A local cast iron boiler manufacturer has been approved for a low-interest loan from the Pennsylvania Industrial Development Authority.
National HVAC Manufacturing Company LLC in Wyoming will use the $ 268,750 15-year loan with a 1% readjustment fee to renovate its 20,600 square foot facility and purchase machinery and equipment.
Pennsylvania Governor Tom Wolf announced on Wednesday that the funding was provided by the NEPA Alliance. Manufacturing companies in Bucks and Franklin counties have also been approved for PIDA loans.
“Pennsylvania manufacturers are driving our economy, providing essential goods, services and jobs to consumers and workers across the community,” Wolf said in a press release issued by his office. “The financing approved today through PIDA will help companies in three countries to grow and improve their operations through additional space and more efficient equipment and processes.”
The National HVAC Manufacturing Company manufactures and sells residential gas and oil cast iron boilers. The company will use the PIDA loan for renovations, including the installation of new floors and lighting, a new HVAC system, updated bathrooms and offices, and new natural gas and sewer lines.
The total cost of the project is $ 537,500, and the company will create five jobs and maintain two full-time jobs within three years, the press release said.