PA Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval a new $395,000 low-interest loan through the Altoona Blair County Development Corporation Pennsylvania to support the expansion of Blair Foot and Ankle, LLC in Blair County.
Blair Foot and Ankle, LLC was approved for a 15-year $395,000 PA Industrial Development Authority loan to help with the acquisition of a medical office building located at 739 South Logan Boulevard in Hollidaysburg. The building is a former veterinary clinic that will be renovated to create eight patient rooms and two additional operating rooms. The 5,216-square-foot facility will have 14 parking spaces and sufficient space for the growing demands of the practice. The total project cost is $878,508.
“We are happy to be able to assist with Blair Foot & Ankle’s expansion project through the PIDA program. The project is another example of the strong partnerships between our local banks, DCED, ABCD Corp, and most importantly, the small business owners who continue to make the First Frontier Blair County a special place,” said Tom Seasoltz, VP of Finance & CFO of ABCD Corp. “We especially want to thank Reliance Bank and the Corey family for investing in our community.”
The PIDA loan program is managed locally through the ABCD Corporation. The state program provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.
“PIDA is one of our key economic development investment tools that help businesses like Blair Foot and Ankle grow right here in the Commonwealth,” said Secretary Siger. “This loan will help the company expand and serve more patients in Blair County. The Shapiro Administration will continue to make transformational investments like this one in communities across all Pennsylvania.”
Pennsylvania-based businesses across a variety of industries are eligible to apply for PIDA loans including: agriculture; manufacturing; industrial; research and development; hospitality; defense conversion; recycling; computer-related services; construction; child daycare; mining; retail and service enterprises; developers.
For more information on PIDA Contact Tom Seasoltz at toms@abcdcorp.org.
ABCD Corporation, along with the Blair County Chamber of Commerce, are members of the Blair County Alliance for Business and Economic Growth.
