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North Central approves loans |
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Thursday, 29 May 2008 |
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 Photo by Heather Tressler (L-R) Mary Lou Jessup, Carole Harshbarger, Eric Bridges, Paul Corbin
By Heather Tressler
The North Central Pennsylvania Regional Planning and Development Commission began their monthly meeting by approving A95s. The A95s included the applicant of Clearfield-Jefferson Regional Airport Authority for airport improvement to acquire snow removal equipment.
The committee then adopted resolution 08-05-845 that administered a planning grant.
Pat Brennan, loan director reported this month’s loans. The first loan disbursed was to ASMAC Inc. in St. Marys, which is a business that employs 26 people. This business acquired a loan for the expansion of the amount of manufacturing space in their existing building.
The next loan approved was Lezzer Commercial Door Inc., in Curwensville, Clearfield County. Lezzer Commercial Door Inc. is a business that manufactures doors, door frames and panels. Lezzer Commercial Door Inc. is a branch from Lezzer Lumber and will retain jobs as well.
The company was applying for money to upgrade equipment of a new door machine and router.
Allegheny Store Fixtures Inc. in Bradford was next on the agenda for approval. They are a wood manufacturing businesses that employs 48 people. Allegheny Store Fixtures was previously approved to upgrade their equipment by purchasing a new CNC Routing System.
Alco Well Services, Inc. was approved for a loan to upgrade its equipment to improve the efficiency of its business of servicing wells to better serve customers. The business will retain five employees and hopes to create an additional five jobs.
TMP Manufacturing, Inc. located in Hyde, was approved for an upgrade. This business had declared bankruptcy several years ago, but all debt is paid and the business is in good standing. TMP manufactured coolers for restaurants and supermarkets. 65 jobs will be retained.
A newly formed business, God’s Country Creamery Inc. located in Potter County will produce cheese from the existing dairy operation. They hope to create two new jobs.
A tourism related business that provides overnight accommodations, meals and a gift shop, Old Charm Bed and Breakfast was approved for a loan. Six rooms will be retained and two jobs will be created.
The board then approved the replacement of Courtney K. Cole from the primary loan committee officer at S&T Bank due to deployment to Iraq because he is involved in the Reserves. It was recommended by Brennan that the board approve Robert M. Baronick Jr. as the alternate as well as Daniel M. Baronick to replace Cole and Baronick to remain alternate.
Tom Hanzely presented the audit report before the board. The report reflected that there are no problems, but since there is a lot of federal funding coming in and out of North Central, the government wants to see where the money goes, noted Hanzely.
Paul Corbin suggested that since the entire board was present to organize the committees again. Corbin suggested that these committees, such as finance and human resources, will assist with the process. Executive Director Eric Bridges agreed.
Bridges commented how important the management team is to the organization. The management team is collaboration of Transportation, Workforce Investment Board, Enterprise Development etc.
The next meeting will be on June 18 at the Royal Inn at the regular time. The June meeting will also include the awards luncheon.
The staff also hired Elizabeth Johnson as Summer Staff for the Enterprise Development Department concentrating on special projects for the Loan Department.
Upcoming events are the annual July meeting at the Red Fern. There will be more information available at next month’s meeting. |
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Last Updated ( Friday, 30 May 2008 )
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