2008 Archives
The Harrisburg Regional Chamber & CREDC Provides Financing For JEM Group to Stay in City of Harrisburg
THE HARRISBURG REGIONAL CHAMBER & CREDC PROVIDES FINANCING FOR JEM GROUP TO STAY IN CITY OF HARRISBURG
HARRISBURG, PA (October 6, 2008) - The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced today that it partnered with Graystone Bank to provide financing to 509 Partners, LLC. This company, owned by Jessica Meyers and David La Torre, purchased a three-story building at 509 N. Front Street in Harrisburg, Dauphin County, which is home to JEM Group, LLC.
"CREDC did an excellent job of finding a loan program that fit my needs," stated Jessica Meyers. "The Small Business First loan provided me with a very competitive interest rate which made the decision to buy my office building an easy one."
JEM Group is a certified Woman Business Enterprise owned by Jessica Meyers. JEM focuses on projects in Central Pennsylvania and provides general construction, design build and construction management services to commercial office, retail, light industrial, education and health care markets. Purchasing the building at 509 N Front Street will provide a permanent base of operation for JEM who currently supports 17 full time employees and projects additional new-hires in the years to come.
This new building will help a fast-growing company to expand even further, providing a conveniently located base of operations, more jobs, and a solid long-term outlook," Commissioner George Hartwick, III said. "Providing a loan to a successful woman-owned company in such a nontraditional field is also especially gratifying to see in today's turbulent economic climate."
HRC/CREDC provided a Small Business First (SBF) loan of $195,000 in conjunction with Graystone Bank financing and equity contributions. Total project costs were over $400,000. The project will help retain and/or create 23 full time jobs within three years. The SBF loan program is designed to stimulate the expansion and assist in the retention of small business for the purpose of creating new jobs and retaining existing jobs in Pennsylvania. This important program is administered by the Commonwealth's Department of Community and Economic Development and is funded with the ongoing support of the Administration and the General Assembly.
The Capital Region Economic Development Corporation (CREDC), is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties. The group offers a variety of programs and resources to help attract, retain and expand business in the region.
The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. HRC/CREDC has been accredited with four stars from the United States Chamber of Commerce.
