Specialized Vehicles plant receives financing
Dec 1, 2003 12:00 PM
Pennsylvania Gov Edward G Rendell has announced that Specialized Vehicles Corp, based in Washington NC, will receive a financial package for its recently purchased facility in Montgomery PA, formerly owned by Grumman Olson Truck Bodies.
The Governor's Action Team, economic development professionals who report directly to Rendell, worked with Specialized Vehicles to bring the company to Lycoming County. To support the project, the Department of Community and Economic Development has agreed to provide a $3,234,000 financial package that includes $900,000 in job creation tax credits, a $320,000 opportunity grant, $264,000 in customized job training, a $500,000 machinery and equipment loan, and a $1.25 million loan through the Pennsylvania Industrial Development Authority.
The Williamsport/Lycoming Chamber of Commerce also helped to bring Specialized Vehicles to the region.
Industrial Properties Corp, the economic development division of the Williamsport/Lycoming Chamber of Commerce, provided a $250,000 low-interest loan to support the project.
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