State Invests in Agri-Tourism
New state investments and loan guarantees approved today by the Commonwealth Financing Authority are providing an influx of capital to help make projects in Pennsylvania's two leading industries a reality, Department of Community and Economic Development Secretary Austin Burke announced today.
In total, the CFA approved $1.6 million in loans and $2.5 million in loan guarantees to benefit 13 different projects throughout Pennsylvania. The state funds will be leveraged to attract more than $19 million in additional private investments.
"These are important investments in the state's two largest industries: agriculture and tourism," said Department of Community and Economic Development Secretary Austin Burke. "They encourage job creation, sustain our rural communities, and bring visitors and their tourism dollars to the state."
The funding was approved through the state's First Industries program, which provides loans, loan guarantees and grants to strengthen the state's agriculture and tourism industries.
Locally, Cathedral Pines in Jefferson County, doing business as Gateway Lodge, received a $100,000 First Industries tourism loan toward the $210,000 renovation of a hotel and restaurant in Cooksburg.
In total, the CFA approved $1.6 million in loans and $2.5 million in loan guarantees to benefit 13 different projects throughout Pennsylvania. The state funds will be leveraged to attract more than $19 million in additional private investments.
"These are important investments in the state's two largest industries: agriculture and tourism," said Department of Community and Economic Development Secretary Austin Burke. "They encourage job creation, sustain our rural communities, and bring visitors and their tourism dollars to the state."
The funding was approved through the state's First Industries program, which provides loans, loan guarantees and grants to strengthen the state's agriculture and tourism industries.
Locally, Cathedral Pines in Jefferson County, doing business as Gateway Lodge, received a $100,000 First Industries tourism loan toward the $210,000 renovation of a hotel and restaurant in Cooksburg.
.jpg)
Comments