CREDC Supports Expanding Business in City of Harrisburg
HARRISBURG, PA (October 8, 2015) – The Harrisburg Regional Chamber & CREDC (Chamber & CREDC) helped Manheim Car King secure a $100,000 CED loan from the PA Department of Community and Economic Development to open their latest vehicle service shop at 535 South Cameron Street, Harrisburg City, Dauphin County, Pennsylvania. That loan closed Monday, October 5, 2015. Manheim Car King opened their first sales location in Manheim, Pennsylvania in 2009. In 2011, they expanded operations to Harrisburg with a new sales location on Paxton Street. Today, owners Ted Kelemen and Jeffrey Carr operate three sales locations and two service locations selling over 100 vehicles per month combined.
The company’s diversification into servicing vehicles continued with the CREDC supported project on Cameron Street in the City of Harrisburg, which involved the purchase of the location, renovation of the facility and machinery and equipment purchases. In addition to $100,000 in CED loan financing, the company and owners invested another $229,000 of their own cash and equity into the project. In total the project created a total economic impact of $329,000 and is expected to retain 7 full time positions and create 2 additional full time jobs.
Manheim Car King’s service locations provide expert and expedient service to not only Manheim Car King’s vehicle purchasers but to all car owners. In addition to repair and maintenance work, the service shops recondition the company’s inventory for sale on their lots and provide auto detailing services to the public. The company now benefits from $100,000 of CED financing at 2% fixed for 15 years.
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.