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10/10/2013

Governor Corbett: Low-Interest Loan to Support New Manufacturer Growth in Bucks County

News for Immediate Release

Oct. 10, 2013

Governor Corbett: Low-Interest Loan to Support New Manufacturer Growth in Bucks County

Harrisburg – Governor Tom Corbett today announced that Bucks County-based A&L Foods, Inc. will expand operations and create 13 jobs and retain 14 positions. The company’s acquisition and renovation of a new facility was made possible by a low-interest loan approved by the Pennsylvania Industrial Development Authority. 

“We are seeing progress throughout the state and companies like A&L Foods are expanding and investing in new growth,” said Corbett “The low-interest loan awarded today will help A&L jump start that growth and create new jobs.”   

A&L Foods, Inc., a wholesale distributor of dry, frozen and perishable groceries, will acquire and renovate an existing 30,000-square-foot distribution facility in Bensalem Township, one mile away from its current operations. The company will invest more than $2.3 million in the project that is expected to create 13 new positions and retain 14 existing employees.

The Pennsylvania Industrial Development Authority (PIDA) will provide a $945,000, 15-year, low-interest loan at 2.5 percent to the Bucks County Economic Development Corporation on behalf of A&L Foods, Inc.

In 2013, PIDA has approved $55.8 million in low-interest loans that have resulted in $104.9 million in private investment and supported 10,209 jobs.

PIDA provides capital for building acquisition, construction and renovation work, primarily for manufacturers, industrial developers, research and development firms, agricultural processors and employers looking to establish national or regional headquarters in Pennsylvania.

The Pennsylvania Industrial Development Authority is an independent authority staffed and regulated through the Department of Community and Economic Development.

For more information about the Department of Community and Economic Development and other job creation initiatives in Pennsylvania, visit www.newPA.com, follow us on twitter @newPAnews, or call 1-866-466-3972.

 

Media contact:

Governor’s Office, Kelli Roberts, 717-783-1116

DCED, Edward Jordan, 717-783-1132

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