State Loans $5M for Projects in Three Counties

(To read more on the industrial market, click here.)

HARRISBURG, PA-Five manufacturing projects obtained an aggregate of $4.9 million in loans from the Pennsylvania Industrial Development Authority. The lion’s share, approximately $2.8 million, is for three companies in or relocating to Philadelphia. The five projects, according to Gov. Ed Rendell, will create and retain nearly 200 jobs.

The largest of the funding, a $1.4-million PIDA loan, went to Avalanche Lak Assets to acquire and renovate a 260,000-sf building on Grays Ave. in Philadelphia. The building’s tenant, George Kempf Supply Co., is a wholesaler of building materials and supplies. VJ Holdings received a PIDA loan of just over $1 million to build a 32,100-sf building on S 76th Street in Philadelphia. It will be leased to Gourmail Inc., a maker and distributor of canned, frozen and ethnic Indian foods. Tulip 300 LLC obtained a $375,000-loan to acquire and renovate a 70,000-sf building on Tulip St. in Philadelphia, which it will lease to Wickwire Inc., which manufactures and distributes all types of wire. Orbel Corp. obtained just over $1.2 million to acquire and renovate a 57,251-sf building on Danforth Drive in Palmer Twp. in Northampton County. Orbel, which provides photochemical etching and electroplating services for medical, electronics and other industries, will relocate from a facility in New Jersey.

D&M Realty Corp. obtained an $880,000-loan to build a 25,120-sf building on Blue Heron Drive in the Iron Bridge Corporate Center in Perkiomen Twp. in Montgomery County. The facility will house Machined Metals Manufacturing Group Inc., which makes custom machine parts.