(Read more on the industrial market.)
SOUTH HEIDELBERG TWP., PA-Reading Alloys Inc. plans to build a 25,000-sf manufacturing facility here. The project is expected to cost $7.2 million and create 55 new jobs within three years. This facility is in addition to the company's headquarters and existing plant in nearby Robesonia, also in Berks County, where it currently employs 187.
Gov. Ed Rendell's action team, which represents a single point of contact for businesses considering locating or expanding in the state, worked to coordinate a funding package for the project. The Greater Berks Development Fund secured nearly $4.4 million from the Department of Community and Economic Development.
The manufacturer is also eligible to apply for a loan of almost $1.4 million through the state's Machinery and Equipment Loan Fund and up to nearly $2.8 million in tax-exempt bonds through the Pennsylvania Economic Development Financing Authority. The Opportunity Grant Program is providing up to $150,000, and another $110,000 is available in job-creation tax credits.
"This is a company that could have expanded anywhere, but chose Pennsylvania because of our competitive business climate," Rendell says in a statement. Reading Alloys is a subsidiary of Germany-based KB Alloys Inc., a worldwide supplier of alloys and powder coatings for industry. The new plant will specialize in the production of fine metal powder.
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