CREDC Financing Supports Agriculture in Perry County
On: August 3, 2016 Filed Under: Chamber News
HARRISBURG, PA (August 3, 2016) – The Harrisburg Regional Chamber & CREDC (Chamber & CREDC) announced today that it settled a PIDA (Pennsylvania Industrial Development Authority) loan to support Dennis & Lawanda Nolt’s farming operation in Millerstown, Perry County. CREDC provided a $400,000 PIDA loan towards the Nolt’s new egg laying operation. The investment of over $1 million was also supported by a loan from Fulton Bank and equity injection.
Dennis and Lawanda Nolt’s relocation from the Lancaster area to Perry County from the Lancaster area was a lifestyle decision. Although Dennis worked in the private sector for an agricultural related company, the couple was raised in a farming culture and decided they wanted to raise their children in the same way. The Nolts examined land prices and opportunity throughout South Central PA and found competitive land prices in Perry County. They purchased a 43 acre farm in Millerstown in the spring of 2015. The PIDA loan funded the construction of two cage free layer houses and an egg packing machine.
This is CREDC’s first agriculture loan in Perry County. When the PIDA program was modified and requirements for Certified Economic Development Organizations changed effective in July 2015, those changes opened additional loan programs for CREDC to use in support of Perry County business.
“As a long-time supporter of agriculture, I applaud the decision to support the Nolt family business,” said State Rep. Mark Keller (R-Perry/Cumberland), vice-chairman of the House Agriculture and Rural Affairs Committee. “Last year’s changes to PIDA and certified economic development organizations were designed to create a more business-friendly climate in Pennsylvania, and I hope this is the first of many such announcements in subsequent years.”
“One of our goals as an economic development corporation is to help make business owners’ dreams come true and no better industry than agriculture historically speaks to the American Dream,” said David Black, President & CEO of the Chamber & CREDC. “We are pleased to be able to participate in this project with the Nolt family and happy to be able to participate in this project in Perry County and wish them the very best in the years ahead.”
The Capital Region Economic Development Corporation 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. CREDC is a certified lender in Cumberland, Dauphin, and Perry counties.
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. The Chamber & CREDC has been accredited with five stars from the United States Chamber of Commerce.