CREDC, the non-profit economic development arm of the Harrisburg Regional Chamber, has closed $115,000 in financing for Tower Transportation, LLC, a freight hauling business in Dauphin County, through the Enterprise Zone Revolving Loan Fund. The company will use the funds to acquire property in Highspire.
Tower Transportation specializes in shipping freight between Amazon warehouses. The company was founded in 2017 by Daryt Tower, who has worked in the transportation industry since 2004.
“While millions of people count on Amazon packages arriving on their doorsteps daily, it is companies like Tower Transportation that ensure local warehouses are stocked to ship fast and efficiently,” said Melissa Stone, the Chamber & CREDC’s vice president of economic development. “CREDC is pleased to celebrate Tower Transportation’s growth in our region. We wish the company well as it keeps goods moving in Central Pennsylvania and beyond.”
Tower Transportation will use the newly acquired property in Highspire as its headquarters. The company is currently based at a facility in Lower Paxton Township, Dauphin County. The firm uses a portion of that facility for truck repairs and storage. Following the acquisition of the property in Highspire, Tower will continue to use its Lower Paxton property as a mechanic’s bay for truck repairs.
“We received CREDC’s help at the best moment, allowing us to expand our business and create more job openings for the community,” said Tower. “CREDC made our experience easy and convenient.”
Tower Transportation will retain six full-time employees and plans to hire four additional full-time employees 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, which originated with funding from the Commonwealth of Pennsylvania and the Pennsylvania Department of Community and Economic Development, 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 firstname.lastname@example.org or contact Melissa Stone at 717-213-5042.
Total Project Cost: $379,532
Enterprise Zone Loan Amount: $115,000
Bank Partner: Truist Bank
Rate: 2.5% fixed on a 15-year term
Job Creation: 6 full-time job retained, 4 new jobs created over 3 years
Location: 321 Second Street, Highspire, Dauphin County
Closing Date: August 5, 2021