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Pennsylvania Invests $4 Million In Agriculture And Tourism Industries

Source: Governor of Pennsylvania
Posted on: 11th November 2009

New state investments designed to expand and strengthen Pennsylvania’s tourism and agriculture industries in were approved today, Governor Edward G. Rendell said.

“The nearly $4 million Pennsylvania is investing today will help farmers build crop storage facilities, renovate buildings, and purchase farmland, as well as help to develop tourist attractions,” Governor Rendell said after the Commonwealth Financing Authority approved the projects at its monthly meeting.

“Not only does the financial assistance demonstrate our continued commitment to supporting our two largest industries, it will encourage job growth and economic development in rural communities.”

The state’s assistance comes from the First Industries Fund, which offers loans, loan guarantees, and grants that are designed to strengthen Pennsylvania’s agriculture and tourism industries by encouraging rural economic development and job creation.

The Commonwealth Financing Authority approved loans and guarantees for 17 projects in 14 counties that will leverage an additional $12.6 million in private investment.

Also at today’s meeting, the authority announced that First Industries Fund loans are available for land, building and equipment costs at a fixed 5.9 percent interest rate.

One of today’s approved projects, a First Industries Small Business First Tourism loan for $200,000, was awarded to the Adams County Economic Development Corp. on behalf of Gettysburg History Center Inc. The funds will be used to buy and convert an existing building into a new museum—dedicated to the Battle of Gettysburg—and gift shop.

Stonycreek Shooting Center Inc. also received a First Industries Small Business First Tourism loan, for $15,000. The shooting range and hunting preserve currently offers rifle and pistol target shooting, and upland bird hunting.

The funds will be used toward the $30,000 purchase of a long-range wireless release system for trap shooting, which is expected to increase business.
For more information on state investment programs available through the Department of Community and Economic Development, visit www.newpa.com or call 1-866-466-3972.

The following projects were approved by the Commonwealth Financing Authority:

Adams County
$200,000 tourism loan to Gettysburg History Center Inc. toward the $700,000 purchase of an existing building in Gettysburg.

Berks County
$200,000 agriculture loan to Kratz Brothers Farms LLC towards the $460,000 purchase of 69 acres in Hamburg.

Chester County
• $200,000 agriculture loan to Hy-Tech Mushroom Compost Inc. towards the $947,364 renovation of compost tunnels in West Grove.
• $125,000 agriculture loan to CT Bartoli Mushrooms Inc. towards the $250,000 purchase of five air conditioning units in Cochranville.

Clearfield County
$125,000 Second Stage Loan Program guarantee totaling $500,000 from the Northwest Savings Bank. The loan guarantee will be used to finance the purchase of new equipment by Xtreme Machining LLC for use in a specialized machine shop.

Clinton County
$687,500 machinery and equipment loan to Nicholas Meats LLC for the $2.4 million purchase of meat handling and processing equipment in Loganton.

Elk County
$20,000 tourism loan to Chong Wen Jim d/b/a ChinAmerica Place towards the $405,000 purchase and renovation of real estate in St. Marys.

Fayette County
• $125,000 tourism loan to VADA LLC d/b/a River’s Edge Campground towards the $285,000 costs to renovate existing camp sites and to construct additional camp sites in Connellsville.
• $100,000 tourism loan to Seams Like Home LLC will be used towards the $402,550 purchase of a 7,200-square-foot building in Vanderbilt.

Franklin County
$200,000 agriculture loan to Jo-Bri-Den Farms for the $601,850 purchase of 102 acres in Newburg.

Lancaster County
$200,000 machinery and equipment loan to Curtis and Epsucheolige Hoffman for the $429,350 purchase of robotic milkers and other equipment for the dairy operation in Manheim.

Luzerne County
$200,000 agriculture loan to Wolk’s Tree Farm LLC for the $1.3 million purchase of a 240-acre farm in Drums.

Northumberland County
• $163,000 agriculture loan to Cotner Farms Inc. and Don Cotner Farms Partnership towards the $1.2 million renovation of a layer house and to construct a manure-storage facility in Danville.
• $458,500 machinery and equipment loan to Cotner Farms Inc. for the $917,000 purchase of machinery and equipment to modernize a high rise layer house in Danville.

Schuylkill County
$200,000 agriculture loan to Tallman Family Farms LLC to construct a $1 million potato storage facility in Tower City.

Somerset County
$15,000 tourism loan to Stonycreek Shooting Center Inc. for the $30,000 purchase of a digital wireless release system for trap shooting in Berlin.

Snyder County
$558,000 tourism loan guarantee of a loan totaling $620,000 from AgChoice Farm Credit ACA. The loan guarantee will be used to finance the construction of two broiler houses, as well as for site preparation, related costs, and to purchase new equipment.

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