Trending
DelGrosso Foods Inc., through the Altoona-Blair County Development Corporation, was approved for a 15-year, $1.6 million Pennsylvania Industrial Development Authority loan. The PIDA loan has a 5.25% reset interest rate and will be used to assist the Blair County company with the purchase of a 78,500-square-foot warehouse at 150 Enterprise Campus Drive in Altoona. The purchase of the warehouse will eliminate a capital lease payment in exchange for a smaller debt service payment.
DelGrosso Foods Inc. committed to retaining 196 full-time jobs within three years. The total project cost is $3.21 million, according to Rick Siger, secretary of the state Department of Community and Economic Development.
The announcement of the DelGrosso Foods loan was among five new, low-interest loans approved to help support business growth in Bedford, Blair, Lancaster and Lehigh counties. Together, these projects will inject more than $19.3 million into the local economy, create 15 new full-time jobs and retain 224 existing jobs, Siger said.
The Bedford County Development Association was approved for a 10-year, $401,760 loan at a 4.50% reset interest rate to assist with the buildout of about 9,000 square feet within the BCDA Business Center and provide a new and larger facility to allow Burkett’s Watch Me Grow daycare center to expand its capacity from 65 to 100 children, creating access for 35 additional children and helping working families remain in the workforce, Siger said.
The project includes the construction and buildout of a 9,000-square-foot daycare center that includes five classrooms, nine restrooms, commercial kitchen facility, office, conference room, storage space and outdoor recreation area. The total project cost is about $1 million.