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State Infrastructure Loan for Reading Airport Industrial/Business Park
On July 1, 2016
HARRISBURG — July 1, 2016 — The Berks County Industrial Development Authority (BCIDA) was approved today by the Commonwealth Financing Authority for a state low-interest Business In Our Sites (BIOS) loan in the amount of $1,119,709 to improve electrical infrastructure at the Reading Airport Industrial/Business Park located in Bern Township, according State Senator Judy Schwank.
Senator Schwank noted that the funds will help the Authority pay for needed work to extend power lines and install related infrastructure to expand electrical power capacity and availability at the airport, which will accommodate existing and future industrial development and growth in the area.
“The Reading Airport holds tremendous potential for development and the BCIDA and the local officials have been working diligently to ensure that the infrastructure is in place to entice new businesses to locate here,” said Senator Schwank.“This investment of state funds will help put us in a better position to attract new ventures to our area and promote job growth.”
Senator Schwank noted that the Business In Our Sites Program provides loans for the acquisition and development of key sites for future use by businesses, private developers, and others. The program is administered through the Commonwealth Financing Authority (“CFA”).