, will use the loan to expand its operations. The $398,000 project is expected to create 16 jobs.
 -- Lancaster County -- $1.57 million to Pinnacle Mortgage Investment Corp. to buy and renovate a 65,000-square-foot building at 48-50 W. Chestnut St. in Lancaster. The mortgage banking company will use the loan to consolidate two nearby operations to the site and establish a regional headquarters at the site. The $3.1 million project will create 211 jobs.
 -- Lancaster County -- $535,383 to Kalas Manufacturing Inc. for a 30,000 square-foot expansion project at Denver Road in the Stony Industrial Park in Denver. The insulated wire manufacturer is increasing the size of its operation. The $1.3 million project will preserve 195 jobs.
 -- Northampton County -- $628,000 to GOW-MAC Instruments Co. to build a 27,200-square-foot building in the Lehigh Industrial Park. The company, which designs and manufactures analytical instruments for pharmaceutical and chemical companies, is expanding its operations to the site from its nearby New Jersey facility. The $1.5 million project will create 61 jobs.
 -- Northampton County -- $1.5 million to the Northampton County New Jobs Corp. for construction of a 44,100-square-foot building at East Second and Columbia streets in Bethlehem. Located in an enterprise zone, the facility will be built on the site of a former Bethlehem Steel merchant bar manufacturing facility. The building will house companies that have reached their time limit at the nearby Ben Franklin Incubator at Lehigh University. The total cost of the project is more than $3.7 million.
 -- Somerset County -- $92,127 to CC + Inc. for acquisition and renovation of a 6,248-square-foot building at 1301 Jefferson Ave. in Windber. The company, which manufactures concrete lawn ornaments and furniture, will use the loan to expand its operations. The $153,546 project will create nine jobs.
 -- Somerset County -- $741,813 to Thiele Industries Inc. for acquisition of a 199,000-square-foot building at the intersection of Pa. 56 and Spruce Street in Windber. The company, which manufactures custom truck bodies, will use the loan to reopen its plant, which has been closed since 1991. The $1.2 million project will create 47 jobs.
 /delval/
 -0- 3/3/93
 /CONTACT: Dennis V. Curtin of the Pennsylvania Department of Commerce, 717-783-1132/


CO: Pennsylvania Department of Commerce ST: Pennsylvania IN: SU:

MJ-CC -- PH027 -- 2649 03/03/93 17:05 EST
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