Shapiro Administration Invests $700,000 in New PIDA Loan to Spur Business Growth, Create Jobs in Allegheny County

The investment will help Mancini's Bakery purchase new equipment to increase production at their location in Allegheny County, creating six new jobs and retaining 50 existing jobs.

Harrisburg, PA - Today, Department of Community and Economic Development (DCED) Secretary Rick Siger announced the approval of a new low-interest loan through the Pennsylvania Industrial Development Authority (PIDA) to support the growth of Mancini's Bakery in Allegheny County. The company has committed to create six new full-time jobs within three years and retain 50 existing jobs.

Mancini's Bakery was approved for a ten-year, $700,000 loan at a 5.25 percent fixed interest rate to purchase new equipment that will increase production at their location at 601 Woodward Avenue in McKees Rocks.

"Mancini's is a family-owned, cornerstone business that has been making bread for the Pittsburgh area for almost a century," said Secretary Rick Siger. "This PIDA loan is providing the bakery with key resources to help increase production and continue to thrive and succeed in Allegheny County. Investing in great homegrown Pennsylvania companies like Mancini's spurs our economy, creates and retains good-paying jobs, and helps position us as an economic powerhouse."

Mancini's Bakery will use the loan towards the purchase of a Rianta Slicer-Bagger. This piece of equipment is used to slice freshly baked loaves and rolls and package them with high efficiency, which will allow the company to package at least five times faster than the current manual process.

The company is also using the loan towards the purchase a Koenig Combination Line. This machine takes large chunks of proofed dough and performs all of the dividing, shaping, and molding processes and delivers the products, by conveyor, to screens which are proofed and loaded into the oven. This will allow the company to make three to five times more product per hour.

In 2024, PIDA has approved $16,524,290 in low interest loans that have resulted in $26,993,509 in private investment and created 169 new full-time jobs and supported another 328 retained jobs.

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.

Governor Josh Shapiro's 2024-25 bipartisan budget delivers on key priorities to make Pennsylvania more competitive economically, and includes:

• $500 million for site development, including $400 million for the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) program;
• $20 million for the Main Street Matters program to support small businesses and commercial corridors that are the backbone of communities across our Commonwealth;
• $20 million in state funding for small minority-owned businesses in Pennsylvania; and
• $15 million for tourism marketing to boost our economy, attract more visitors, and support good-paying jobs - building on the Governor's launch of the Great American Getaway brand to encourage tens of millions within a few hours' drive to visit Pennsylvania.

You can read Pennsylvania's first economic development strategy in 20 years online. Get more information on how the Governor's budget will create economic opportunity for all Pennsylvanians.

For more information about the Pennsylvania Industrial Development Authority or the Department of Community and Economic Development, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

MEDIA CONTACT:
Governor's Office, [email protected], 717.783.1116
Penny Ickes, DCED, [email protected]

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