2010 Archives
Small Businesses Grow Despite Economic Downturn With Help From CREDC
HARRISBURG, PA (February 17, 2010) - The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced today that its funding for growing small businesses is on the upswing. 2009 was a record year for CREDC loan programs with 25 businesses receiving approvals for over $9.2 million in low interest subordinate financing. This kind of economic development assistance will help leverage another $16 million of private investment in our region and will retain and create 455 jobs. 3 of these businesses recently completed their projects and closed on their loans with CREDC.
Art Communication Systems, a commercial printing and mailing company located in the City of Harrisburg and now in Lower Paxton Township, Dauphin County, received a $159,000 Small Business First (SBF) loan as well as financing from M&T Bank to help buy new machinery equipment which will support product and service diversification for the growing company. The total project was $348,000 and will help retain and/or create 35 jobs.
Precision Digit-All Solutions received a $97,650 SBF loan as well as financing from Mid Penn bank to buy equipment for their new company. The company is a small run digital print press company that also does mailing and fulfillment. The total project was $217,000 and will create 6 jobs all to be located in Lower Paxton Township, Dauphin County.
RMR Central Services, a mechanical contractor specializing in HVAC and plumbing, received a $64,500 SBF loan which was matched by equal amounts of private equity investment. The company used the loan proceeds to purchase a new building on Locust Lane in Lower Paxton Township and move their growing business which has been operated from their home for the past 5 years.
"These Dauphin County projects are a result of people who believe in our region, appreciate the quality of life Central PA offers and trust in the incredible opportunity of our marketplace," stated Nick DiFranceso, Dauphin County Commissioner. "Dauphin County's investment in CREDC ensures that entrepreneurs will always have the support necessary to turn a business plan into reality. The American economy is still driven by the small businesses that make up Main Street. In working with CREDC and our local lending institutions, Dauphin County is doing our part to ensure a strong economy, rich with opportunity, in order to provide our citizens access to family sustaining jobs."
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.
