Governor Tom Wolf announced a new low-interest loan approval through the Pennsylvania Industrial Development Authority (PIDA) program for a business project in Westmoreland County that will help create and retain approximately 45 jobs statewide. The loan funding will assist the business with the costs of expanding their current facility in order to help meet customer demand.
Product Evaluation Systems, Inc., an independent, full-service mechanical, nondestructive, metallurgical, and chemical testing laboratory, was approved for a $1,055,546 loan through Economic Growth Connection of Westmoreland (EGC).
EGC Business Development Officer Kyle Martin reports that the project includes the addition of a 12,500-square-foot pre-engineered steel building. Product Evaluation Systems has outgrown its current 18,000-square-foot building and requires a larger facility to meet the increasing demands of customers. Funding will be used for the site renovations. The project is expected to retain 37 full-time jobs and create six to eight new, full-time jobs within three years.
Product Evaluation Systems President Walt Moorhead added, “This project will help us add new test capabilities for continued growth. Can’t thank the Economic Growth Connection enough for the support along the way.”
EGC President Jim Smith added, “We continue to see strong loan activity within Westmoreland County, and with the low-interest rate being offered through the PIDA program, EGC can offer significant savings to businesses.”