Ritchey’s approved for loan
Funds to be used to expand dairy
HARRISBURG — The Pennsylvania Industrial Development Authority has approved a low-interest loan for Ritchey’s Dairy in Martinsburg for an expansion project Sen. Judy Ward, R-Blair, and Rep. Jim Gregory, R-Hollidaysburg, said Ritchey’s Dairy Inc. was approved for a $762,550, 10-year loan at a 2.5% interest rate through the Altoona-Blair County Development Corp. for the expansion of its existing dairy production facility.
The 7,663-square-foot expansion will increase dry and cold storage, as well as allow the expansion of the dairy processing and packaging operation. The project will allow the company to retain 34 full-time jobs within three years.
“I am so grateful that Ritchey’s Dairy, with this PIDA loan, is expanding its business and in turn committing to stay here locally. Ensuring businesses stay and grow is so important to small communities like Martinsburg,” said Ward.
Gregory said, “This is exciting news for the company and those who work at Ritchey’s Dairy. I am pleased PIDA recognized the value of Ritchey’s Dairy and selected it to receive a low-interest loan that will help this local, family-operated business continue to thrive and provide jobs for those in the community.”