Today, the Bucks County Economic Development Corporation was awarded a $400,000, 10-year loan on behalf of M&S Centerless Grinding, Inc. to purchase three pieces of highly specialized equipment in order for its subsidiary company, Meron Medical, to produce two components for a neurovascular medical device used to mitigate effects of brain aneurisms. The total project cost is expected to be $800,000 and will create five new jobs and retain five existing positions.
The low interest loans are awarded through the Pennsylvania Department of Community and Economic Development’s PA Industrial Development Authority (PIDA). The loans are awarded on a competitive basis, and intended to spur economic growth and create jobs.
In 2016, PIDA has approved $32.4 million in low-interest loans that have resulted in $63.7 million in private investment and supported 1,334 new and retained jobs.
“I am enthusiastic about this program, and I am excited to see a local company receive this loan,” said Senator Greenleaf. “The PIDA loans provide great opportunities for Pennsylvania’s small businesses to grow and expand at a low interest rate. This is a critical initiative on the part of state government to help strengthen our economy and create jobs. Congratulations to M&S Centerless Grinding, Inc, and their subsidiary, Meron Medical for receiving this loan to continue their important work.”
Contact: Aaron Zappia (215) 657-7700