PIDA, Tax Free & SBA Financing Support Local Economic Growth
With an approved PIDA loan of $668,000 Griff & Associates, LP, DBA Griff Paper & Film is purchasing a new building at 9 Headley Place, Bristol Township. The new building will be used to set up a new production line and additional warehouse space. The project will result in the creation of eight jobs. The total project cost is $1,500,000. The company is located in an Enterprise Zone. Griff Paper & Film is a leader in supplying U.S. and global industries with specialty paper and film products.
PIDA approved Evenlite, Inc. to borrow $1,430,000; a total project cost of $3,540,000. The funds will be used to purchase 2555 Metropolitan Drive, Bensalem Township. The company will relocate 33 jobs to the new site and create an additional eight jobs. Evenlite, Inc. is a designer, manufacturer, and marketer of emergency lighting products.
Gelest, Inc. has been approved thru the Quakertown Area Commercial and Industrial Development Authority (QAICDA) for tax-exempt bond financing in the amount $4,250,000 to construct a manufacturing lab at 11 East Steel Road facility in Falls Township. The project will help retain 97 jobs and create 15 new jobs. Gelest manufactures and provides silane, silicone and metal-organic compounds to the advanced technology markets. The company has also been approved via the QAICDA for tax-exempt bond financing in the amount of $5,716,000 to restricting some existing debt.
BCEDC, 44 Business Capital and Continental Bank have collaborated to assist companies who do not qualify for conventional bank financing thru these partnerships the client is able to realize their funding goals through SBA financing. These organizations understand that by fostering the growth of small businesses in our communities, they can have an impact on job creation and preserving employment opportunities for Bucks County. The following companies have benefitted from these relationships:
• TC Millwork, Bensalem Township
• Mega Wholesale, Bensalem Township
• Peace Tree, Nockamixon Township
• GMA Manufacturing, Inc., Upper Southampton Township