Curry gets $1.55M loan
State agency funds will help firm renovate Vipond building
Curry Supply Holdings of Roaring Spring was recently approved for a $1.55 million loan through the state Department of Community and Economic Development for its $4 million renovation of the former Vipond building in downtown Altoona.
The Pennsylvania Industrial Development Authority loan at 1.75 percent over 15 years is expected to help Curry create 10 full-time jobs within three years and retain 30 others, according to a news release from the governor’s office.
Curry will consolidate administrative operations for its several custom truck service businesses in the 34,000-square-foot building and also relocate there the operations of one of those businesses — Curry Design, which makes vinyl exterior decals for vehicles, according to local development officials and the news release.
“The PIDA loan is a key part of the overall financing,” said Steve McKnight, CEO of Altoona Blair County Development Corp. “Not only will this investment help bring a building back to life, it will house new jobs and put more feet on the street (in the downtown).”
PIDA low-interest loans are available to businesses “that commit to creating and retaining full-time jobs,” according to the DCED website.
The loans are available for up to 15 years for renovation projects, with interest rates based on current market conditions, according to the website.
Applications are made through certified economic development organizations like ABCD.
The Greater Altoona Economic Development Corp., an ABCD committee, recently approved a $30,000 facade loan and $5,000 mini grant for the Curry project.
Workers have gutted the building and should begin interior reconstruction around the first of next year, after the company gets permit approvals from the city, according Patrick Miller, CEO of GAEDC.
“(Curry) has added long-standing and significant value to the local community, and will continue to do so through the development of this vacant building,” said DCED spokeswoman Casey Smith.
Mirror Staff Writer William Kibler is at 949-7038.