PHILADELPHIA, September 26, 2006 – A Northeast Philadelphia commercial printing company will receive a $588,000 state loan for economic development, according to state Sen. Michael J. Stack.

Oak Lane Printing & Letter Services, Inc., which operates in Northeast Philadelphia and New Jersey, will use funding for relocation costs to help consolidate the company to the Northeast location. The company is located at 9999 Global Road, Philadelphia, PA 19115.

Thanks to this loan, which was administered by the Pennsylvania Industrial Development Authority, Oak Lane Printing & Letter Services will be able to preserve 17 jobs and create 39 jobs, Stack said.

“I am pleased that this loan will help maintain and spur our local economy,” Stack said today. “With state support, we will keep jobs and businesses in the city.”

PIDA provides low-interest loans to businesses for site acquisition, construction, or renovation. It targets manufacturers, industrial developers, research and development firms, agri-businesses, and employers setting up national or regional headquarters.

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