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Posted by: | Posted on: October 16, 2020

Governor Wolf Announces Small Business Expansions in Blair and Cumberland Counties

first_img April 03, 2019 Economy,  Latest News,  Press Release Harrisburg, PA – Governor Tom Wolf announced two new low-interest loan approvals through the Pennsylvania Industrial Development Authority (PIDA) program for DelGrosso Foods Inc. in Blair County and Commercial Flooring Professionals in Cumberland County. The funding will enable the expansion of both companies and help create and retain more than 115 jobs.“This is great news for workers and families in Pennsylvania,” Governor Wolf said. “These companies have had great success over the years, and this new funding will help launch their products into the next level. We’re always proud to support small businesses because they are the backbone of our economy.”In 2019 so far, PIDA has approved $7,483,000 in low-interest loans that have resulted in $16,149,685 in private investment and supported the creation and retention of 109 full-time jobs. This month, PIDA approved a total $2.2 million in low-interest loans to projects in Blair and Cumberland counties.The following two loans were approved:Blair CountyDelGrosso Foods Inc., a spaghetti and pizza sauce manufacturer, was approved for a $2 million, 15-year loan at a 2.5 percent rate through the Altoona-Blair County Development Corporation for the acquisition and renovation of a 160,220-square-foot manufacturing building in Antis Township. As the company is currently outgrowing the facility, the building will initially serve as warehousing space but will be transformed into a new production facility within two years. The project is expected to create nine full-time jobs and retain 104 over the next three years.Cumberland CountyCommercial Flooring Professionals, Inc. (CFP), was approved for a $200,000, 15-year loan at a 3.5 percent rate through the Cumberland Area Economic Development Corporation for the acquisition and renovation of a 4,882-square-foot building in Lower Allen Township. The new building provides more showroom and warehouse space and will allow the company to expand and meet their growing demand. Renovations include a new showroom, exterior awnings, and a resurfaced parking lot. The project is expected to retain four full-time jobs.PIDA is an independent authority staffed and regulated through the Department of Community and Economic Development. The authority provides capital for building acquisition, construction and renovation work, machinery, and equipment loans along with working capital lines of credit, primarily for manufacturers, industrial developers, research and development firms, agricultural processors, and employers looking to establish national or regional headquarters in Pennsylvania.For more information about the Pennsylvania Industrial Development Authority and other DCED initiatives, visit dced.pa.gov. SHARE Email Facebook Twittercenter_img Governor Wolf Announces Small Business Expansions in Blair and Cumberland Countieslast_img read more

Posted by: | Posted on: September 19, 2020

Persaud steals the show at Caribbean Invasion Drag race meet

first_imgSHAWN Persaud stole the show at the Caribbean Invasion Drag race meet yesterday at the South Dakota Circuit.Persaud and his Toyota Caldina ran untroubled in the unlimited class, registering a fastest time of 8.311 seconds.Other winners on the day included Devindra Persaud, Shivan Raganath and Lawrence Bhowadin. Details in a subsequent articlelast_img

Posted by: | Posted on: August 30, 2020

Mark Frissora – US Betting is in-tune with Caesars comeback

first_img UKGC orders Caesars to pay £13m following ‘serious systemic failings’ April 2, 2020 Share StumbleUpon Speaking to CNBC News, Mark Frissora Group President & CEO of Caesars Entertainment has stated that his firm is reviewing all options with regards to competing within a US state-licensed sports betting framework.Frissora and Caesars’ executive team welcomed ‘with excitement’, last week’s groundbreaking Supreme Court repeal of PASPA’s federal mandate, which will open US licensed sports betting.Caesars leader believes that his firm holds the ‘best position to take advantage of SCOTUS ruling’, having operated casino-integrated sportsbooks within its Nevada properties for a number of years.Furthermore, Frissora details that Caesars ‘enhanced digital focus’, which has seen the casino operator launch a number of mobile platforms, merging land-based customer engagement with digital content/dynamics, as a significant advantage over its US competitors.“We have been doing this for a while, and we are excited by this opportunity. We believe that we can develop the best in-play engagements and software experiences for US customers”.  Frissora details.Moving forward, Frissora has called for all industry stakeholders to eliminate the illegal US sports betting market, which is estimated by the American Gaming Association to have generated a ‘$150 billion handle’.The repeal of PASPA comes at a time when Frissora and his new executive team seek to revamp and diversify Caesars business proposition at a global scale.Having navigated Caesars Entertainment through its complex two-year bankruptcy restructuring, Frissora seeks to rebuild the US legacy operator ‘beyond the Vegas strip’.Acting fast on state-licensed sports betting may well offer Caesars a trump card in its $ multi-billion competition against Las Vegas Sands, MGM and Galaxy Entertainment.“We have a strong balance sheet and position to enable us to pursue and implement this kind of development. We’re working to create the future of gaming and we’re ready to win.” Related Articles Join the PASPA Repeal 2nd anniversary online networking event May 13, 2020 Share AGA urges White House to intervene over Paycheck Protection Program April 9, 2020 Submitlast_img read more