DCED: New State Investments Boosting Agriculture, Tourism Industries in 8 Counties

HARRISBURG, Pa., Nov. 16, 2010 /PRNewswire-USNewswire/ -- New state investments and loan guarantees approved today by the Commonwealth Financing Authority are providing an influx of capital to help make projects in Pennsylvania's two leading industries a reality, Department of Community and Economic Development Secretary Austin Burke announced today.

In total, the CFA approved $1.6 million in loans and $2.5 million in loan guarantees to benefit 13 different projects throughout Pennsylvania. The state funds will be leveraged to attract more than $19 million in additional private investments.

"These are important investments in the state's two largest industries: agriculture and tourism," said Department of Community and Economic Development Secretary Austin Burke. "They encourage job creation, sustain our rural communities, and bring visitors and their tourism dollars to the state."

The funding was approved through the state's First Industries program, which provides loans, loan guarantees and grants to strengthen the state's agriculture and tourism industries.

For more information, call 1-866-466-3972 or visit www.newpa.com.

Media contacts:  Theresa Elliott, 717-783-1132

Editor's Note: The projects approved by the Commonwealth Financing Authority today are listed below:

Bradford County

Peace Motel Inc. received a $200,000 First Industries tourism loan toward the construction of a $6.3 million, 60-room hotel in Towanda.

Berks County

Kervin and Mary Weaver received a $200,000 First Industries agriculture loan for the construction of two broiler houses in Fleetwood for $750,000.

Clair and Jane Martin received a $200,000 First Industries agriculture loan toward the construction of two broiler houses in Fleetwood for $725,000.

Jefferson County

Cathedral Pines, doing business as Gateway Lodge, received a $100,000 First Industries tourism loan toward the $210,000 renovation of a hotel and restaurant in Cooksburg.

Lancaster County

Randall and Jodie Brubaker received a $200,000 First Industries agriculture loan toward the $640,000 construction of two broiler houses in Manheim.  

Mark Rohrer received a $185,000 First Industries agriculture loan toward the $370,000 construction of a broiler house in Strasburg.

Todd Rohrer received a $185,000 First Industries agriculture loan toward the $370,000 construction of a broiler house in Strasburg.

James and Melissa Landis received a $200,000 First Industries agriculture loan toward the $710,000 construction of two broiler houses in Quarryville.

Lebanon County

Harold and Barbara Kreider received a $200,000 First Industries agriculture loan toward the $971,200 construction of two broiler houses in Lebanon.

Glendon and Yvonne Horst received a $200,000 First Industries agriculture loan for the $726,500 construction of two broiler houses in Newmanstown.

Mifflin County

David and Ruth Yoder Brent received a $200,000 First Industries agriculture loan toward the $1.1 million purchase of robotic milking equipment in Belleville.

Snyder County

Leander and Neila Zook received a $200,000 First Industries agriculture loan for the $450,000 construction of an 18,000-bird, cage-free layer house in Middleburg.

York County

Hospitality at York LLC received a $2.5 million First Industries guarantee on a $6 million loan from PeoplesBank, which will be used to pay for the construction of a new hotel.

SOURCE Pennsylvania Department of Community & Economic Development