PIDC Financing Corp., the financing arm of Philadelphia Industrial Development Corp., will use the $1.8-million loan to construct a 92,200-sf industrial facility in the Millbrook section of Philadelphia. It anticipates that the building, located on five acres at Red Lion and Drummond roads, which is a designated Keystone Opportunity Zone, will house five tenants and generate at least 40 full-time jobs.
Formtech Enterprises will relocate is current manufacturing plant to a new, 80,000-sf facility in the Fairview Business Park in Erie County. The park is a designated KOZ. The manufacturer of extruded plastic products, such as office furniture and store fixtures, will retain 51 jobs and create at least 12 more within three years. Alcor Corp., also in Erie County, received $875,000 to buy the 86,500-sf frozen food center it has been occupying since 1981.
Wolf Furniture Enterprises, a furniture distributor in Blair County, obtained a $1.2-million loan for a 37,000-sf expansion of its existing 140,000-sf warehouse. Breathe Safe Air Systems in Warrington Township in Bucks County and Pennsylvania Powdered Metals in St. Marys in Elk County, received loans of $196,000 and $100,000, respectively, for relocation and expansion.
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