PEDA - Pennsylvania Economic Development Association

IMPACT Across the State

05/02/2016 8:39 AM | Anonymous member (Administrator)
CREDC Financing Supports PPO&S Renovation of 100+ Year Old Building in the City of Harrisburg

HARRISBURG, PA (March 4, 2016) – The Harrisburg Regional Chamber & CREDC (Chamber & CREDC) announced today that the Partnership of Packer, Oesterling & Smith (PPO&S) recently closed on an Enterprise Zone loan to renovate 513 N 2nd Street in the City of Harrisburg, Dauphin County, Pennsylvania.

CREDC provided a $200,000 Enterprise Zone Loan towards the real estate and relocation project. This financing leveraged another $430,000 in equity and bank financing provided by First National Bank.

PPO&S is an integrated marketing communications firm founded in 1980, and until late 2015, resided at 122 State Street. President Virginia Roth evaluated a number of options to provide the growing agency with a more functional space, but was also committed to remain within the City of Harrisburg. Literally around the corner, she found a diamond in the rough that would support the company’s goals, personality and energy. Roth and her team saw that the property had real potential to provide a major upgrade in the agency’s working environment, and smarter space for collaboration, creativity and innovation.

“We’ve been in the new space for over three months now, and I’m thrilled with the feedback from my colleagues and clients alike with the decision to stay in the city and make this our new home,” said Roth. “It will support our continued growth in serving clients across the Commonwealth and in more than14 states. Our partnership with CREDC’s leadership and staff was an invaluable ingredient to the successful transition to the new property, and I’m most grateful.”

The Capital Region Economic Development Corporation is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties. The group offers a variety of programs and resources to help attract, retain and expand business in the region. CREDC is a certified lender in Cumberland, Dauphin, and Perry counties.

The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. The Chamber & CREDC has been accredited with five stars from the United States Chamber of Commerce.

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