Matzie: Low-interest loan will help area employer modernize operations, expand jobs
HOPEWELL, June 6 – A low-interest loan will help a longstanding area transportation business update its aging information technology infrastructure, state Rep. Rob Matzie, D-Beaver/Allegheny, announced today.
Matzie said the low-interest loan to Hopewell-based flatbed transport business PGT Trucking Inc., will allow the company to purchase new servers, desktop computers, laptop computers and software essential to grow operations. The company was approved for a $400,000, five-year loan at a 3.5% rate through the Beaver County Corporation for Economic Development.
“I’m delighted to learn that our efforts to help secure this loan were successful,” Matzie said. “Investments in companies like PGT yield multiple returns for the community in terms of building our local economy, promoting a healthy local business environment and providing family-sustaining jobs. Today’s loan will help an important area employer update and modernize its operations so that it can function more efficiently and expand, creating more jobs and giving back to our economy.”
Matzie added that the company is expected to create 25 full-time jobs and retain 140 existing jobs.
The loan was one of a package approved through the Pennsylvania Industrial Development Authority for businesses in eight counties statewide. The loans are designed to help businesses at various stages of development – from startups to established businesses seeking to expand – and are projected to create or retain 324 jobs across the commonwealth.