Matzie: Low-interest loan will help area employer expand operations
Funding for Beemac Trucking project to support 200 full-time jobs
HARRISBURG, July 3 – A low-interest loan will help a longstanding Beaver County trucking business construct a new, full-service maintenance and repair facility in Ambridge Borough, state Rep. Rob Matzie, D-Beaver/Allegheny, announced today.
Beemac Trucking, LLC, was approved for the $1.57 million, 15-year loan at a 3% rate through the Pennsylvania Industrial Development Authority.
“This loan is great news, not just for a thriving local business, but for our entire community,” Matzie said. “Beemac has been a productive job creator in Beaver County for 35 years. Funding that will help it grow and expand will support the combined creation and retention of more than 200 full-time jobs for our area.
“I’m so pleased our efforts to help procure this loan were successful. It’s a great way to support our strong regional employers, who give so much back to the community by promoting a healthy economy and producing jobs for our region’s families.”
Matzie noted that Beemac will use the funds to build an eight-bay, state-of-the-art maintenance facility and service shop with a 110-space paved truck and trailer marshaling area. The total project cost is nearly $3.15 million, and the project will enable to company to create 24 full-time jobs and retain 190 full-time jobs within three years.
PIDA provides low-interest loans and lines of credit to Pennsylvania businesses that commit to creating and retaining full-time jobs within the commonwealth, as well as for the development of industrial parks and multi-tenant facilities. In 2019, PIDA has approved a total of $21.59 million in low-interest loans that have resulted in $39 million in private investment and supported 643 created and retained full-time jobs.