PIDA Loan Awarded to Tesco – The Eastern Specialty Company
A PIDA loan for $2,250,000 was awarded to Tesco – The Eastern Specialty Company, manufacturer of equipment for the electrical metering segment of the utility industry, serving almost all the electrical utilities in the country.
The loan will be used to acquire the building where TESCO has resided for over 40 years among other clients. The building consists of 300,000 square foot over four buildings, it is known as the Grundy Mill Complex & Clock Tower located in Bristol Borough. By Tesco purchasing the building it will remain a multitenant building with Tesco occupying the most space in the building. The project retained over 190 jobs with a total cost of $15,250,000.