Cardolite Corporation has been approved to borrow funds from PIDA, the loan amount is $1,250,000 and a total project cost of $3,180,000. The funds will be used to purchase a 32,000 plus square foot building in Bristol Township. Cardolite will be relocating from New Jersey and creating 25 jobs in Bucks County. Cardolite is a specialty chemical company creating coatings from cashew nut shells for industrial uses. The building is in an Enterprise Zone.
A healthy snack food company, Farm & Oven Snacks, Inc., received PIDA approval to borrow $275,000 to purchase equipment and set up their business in Warminster Township. A total project cost of $550,000. Farm & Oven Snacks, Inc. will create 6 new jobs. The company will be occupying 10,000 square foot located in a Keystone Innovation Zone.
American Overhead Door & Dock, Inc. will be retaining 35 jobs in Levittown, Bristol Township with the Real Estate and Equipment loan approved from PIDA. The loan amount is for a combined total of $621,000 and a total project cost of $1,410,000. American Overhead Door & Dock, Inc. is a sales, installation and service company specializing in the commercial and industrial garage door and loading dock industry. Loan proceeds will be used to purchase a 24,000 square foot building and new equipment.
An investor developer, 1801 S. Pennsylvania Ave, LLC, has been approved to borrow $1,000,000 from PIDA, a total project costs of $2,000,000. The loan will be used to purchase a 23,000 square foot building in Falls Township. The building is in an Enterprise Zone and Keystone Innovation Zone.
|Municipality||Loan Program||$ Borrowed||SQ FT||Reason for Loan||Jobs |
|Bristol||PIDA-small||$57,000||Machinery & Equipment||0||0|
|Warminster||PIDA-small||$275,000||10,000||Machinery & Equipment||0||6|