Shapiro Administration Invests More Than $4 Million Through New PIDA Loans to Help Businesses Grow in Berks and Lancaster Counties

In 2025, the Pennsylvania Industrial Development Authority (PIDA) has approved $43,236,828 in low interest loans that have resulted in $110,705,508 in private investment, the creation of 282 full-time jobs, and retention of 570 existing jobs.

Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of more than $4 million in new, low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to help boost business growth and create and retain jobs in Berks and Lancaster counties. The projects supported through these loans will inject over $15 million into the local economy and retain 74 existing positions.

In 2025, PIDA has approved $43,236,828 in low interest loans that have resulted in $110,705,508 in private investment, the creation of 282 full-time jobs, and retention of 570 existing jobs.

“These new PIDA loans are an investment in manufacturing innovation, agriculture, and skilled trades in Berks and Lancaster counties,” said Secretary Siger. “The Shapiro Administration is committed to making sure our businesses have the resources they need to grow and thrive, and the loans provided through PIDA help support their success. We’ll continue to make targeted investments like these that secure jobs, encourage business growth, and give opportunities to all Pennsylvanians.”

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.

The approved projects are as follows:

Berks County 

• Bally Ribbon Mills, through the Greater Berks Development Fund, was approved for a 10-year, $2,000,000 loan at a 4.25 percent reset interest rate to acquire an additional unit in the company’s operating facility at 20 North Third Street in Bally Borough. Currently, Bally Ribbon Mills leases 61,391 square feet of manufacturing space at the site. In operation since 1923, the company designs, develops, and manufactures highly specialized engineered woven webbing, tapes, and specialty fabrics for aerospace, defense, medical, safety, automotive, commercial, and industrial applications. The total project cost is $9,750,000.

Lancaster County 

• Founders Market and Co., through EDC Finance Corporation, was approved for a 10-year, $150,000 loan at a five percent fixed interest rate to purchase and install new equipment in the warehouse that the food distribution company leases at 2821 Old Tree Drive in East Hempfield Township. The new equipment is needed to utilize the new 30,000-square-foot warehouse expansion, which has nearly doubled the company’s capacity, adding 2,400 pallet spots. As part of this project, Founders Market and Co. will retain 16 full-time jobs. The total project cost is $343,000.
• Good Transport Services, Inc., through EDC Finance Corporation, was approved for a 15-year, $2,000,000 loan at a 4.25 percent reset interest rate to assist with the construction of a new 19,358-square-foot building located at 4668 Breezyview Drive in Columbia, West Hempfield Township. This project will help the trucking company add and renovate its parts department, shop, service bays, and office, which is expected to double the shop’s revenues in three years. As part of this project, 58 full-time jobs will be retained. The total project cost is $5,289,000.

Since day one, Governor Josh Shapiro and his Administration have been committed to making Pennsylvania a leader in economic development, job creation, and innovation. The 2024-25 enacted budget made significant investments aligned with the overall 10-year Economic Development Strategy.

In his 2025-26 proposed budget, Governor Shapiro is calling for new and expanded investments to implement the economic development strategy and increase the Commonwealth’s competitiveness, including:

• $50 million to strengthen the innovation ecosystem and spur life science job growt
• $10 million for AdvancePA tax credits to create high quality jobs across P
• $12.5 million dedicated to WEDnetPA to expand our workforce and close critical workforce gaps
• $1 million for veteran small business assistance
• $2 million for the creation of Career Connect to build internships at Pennsylvania companies

For more information about the Department of Community and Economic Development, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

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