Matzie announces $1.24 million loan to fund purchase of multi-tenant commercial building in Hopewell Township
AMBRIDGE, Oct. 6 – State Rep. Rob Matzie announced today that a $1.24 million low-interest loan will fund the purchase of a multi-tenant commercial building in Hopewell Township.
Matzie, D-Beaver/Allegheny, said the loan to Pauana Holdings LLC, through the Beaver County Corporation for Economic Development, is an investment that will spur economic growth for the region.
“The funding to Pauana Holdings will allow it to purchase a multi-tenant, 40,000-square-foot building located in Hopewell Township that will offer a combination of office and industrial space,” Matzie said. “That spells great news for the local economy because it will generate new business activity and create at least 25 new, full-time jobs over the next several years.
Matzie said the 15-year loan has a fixed 2.5% interest rate.
The total project cost is $3.2 million.
The loan was approved by the Pennsylvania Industrial Development Authority. More information about the project is available here, and more about PIDA is available here.