Shapiro Administration Invests Nearly $4 Million in Blair County, Fueling Major Business Expansion

The Shapiro Administration is injecting a significant financial boost into Blair County's economy.

A major investment through new PIDA loans is set to help local businesses expand and create new opportunities for residents.

This is a pivotal moment for economic development in our community.

Yerty Auto Service, Inc., a growing local business, is at the center of this new funding initiative.

The company was approved for a $1.85 million loan through the Pennsylvania Industrial Development Authority (PIDA).

This crucial financing will allow the company to pursue a much-needed expansion.

Yerty Auto Service has reportedly outgrown its current facility in Roaring Spring and will use the funds to acquire and renovate a massive industrial site in Altoona.

The new location is a 126,008-square-foot facility located at 301-331 Chestnut Avenue, formerly occupied by Lumax Industries, Inc.

This strategic move is expected to create 10 new full-time jobs over the next three years.

The total project cost is estimated at over $4.5 million, representing a substantial private and public investment in the region.

Local leaders, including the Altoona-Blair County Development Corporation which helped facilitate the loan, are hailing the news as a major win for the area.

Officials from the Department of Community and Economic Development (DCED) stated the Shapiro Administration is committed to supporting businesses that drive long-term growth across Pennsylvania.

It's a clear signal of confidence in the Blair County business community.

The investment aims to not only create jobs but also retain existing positions and revitalize underused industrial properties.

This funding is part of a broader state strategy to make Pennsylvania's economy more competitive and robust.

For Blair County, it means tangible progress and the promise of a stronger economic future.

FAQ on PIDA Loans and Local Growth

What is the PIDA loan program?

The Pennsylvania Industrial Development Authority (PIDA) offers low-interest loans to help eligible businesses create and retain jobs, supporting projects like land acquisition, construction, and equipment purchases.

How does this investment impact Altoona?

This specific investment allows a local company to move into a large, vacant industrial building in Altoona, creating new jobs and stimulating the local economy through renovation and operational spending.

Who benefits from the Shapiro Administration Invests Nearly $4 Million Through New PIDA Loans to Help Businesses Grow in Blair?

The primary beneficiaries are Yerty Auto Service, Inc., the new employees who will be hired, and the broader Blair County community, which benefits from economic growth, job creation, and the revitalization of a key industrial property.