Dec. 8—WEST WYOMING — Ashley Machine and Tool Co., a manufacturer of aerospace products, was approved for a low-interest loan to support growth and create and retain jobs, Gov. Tom Wolf announced Wednesday.
The company, through the Northeastern Pennsylvania Alliance, was approved for a 15-year $527,100 loan at a 3% reset interest rate to acquire and renovate a 43,084-square-foot facility at 1450-1460 Shoemaker Ave., West Wyoming.
The total project cost is $1,419,000 and the company has committed to create seven new full-time jobs and retain 43 employees within three years.
It was one of three new low-interest loans through the Pennsylvania Industrial Development Authority totaling more than $1 million that Wolf announced Wednesday to support business growth and create and retain 79 jobs in three counties.
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