Conklin: State funding will support job creation, business expansion at Centre County manufacturer
STATE COLLEGE, Oct. 28 – A Philipsburg manufacturer was approved for a $1.8 million loan that will enable it to expand its facility and create jobs, state Rep. Scott Conklin announced today.
Conklin, D-Centre, said the low-interest loan through the Pennsylvania Industrial Development Authority will allow Advanced Powder Products, a metal injection molding manufacturer, to construct a new 27,000-square-foot manufacturing facility. The loan will also provide for future job growth, he added.
“Manufacturing is alive and well in Pennsylvania, and this loan will allow Advanced Powder Products to continue to grow and prosper here in Centre County, supporting local, family-sustaining jobs and positive economic development,” Conklin said. “These funds will not only retain the current level of jobs at the facility but also provide an additional 15 full-time jobs within the next three years.”
PIDA provides low-interest loans and lines of credit to state businesses that commit to creating and retaining full-time jobs within the commonwealth, as well as for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of certified economic development organizations that partner with PIDA.