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Regional Chamber > Newsroom > Press Releases > 2008 Releases > The Harrisburg Regional Chamber and CREDC Help Finance Another Farm in Cumberland County

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2008 Releases

The Harrisburg Regional Chamber and CREDC Help Finance Another Farm in Cumberland County

THE HARRISBURG REGIONAL CHAMBER AND CREDC HELP FINANCE ANOTHER FARM IN CUMBERLAND COUNTY

 HARRISBURG, PA (October 23, 2008) - The Harrisburg Regional Chamber and Capital Region Economic Development Corporation (HRC/CREDC) announced today that it provided financing to Duane and Michelle Ruth to purchase 142 acres of farmland in Upper Frankford Township, Newville, Cumberland County to be used for growing hay, soybeans and wheat.  The land contains 120 tillable acres and has been in the Ruth family for 53 years. 

Duane has been farming with his father, Dennis, for the last 15 years.  Duane will take over the operation, as is, with no major changes. Duane is committed to continuing the family crop farm and the loan from CREDC helps preserve agricultural land and keeps the Ruth farm in the family for the next generation.

HRC/CREDC provided a First Industries Agricultural loan of $200,000 in conjunction with financing from USDA's Farm Service Agency, and additional equity contributions. Total project costs were $557,650.  The project is expected to retain 2 full-time jobs. 

"I have worked with CREDC in the past on different deals and they have always been exceptional to work with," stated Emme Rickabaugh, Loan Officer with USDA's Farm Service Agency.  "This deal was no different.  It was a smooth process from the beginning to the end.  I look forward to working with them on future deals."

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.