2010 Archives
Turner Hydraulics Receives Financing For Expansion Project
HARRISBURG, PA (August 24, 2010) - Turner Hydraulics (1605 Industrial Highway, Carlisle) has closed on a financing package from M&T Bank and the state Small Business First program packaged by the Harrisburg Regional Chamber & CREDC that has enabled them to build 17,000 square feet of additional space onto their original facility. This will allow the company to take on larger projects while retaining their current (30) employees.
Dan Turner, sole owner of Turner Hydraulics, Inc. began his work in the hydraulics industry in 1982. His parents, Bill and Jane Turner started Turner Hydraulic Service in 1978 in their backyard garage. Turner Hydraulics was formed not long after Dan joined the family business in 1983 and then in 1993 he became sole owner. Turner Hydraulics is one of the largest, full service hydraulics facilities in Central Pennsylvania. Services offered include rebuilding cylinders, pumps and valves, field service, system installation, and design and build capabilities for many types of fluid power systems, to name a few. Turner Hydraulics has seen increased revenues year over year. The expansion of their current facility will allow them to continue providing quality service with growing demand.
The $200,000 SBF loan in conjunction with M&T Bank and equity contributions financed a total project cost of $590,500. The SBF loan program is designed to stimulate the expansion and assist in the retention of small business for the purpose of creating and retaining jobs in Pennsylvania. The 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.
A referral on the loan came from Cumberland County Economic Development. Omar Shute, CCED Executive Director said, "CCED has consistently worked with CREDC to achieve greater access to the Small Business First program in Cumberland County. CCED will continue to work alongside CREDC to ensure businesses in our county and region continue to benefit from all the economic development programs available so we can continue to attract investment and create as well as retain jobs."
"We were pleased to work with Turner Hydraulics and play a small role in their growth along with M & T Bank. Helping small businesses grow, particularly in these tough economic times, is important to our region's future. We appreciate the referral from Cumberland County Economic Development," added David Black, President & CEO of the Chamber & CREDC.
The Capital Region Economic Development Corporation (CREDC, is the economic development arm of the Harrisburg Regional Chamber, 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. CREDC is a certified lender for Cumberland, Dauphin, and Perry counties. For more information on business lending programs, please contact Eric Fischer at 213-5042
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.
