Two Northampton County businesses received over $1 million in state loans. WDIY Local News

Two businesses in Northampton County have received millions of dollars in funding to support growth and new jobs, according to Gov. Tom Wolfe. WDIY’s Sarit Laschinsky has more.

Wolf announced Wednesday that six new low-interest loans totaling more than $9 million have been approved through the Pennsylvania Industrial Development Agency.

According to the release, the funds will not only support business growth in the five counties, but also help create and sustain a total of 287 jobs.

In Northampton County, Continental Cup Company has been approved for a $210,000 loan over 10 years at a set rate of 3.75% through Lehigh Valley Economic Investment Corporation.

The loan will help purchase machinery and equipment such as forklifts, lid automation systems and dome lid molds for the company’s manufacturing facility at 1920 Spillman Drive in Bethlehem City.

The total cost of the project is $491,562, according to Wolf’s office, and the company is committed to creating 44 new full-time jobs and retaining 27 employees over three years.

In addition, Green Leaf Productions has been approved for a 10-year, $945,000 loan at a 3% reset interest rate through LVEIC to purchase a new 10,000 sq ft office building at 161 North Commerce Way, Bethlehem .

The project site will be used as a full-service multimedia production facility with a total project cost of $2.1 million. Green Leaf Productions also promises to create 25 new full-time jobs within three years.

Other loans went to businesses in Armstrong, Bucks, Lackawanna and Wyoming counties.

So far in 2022, PIDA has approved $41,505,998 in low-interest loans, brought in $90,918,585 in private investment, and created and maintained 998 full-time jobs, according to Wolf’s office.

Since 2015, PIDA has approved $43,284,275 million in loans, resulting in private investment of $818,899,754 and creating or retaining 15,763 full-time jobs.

(First broadcast date: 22/11/3)

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