Ritchey’s Dairy Expansion Moo-ving Forward – Funding Approved
On June 5, 2019, Governor Tom Wolf announced new low-interest loan approvals through the Pennsylvania Industrial Development Authority (PIDA) for businesses in eight counties including the Ritchey’s Dairy project in Martinsburg, Blair County, PA.
“Entrepreneurs and businesses of all sizes are driving innovation in Pennsylvania,” Governor Wolf said. “That’s why our administration continues making significant investments to grow our business sector, maintain a healthy business climate, and encourage the creation of family sustaining jobs for Pennsylvanians.”
Ritchey’s Dairy, Inc, was approved for a $762,550, 10-year loan at a 2.5 percent reset rate through the Altoona-Blair County Development (ABCD) Corp. for the expansion of its existing dairy production facility. The 7,663-square-foot expansion will increase dry and cold storage, as well as, allow the expansion of the dairy processing and packaging operation. The project will allow the company to retain 34 full-time jobs within three years.
“We are grateful to the Wolf Administration for continuing to support the PIDA program that is one of the vital financing programs available for businesses to grow,” said Steve McKnight, President and CEO of ABCD Corp. “Just about everyone here in the First Frontier has enjoyed a scoop or two of Ritchey’s ice cream at their parlor or at home and we are excited to see this family-owned company continue to thrive here in Blair County.”