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Pictured
from left to right are
Dolly Tyndall, VP of
Marketing HMC
Enterprises, Inc.; Chris
Scott, President, HMC
Enterprises, Inc; Dan
Wheeler, Director,
Governor's Action Team;
Senator Mike Stack;
Peter Longstreth,
President, Philadelphia
Industrial Development
Corporation; State
Representative John
Sabatina. |
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Senator
Stack speaks at a press
conference announcing
$1.7 million in state
funding for HMC
Enterprises, Inc. The
funding will allow HMC
Enterprises to expand,
grow, and create jobs in
Northeast Philadelphia.
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PHILADELPHIA, DEC. 20, 2006:
State Sen. Mike Stack (D-Philadelphia) today announced $1.1 million
in state funding to help local manufacturer Howard-McCray expand its
company in Northeast Philadelphia.
Howard-McCray, which
manufactures commercial refrigeration products and specializes in
product display cases, will use the funding to acquire and renovate
a building at 10981 Decatur Road.
The expansion project will
retain 49 employees and create 67 additional jobs.
The company is also eligible for an additional $600,000 in loans,
which include a $440,000 loan through the Machinery and Equipment
Loan Fund (MELF); a $100,000 grant through the Opportunity Grant
Program (OGP); and $67,000 in Job Creation Tax Credits (JCTC).
“Local businesses like Howard-McCray keep our local
economy strong, and I’m pleased that they’re receiving aid to make
their company even better,” Stack said. “This is just one more
example of our state’s commitment to improving economic development
on a local level.”
State Rep. John Sabatina, who also attended the announcement,
agreed. “The funding is a wise investment in Howard-McCray and in
our community. It will create good jobs and help our local economy
grow.” “This project is a
win for everyone involved,” said Daniel Wheeler, director of the
Governor’s Action Team. “State and local officials worked together
to help HMC expand in Philadelphia. This type of partnership can do
great things for the entire region.”
Howard-McCray has been located at 2501 Grant Ave.
since 1961, when it was known as Howard Refrigerator Company. The
manufacturer’s products can be found in corner stores,
small markets and locally at the Reading Terminal in Center City.
“Howard-McCray has a long history in Northeast
Philadelphia, and we’re happy that this funding will allow us to
stay in the community as we expand our business,” said Chris Scott,
the president of Howard/McCray.
The Pennsylvania Industrial Development Authority
provided the loan through the Philadelphia Industrial Development
Corporation (PIDC), Philadelphia’s economic development agency.
“Howard-McCray is a strong Philadelphia based employer and we are
very pleased to assist in their continued success”, said Peter S.
Longstreth, president of PIDC.
PIDA provides low-interest loans
through local industrial development corporations for land and
building acquisition and construction or renovation.
The program targets
manufacturers, industrial developers, research and development
firms, agricultural processors and employers establishing national
or regional headquarters.
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