Merski: New loan to local Erie business will stimulate new business for region
Rep. Robert Merski February 3, 2021 | 3:49 PM
HARRISBURG, Feb. 3 – State Rep. Bob Merski, D-Erie, issued the following statement today in response to news that real estate holding company AnDi LLC was approved for a business loan for a new commercial venture:
“I’m extremely excited for AnDi LLC, which is going to use the loan for a new commercial project that will bring renewed business activity to the region,” Merski said. “The company plans to purchase about 12 acres located in Fairview Business Park to construct a 95,500-square-foot distribution facility, which it will lease to Allegheny Beverage Company under a 15-year lease agreement. About 10,000 square feet of the new facility will be used for office space, with remaining space to be used as a modern warehouse.
“This is the kind of investment that is going to generate jobs and attract increased economic activity for our area, and I am truly excited about the new venture.”
Merski said AnDI LLC, a real estate holding company through Enterprise Development Center of Erie County, Inc., was approved for a $2.25 million 15-year loan at a 0.75 percent reset rate and comes from through the Pennsylvania Industrial Development Authority.
As a single-tenant building project, the loan will be subject to the retention of Allegheny Beverage Company's 70 full-time employees from their current Erie location and the creation of 10 full-time employees within three years.
The loan is part of a package of $5.4 million in funding. More information is available here.