A Lawrence County, Pa., company was among the recipients of $1.4 million in Pennsylvania Industrial Development Authority loans granted earlier this week.
Vortex Recycling of New Castle received more than $274,000 to buy nearly three acres of land and build an 11,000-square-foot building. The land is in a Keystone Opportunity Zone, which eliminates state and local taxes for 12 years. The Lawrence County Economic Development Corp. is sponsoring the Vortex project.
A start-up company that recycles used automobile oil filters into scrap metal and burner-grade oil, Vortex expects to create 25 jobs.
PIDA provides low interest loans through local industrial development corporations for land and building acquisition, and construction or renovation that results in the retention or creation of jobs. The authority targets manufacturers, industrial developers, research and development firms and other companies that are establishing national or regional headquarters.Latest from Recycling Today
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