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2017-02-24 / Business Briefs

Indiana County revolving loan fund to help new business

Indiana, PA – At a meeting of the Indiana County Commissioners, Angela Campisano, economic development specialist with the Indiana County Office of Planning and Development announced a resolution for the Indiana County Revolving Loan Fund (RLF) to provide a $250,000 term loan to Robert Gordon Industries LTD d/b/a Gordon Sinclair and Affiliate (Gordon Sinclair).

“Gordon Sinclair was formed in 1989 and is a promotional products supplier of custom decorated bags, drinkware, gifts and other assorted products which it decorates in its factory with the logos and advertising messages of its customers.

“The loan proceeds will be used to partially fund machinery and equipment. The interest rate will be fixed at 2.85 percent for a term of 120 months. The RLF funds shall be leveraged by funds from CNB Bank, the Pennsylvania Industrial Development Authority Equipment and owner contribution. The borrower will create fifty full-time jobs as a result of this project over the next three years,” Campisano said.

The resolution passed unanimously with Commissioner Chairman Mike Baker making comment accordingly: “I want to thank the Indiana County Office of Planning & Development and its Executive Director Byron G. Stauffer, Jr. for their leadership and hard work in bringing Gordon-Sinclair to Indiana County. There were a number of other locations within Pennsylvania, as well as in New York and Florida that were under consideration”, Baker said.

“Gordon Sinclair started its search for a new plant location,” said Robert Gluck, founder and CEO, “with several states on our list. Without any reservation, I can say that Indiana County worked harder than anyone else. … Angela Campisano and Byron G. Stauffer, Jr. from the Indiana County Office of Planning & Development along with their partners Tom Seasoltz and Paul Cooney from ABCD Corporation have been our guiding lights throughout this process and we couldn’t be more thrilled to be expanding our operations to Indiana County.”

Kevin D. Lazor, Administrator at Pennsylvania CareerLinkĀ®/Indiana County began immediately to work with Gordon Sinclair to provide workforce candidates to fill the positions anticipated.

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