The Harrisburg Regional Chamber & CREDC (Chamber & CREDC) announced that Chemical Solutions recently closed on two economic development loans facilitated through CREDC. As part of a nearly $1.5MM project, Chemical Solutions purchased a building in the City of Harrisburg, renovated it and purchased additional equipment to support their growing metals and minerals testing business. CREDC provided a $350,000 Enterprise Zone Loan towards the real estate components of the project and a $273,000 PIDA loan towards machinery and equipment. This financing leveraged another $877,000 in equity and bank financing provided by Centric Bank.
Chemical Solutions’ owners feel that the atmosphere of the City, which includes numerous and appealing lodging, food and entertainment choices, reflects positively on their company to their customers who frequently visit the lab. The company’s new location at 931 N 7th Street, City of Harrisburg, Dauphin County, PA provides the company more than double the space they once had and updates equipment to accommodate the company’s increasing focus on lab testing that will support product research and development for other companies such as consumer goods companies.
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.