HARRISBURG, Pa., April 8, 2011 /PRNewswire-USNewswire/ -- The Commonwealth Financing Authority (CFA) has approved $905,000 in loans that support the expansion and growth of farming operations in four counties through five different projects that will leverage more than $1.5 million in private investments.
The investments support farming operations in Berks, Perry, Lancaster and Snyder counties, Department of Community and Economic Development acting Secretary C. Alan Walker said.
"These new investments made through the Commonwealth Financing Authority provide continued support for one of Pennsylvania's largest industries," Walker said. "By investing in agriculture, we are helping to position Pennsylvania's rural communities for future economic stability and growth."
The funding was approved through Pennsylvania's First Industries Agriculture program.
Pennsylvania's First Industries Agriculture program provides loans, loan guarantees and grants to strengthen the state's agriculture industries by encouraging rural economic development and job creation.
For more information, call 1-866-466-3972 or visit www.newpa.com.
Media contact: Theresa Elliott, DCED; 717-783-1132
Editor's Note: The projects approved by the Commonwealth Financing Authority on April 7 are listed below:
Dana and Debra Stoudt received a $160,000 First Industries Agriculture loan to help finance various building additions and to purchase equipment for a milking system, silo un-loaders, 3,000 gallon bulk-milk tank and feed conveyors in Bernville. The primary business of Dana and Debra Stoudt is the operation of a dairy farm. The total cost of the project is $320,000.
Darrel and Kelly Martin (on behalf of Martin Grandview Farms LLC) received a $200,000 First Industries Agriculture loan toward the purchase of a 112-acre crop, poultry and cattle farm in Mount Joy. Martin Grandview Farms, LLC is the operation of a crop, poultry and cattle farm. The total cost of the project is $570,000.
Joseph Wivell received a $200,000 First Industries Agriculture loan toward the construction of a new free-stall dairy barn with a double-six milking parlor in Columbia. The primary business for Joseph C. Wivell farm is the operation of a dairy farm. The total cost of the project is $410,000.
Jason and Rhonda Saylor (doing business as Witmer Farms) received a $200,000 First Industries Agriculture loan towards the purchase of 423-acres, which includes, three dwellings, 2 two-story broiler houses, a beef feed lot and several banked barns in Liverpool. The primary operation of Witmer Farms is raising chickens, cattle and crops. The total cost of the project is $820,000.
Steven and Andrea Smith received a $145,000 First Industries Agriculture loan to construct a large poultry house in Middleburg. The primary operation of Steven M. and Andrea B. Smith farm is the operation of a poultry farm. The total cost of the project is $290,000.
SOURCE Pennsylvania Department of Community & Economic Development