The Pennsylvania Industrial Development Authority approved four low-interest loans totaling more than $3.8 million on October 7, 2026. The financing supports expansion and facility projects in Bucks, Clearfield, and Lancaster counties. Department of Community and Economic Development Secretary Rick Siger announced the awards, which are projected to inject more than $9.8 million into local economies.
What it means
The loans fund specific capital improvements for four companies. York Snack Food Distribution, Inc. received a $1.25 million reset loan with a 10-year term at 4.50 percent interest to purchase its warehouse at 1574 Bridgewater Road in Bensalem. The company stated the project will create two new full-time jobs and retain 15 existing positions over three years, with total project costs of $3.65 million.
Gasbarre Products, Inc. secured two loans totaling $1.72 million to expand its manufacturing facility at 2 Tom Mix Drive in DuBois. The financing includes a $1.47 million real estate loan with a 15-year term and a $250,000 equipment loan with a 7-year term, both carrying a fixed interest rate of 5.50 percent. Mid Atlantic Steel Fabrication LLC received a $770,165 reset loan to construct a new facility in Paradise. Casmos Café Lancaster, Inc. obtained a $112,909 loan for machinery, equipment, and renovations in Lancaster.
PIDA provides low-interest loans and lines of credit for eligible businesses committing to job creation or retention, industrial parks, and multi-tenant facilities. Funds may be used for land and building acquisitions, construction or renovation, machinery and equipment, working capital, and facility projects. The new awards are part of a broader lending program that has approved $190.7 million in loans since 2023.
Key facts
- Total loan value: More than $3.8 million across four awards.
- Economic impact: Projects expected to inject more than $9.8 million into local economies.
- Job outcomes: 34 new full-time jobs created and 46 existing jobs retained.
- York Snack Food Distribution: $1.25 million loan; 2 new jobs, 15 retained; Bensalem facility.
- Gasbarre Products: $1.72 million in loans (real estate and equipment); DuBois expansion.
- Mid Atlantic Steel Fabrication: $770,165 reset loan for new Paradise facility.
- Casmos Café Lancaster: $112,909 loan for machinery and renovations.
- Historical PIDA activity since 2023: $190.7 million in loans, $492.3 million private investment, 1,611 new jobs, 3,430 retained jobs.
Source: Pennsylvania Department of Community and Economic Development news release