Governor Tom Corbett today announced that Alternate Heating
Systems LLC (AHS) will move forward with an expansion project that is projected to
support the creation of 19 jobs and the retention of 35 positions in Franklin County.
"Companies like AHS are investing in our communities and employing
Pennsylvanians and my administration is proud to support the growth of these
businesses," Corbett said. "As a result of this expansion project, new jobs are
coming to Franklin County."
AHS, a manufacturer of wood, coal and waste oil boilers, heaters and furnaces, will
acquire an existing 80,000-square-foot facility in Chambersburg Borough. The
company will invest a total of $3.7 million in the project that is projected to create
19 new jobs and retain 35 existing employees.
The Pennsylvania Industrial Development Authority (PIDA) will provide a $1.85
million, 15-year low-interest loan at 1.5 percent to the Franklin Area Development
Corporation on behalf of AHS.
To address a key recommendation of the Governor's Manufacturing Advisory
Council (GMAC), the Department of Community and Economic Development
reduced the interest rates of five business loan programs, including the PIDA. The
rates were reduced from 2.75 percent to 1.5 percent and fees charged to borrowers
were waived. The new rates for PIDA applications expired March 31. The reduced
rates for the additional four programs were extended and are in place for
applications received through June 30.
"My administration's action to address this key GMAC recommendation has sent a
strong message to the business community that we are serious about job creation,"
Corbett said. "The commonwealth's financing support has opened the door for AHS
to obtain the additional private sector capital needed to move this project forward."
In 2013, PIDA has approved $26.4 million in low-interest loans that have resulted
in $53.2 million in private investment and supported 8,389 jobs.
PIDA provides capital for building acquisition, construction and renovation work,
primarily for manufacturers, industrial developers, research and development firms,
agricultural processors and employers looking to establish national or regional
headquarters in Pennsylvania.
For more information about the Department of Community and Economic
Development and other job creation initiatives in Pennsylvania, visit
www.newPA.com, follow us on twitter @newPAnews, or call 1-866-466-3972.