The Department of Community and Economic Development Secretary, Dennis Davin, has announced that new state investments through the Pennsylvania Industrial Development Authority (PIDA) program will support the continued growth of Pennsylvania small businesses.
One such company is American Wire Research, Inc., that was awarded a USD $3.2 million, 7-year loan at 1.5 percent fixed rate. The loan will be used for the purchase of machinery and equipment that will be utilized at their Wilmerding facility to manufacture wire and other cut length stainless steel products. The project is expected to create 150 new jobs. The total project cost is projected to be approximately USD $6.4 million.