Indiana County Center for Economic Operations : Revolving Loan Fund To Help New Business

At yesterday's meeting of the Indiana County Commissioners, Angela Campisano, Economic Development Specialist with the Indiana County Office of Planning & Development presented the following resolution: 'The Office of Planning & Development recommends to the Board of Commissioners a request for a $250,000 term loan from the Indiana County Revolving Loan Fund (RLF) 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 Company will be located at 771 Indian Springs Road (previously occupied by Swanson Industries). The loan proceeds will be used to partially fund machinery and equipment. The interest rate will be fixed at 2.85% 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.'

The resolution passed unamiously 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. 'It was a concerted effort on the part of many people and organizations to put this plan together. We're very pleased to welcome the company here and we acknowledge and recognize the efforts of everyone involved in making that happen.'

'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 to help us find a building, to connect us to numerous State of PA contacts for financing and incentives, for equipment financing through the County and even to help us find a local bank to work with. 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.'

Representative Dave Reed (R-62nd Legislative District) said: 'I applaud our state and county officials who see the tremendous opportunity to attract Gordon Sinclair's expansion here to Pennsylvania and more specifically Indiana County. The 50+ jobs that will be injected into our labor force is fantastic and I am fully confident that all of our partners in the Indiana County Center for Economic Operations, will work together in not only helping grow Gordon Sinclair, but to attract other business opportunities to our region.'

Senator Don White (R-41st Senatorial District) commented, 'This is positive economic news for Indiana County that is long overdue. Gordon Sinclair's decision to invest in Pennsylvania instead of another state is most welcome and further demonstrates that Indiana County's labor force, quality of life and infrastructure are some of the best in the nation. I hope this is the first of many good economic news stories for our community in 2017 and beyond.'

Kevin D. Lazor, Administrator at Pennsylvania CareerLink®/Indiana County began immediately to work with Gordon Sinclair to provide workforce candidates to fill the positions anticipated. 'The PA CareerLink®/Indiana County Management & Staff are pleased to be part of the team serving Gordon Sinclair. We are excited about the opportunities having them expand in Indiana County will bring. We also look forward to working with their Human Resource staff to fill their needed positons and help them in their transition into our county. We wish them much success in their transition and future business endeavors.' said Lazor.

The Indiana County Revolving Loan Fund (RLF) provides existing businesses as well as start-ups with funding for real estate (land and buildings), machinery and equipment and working capital, and other eligible costs. When alternative sources of financing seem inadequate to help a business expand or grow, the Indiana County RLF Program is a low-interest option. Indiana County administers the Revolving Loan Fund (RLF) to fill potential funding gaps. One objective of the RLF financing is to advance projects that will create or retain jobs. These jobs should directly result from receiving the loan, and business owners and entrepreneurs will be asked to create and retain jobs within Indiana County. The level of jobs will be based on the level of funding received. The process requires that a business submit much of the same information they would normally provide to a bank when applying for financing. The business can start this process by contacting Angela Campisano to discuss a project. Angela can be reached via telephone at [phone], extension 3873, or through email at [e-mail]. If it is determined that a project meets the objectives of the program, the business will move on to the next step and be asked to submit the application and supporting documentation.

Established in 1994, the Indiana County Center for Economic Operations (CEO) is a countywide public-private partnership serving Indiana County, and is dedicated to the overall growth and prosperity of the county's business community. The affiliate members of the CEO are the Indiana County Board of Commissioners, the Indiana County Chamber of Commerce, the Indiana County Development Corporation (ICDC), the Indiana County Tourist Bureau and Indiana University of Pennsylvania (IUP).