CAN DO Announces Limited-Time Interest Rate Incentive for PIDA Loans
CAN DO, Inc. announced a limited-time interest rate incentive for Pennsylvania Industrial Development Authority (PIDA) loan applications as well as terms and conditions for current and future PIDA interest rate policies.
PIDA announced a new 2 percent interest rate policy regarding loans that apply to real estate, machinery and equipment, working capital, and pollution prevention projects. For PIDA loan applications received on or before December 31, 2017, borrowers will receive a 2 percent interest rate fixed for the full term of the loan.
Under this incentive, PIDA loans can be used under the following terms: Real Estate (15-year term), Equipment (10-year term), and Working Capital (12-month term). Eligible applicants can borrow $35,000 for every job retained and/or $50,000 for every job created within three years of closing of the loan. Applications can be submitted through CAN DO, Inc.
Butler Township holds groundbreaking ceremony for municipal building and police station in CAN DO Corporate Center
Butler Township officials hosted a groundbreaking on Wednesday at the future home of the Butler Township municipal building and police station on Site 11 in the CAN DO Corporate Center in Drums.
The $4 million building project includes a 13,500-square-foot facility that will house Butler Township’s police station, detention area, administration building and zoning office and an additional 4,300-square-foot police storage garage. Township officials expect to move into the new facility in February of 2018.
Butler Township officials finalized the purchase of the five-acre lot on Site 11 in the Corporate Center late last year. Butler Township was looking for a location that would help it better serve the township’s growing population in terms of emergency response time and convenience when conducting municipal business.
PPL Electric Utilities smart grid update
PPL Electric Utilities continues to add smart grid automation on its system to increase reliability.
Smart grid improvements have been a major factor in allowing the utility to reduce the number of outages by 30 percent since 2007. The next five years are expected to bring another 15 percent improvement.
The company reports about 4,600 smart grid switches have been installed across its service area since 2012, when the first smart grid pilot project launched in the Harrisburg area. Now, there are smart grid devices nearly everywhere on the utility’s system which covers all or part of 29 counties in central and eastern Pennsylvania.