Fay-Penn says 12 companies interested in Fayette County
The Fay-Penn Economic Development Council has agreed to extend a $250,000 line of credit to the former Hillman Barge to allow its successor corporation to construct a 225-foot barge.
As a condition of the construction project, HBC Barge LLC, located in Luzerne Township, must post the line of credit to secure the $985,000 contract.
The company employs 107 on a 45-acre facility.
Council officials told a gathering at its quarterly meeting Thursday that it also agreed to lend a Mt. Braddock sawmill $250,000 to purchase unspecified new equipment.
The employer, Holt & Bugbee Hardwoods Inc., of Tewksbury, Mass., produces $15 million in bulk and finished wood products at the Fayette County location annually. Holt & Bugbee employs 40 people locally.
Fay-Penn staff members also reported they are in contact with 12 companies that are interested in either expanding local businesses or relocating to Fayette County.
“That’s a heck of a lot more interest than we’ve had in the past, and that’s indicative of what I think we’re going to see going on here in the next couple of years,” said council Chairman Leo Krantz.
In other business, the staff reported that the infrastructure will soon be completed for University Technology Park, located next to the Penn State Fayette Campus.