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HARRISBURG, PA-The commonwealth is investing $11 million in projects throughout the state via low interest loans that have been approved by the Commonwealth Financing Authority. The government assistance, Gov. Edward Rendell says, is part of Pennsylvania’s goal of investing in high-impact projects. “Investments like these are making the difference in projects and communities all over Pennsylvania,” he says.

Funding will be divvied up among the following recipients. In Reading, Hydrojet Inc. is receiving $911,000 to purchase three acres on West Buttonwood St. in an in-town industrial park and construct a 34,000-sf facility there. The advanced-technology manufacturer will be relocating to the facility from its operations on 7th St. A $1.1-million loan has also been granted to help develop and restore the vacant Highland Hall building and grounds on Walnut Street in Hollidaysburg, Blair County. It will become a mixed-use project with office space on the first floor, high-end residential space on the second and third floors and community rental, office and storage in the basement/garden level. Construction may start in March.

Other economic development projects receiving funding include the Greater Berks Development Fund, which has been granted $5 million to create Greater Berks Redevelopment Fund II for additional projects in Reading, West Reading and Wyomissing boroughs. The fund also will assist projects in parts of Boyertown, Hamburg and Kutztown. New Castle and Ellwood City will be covered by a $2-million loan for the Lawrence County Economic Development Corp. to establish the Lawrence County Central Corridor Fund. Another $2-million loan was made to a Sustainable Energy Fund to encourage energy efficient or renewable energy real estate development.

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