CREDC, the non-profit economic development arm of the Harrisburg Regional Chamber, has closed $300,000 in financing for Lindgren Craft Brewery in Duncannon, Perry County, through the Enterprise Zone Revolving Loan Fund. The business will use the funds to renovate a 2,854-square-foot building which was formerly a bank location.
Lindgren Craft Brewery began operations in 2018 when the Lindgren family started manufacturing and selling products from their farm. Mary-Jane and Cliff Lindgren purchased the former PNC Bank building in downtown Duncannon in 2020 for use by Lindgren Craft Brewery. The micro-brewery, which provides fresh products made with locally grown and sourced ingredients, plans to transform the space into a brewery, tasting room and restaurant to support the company’s long-term vision. In addition to funding renovations, the Enterprise Zone loan will be used to acquire machinery and equipment to increase the brewery’s production.
“Lindgren Craft Brewery’s dedication to Perry County and to local farmers and businesses runs deep,” said Ann Leiner, CREDC’s loan review committee chair. “CREDC is proud to play a part in funding the continued growth of the brewery’s operations, production and staffing in our region.”
While Lindgren Craft Brewery plans to update the bank building to accommodate new brewing equipment, it also will incorporate a number of existing features from the building into the refurbished space. Renovations will begin this summer and are expected to be completed by mid-fall.
“In our search for financing, a number of people in banking and the financing industry highly recommended we contact CREDC,” said Cliff Lindgren, Chairman of Lindgren Brewery. “Through CREDC, we were able to get the funding we needed, with terms we could live with, in a timely manner to purchase the brewing equipment that allowed us to expand our business. That’s what I call real economic development.”
“We’re really excited about this opportunity to expand and move our brewery into downtown Duncannon,” said Michael Lindgren, CEO of Lindgren Craft Brewery. “A big piece of the puzzle is to upgrade our equipment, install a larger production brewery, and provide a place that people can come and enjoy.”
Lindgren Craft Brewery will retain one full-time employee and create six new full-time positions over the next three years.
CREDC maintains the Enterprise Zone Revolving Loan Fund that resulted from the administration of the former Harrisburg Technology Corridor and Perry County Enterprise Zones. The program provides funding for real estate acquisitions, construction and renovation, and machinery and equipment.
CREDC (Capital Region Economic Development Corporation) is a Certified Economic Development Organization (CEDO) approved by the Pennsylvania Department of Community and Economic Development to provide and service business financing in Cumberland, Dauphin and Perry counties. CREDC accesses public funding to support regional business growth, provides businesses and start-ups with technical assistance, and connects businesses with resources through its many community partnerships in the areas of education and training, workforce development and business planning. For more information, please email email@example.com or contact Jon Cherry at 717-213-5036.
Total Project Cost: $676,150
Enterprise Zone Loan Amount: $300,000
Rate: 2.5% fixed on a 15-year term
Job Creation: 1 full-time job retained, 6 new jobs created over 3 years
Location: 5 North Market Street, Duncannon, Perry County
Closing Date: June 14, 2021
About Harrisburg Regional Chamber & CREDC
Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties through bold leadership, visionary members and powerful results. Building on its 136-year history, the organization provides a unique blend of business, community/economic development and advocacy services under one roof to boost economic vitality and livability across the region. The Chamber & CREDC is 5-star accredited by the United States Chamber of Commerce, a distinction achieved by less than five percent of chambers across the nation.