HARRISBURG, Pa., June 26 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today announced that Pennsylvania is supporting two of its biggest industries, tourism and agriculture, as well as early stage companies, by investing nearly $5 million in projects located in 10 counties.

"The commonwealth's economy continues to grow due, in part, to the strategic investments we are making in our communities and businesses," said Governor Rendell. "Investments like these keep our economy moving in the right direction. They not only create and retain jobs for the state's hardworking residents; they spur private investment and keep Pennsylvania competitive.

"The latest statewide jobs report shows Pennsylvania's unemployment rate in May was 4.2 percent, which, again, was below the national rate of 4.5 percent. These numbers prove that our economic and workforce investments are attracting businesses and creating jobs across the state."

The Governor said the Commonwealth Financing Authority today approved low- interest loans and loan guarantees through the First Industries Fund and Second Stage Loan Guarantee programs, two vital pieces of his $2.8 billion economic stimulus package.

The Commonwealth Financing Authority is a seven-member board created to administer and fund projects from programs created by the stimulus package. In addition to the First Industries Fund and the Second Stage Loan Guarantee program, the Commonwealth Finance Authority oversees Business in Our Sites, the Tax Increment Financing Guarantee, New PA Venture Capital Investment, New Pennsylvania Venture Guarantee, Building PA and PennWorks.

The following loan guarantee was approved by the Commonwealth Financing Authority at its regular board meeting:

-- The Commonwealth Financing Authority, through the Second Stage Loan Program, will guarantee 50 percent of a $70,000 term loan and $400,000 line of credit from the Union National Community Bank. The funds will be used by 3 T Security LLC of Lancaster County to finance the commercial and residential security company's transition from its current business location to a newly acquired site. The new location will enable 3 T Security to assist its biggest customer, healthcare giant GlaxoSmithKline, in updating and repairing the healthcare company's security system. Since 3 T Security's services are customized, the upgrade would be too expensive to be done by another company. It is anticipated that four full-time jobs will be created by the project.

For details on the First Industries Fund, the Second Stage Loan Guarantee program and other aspects of Governor Rendell's economic stimulus package, visit http://www.newpa.com/ or call 1-866-466-3972.

The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us/.

EDITOR'S NOTE: A list of loans approved by the Department of Community and Economic Development and ratified by the Commonwealth Financing Authority follows. First Industries Fund loans are provided through the Small Business First Program or the Machinery and Equipment Loan Fund.

FIRST INDUSTRIES FUND -- AGRICULTURE LOANS (RATIFIED) Adams County -- $200,000 in Small Business First funding was approved for Richard and Hilda Herr to purchase 102 acres of farmland. The Herrs operate a crop and dairy farm in Littlestown. -- Rice Fruit Company, Gardners, which stores, packs and ships apples, received approval for a $1.4 million Machinery and Equipment Loan Fund loan for the purchase of a new packer. -- A $200,000 Small Business First loan was approved for Nathan and Debra Grove/Flicker Hill Farm, a crop and hog operation, for the purchase of 105 acres of farmland in Littlestown. Allegheny County -- A $200,000 Small Business First loan was approved for Harvest Valley Farms of Gibsonia for the construction of a 30-by-60-foot building to house its farmers market. The company also operates a produce farm. -- $565,000 from the Machinery and Equipment Loan Fund was approved for Chris Candies Inc., a producer of private label chocolate bars and chocolate novelties in Pittsburgh, for the purchase of machinery and equipment necessary to install a shell molding line. Blair County -- A $20,000 Small Business First loan was approved for Clover Creek Cheese Cellar LLC to convert a dairy barn into a cheese processing plant. The Williamsburg company produces farmstead artisan cheese. Cambria County -- Floyd and Marian Farabaugh/Farabaugh Farms received approval for a $63,720 Small Business First loan for renovations and to expand the crop farm's potato storage facility in Ebensburg. Clinton County -- $78,000 in Small Business First funding was approved for Process Control Specialties Inc. to construct a 40-by-60-foot addition to its building in Jersey Shore. The company develops custom process control systems and peripherals for vacuum kilns and conventional kiln controllers for the forest products industry. Cumberland County -- Aaron Cornman, a dairy farmer in Carlisle, received approval for $66,150 in Small Business First funding to purchase livestock and equipment. -- $200,000 in Small Business First funding was approved for crop farmers J. Scott and Richelle Trayer to buy a 105-acre farm in Newburg. Franklin County -- A Small Business First loan totaling $100,000 was approved for PA Independent Poultry Producers Cooperative Agricultural Association for working capital to secure a contract to have 16 member farms grow turkeys. The farms are located in Adams, Franklin, Fulton, Lancaster, Perry, Snyder, Union and York counties. Lancaster County -- Cleason and Dawn Sensenig, operators of a poultry breeder farm in Kirkwood, received approval for a $200,000 Small Business First loan for constructing a 60-by-500-foot high-rise breeder building and new work room. -- A Small Business First loan totaling $200,000 was approved for dairy farm Spring Lawn Farm LLC of Lancaster for the construction of a new freestall barn, silo and milking parlor, as well as the purchase of cattle and robotic milking equipment. -- A $106,000 loan through the Machinery and Equipment Loan Fund was approved for dairy farmer Brent Gehman to purchase cows, a grain bin, hammer mill and conveyors for a farm in Ephrata. Montour County -- $200,000 in Small Business First funding was approved for Zane and Peggy Jo Martin to construct two broiler houses in Danville. FIRST INDUSTRIES FUND -- TOURISM LOANS (RATIFIED) Adams County -- $200,000 in Small Business First funding was approved for Millweave LLC/O'Rorke's Eatery and Spirits to purchase the outstanding ownership from absentee owners/investors. The full-service restaurant is located in Gettysburg. -- Keystone Diner Inc. received approval for a $115,000 Small Business First loan to renovate a building in New Oxford that it plans to purchase. -- A Small Business First loan totaling $180,000 was approved for Tillie Pierce House LLC/Tillie Pierce House Bed and Breakfast to renovate its Gettysburg facility. The company operates a restaurant/bar, conference/reception room, Civil War museum, gift shop and five-room rental facility. Elk County -- Kenneth Finn/Finn's Restaurant, a full-service restaurant facility, received approval for a $100,000 Small Business First loan to acquire the assets of the Lechien's Family Restaurant in Wilcox. Franklin County -- A Small Business First loan totaling $96,000 was approved for Crescent City Cuisine Inc. to purchase commercial real estate to be used as a hotel and restaurant in Mercersburg. -- Mrs. Gibbles Candies and Restaurant Inc., a candy store and full- service restaurant, will use its $200,000 Small Business First loan to renovate its Greencastle location. CONTACT: Teresa Candori 717-783-1116 Neil Weaver (DCED) 717-783-1132

CONTACT: Teresa Candori of Pennsylvania Office of the Governor,
+1-717-783-1116; Neil Weaver of Pennsylvania Department of Community and
Economic Development, +1-717-783-1132

Web site: http://www.governor.state.pa.us/
http://www.newpa.com/