Business Government

Newtown Twp. Company Gets Loan Approval For Expansion That Will Add Jobs

Wolf speaking on the budget last year in Harrisburg.
Credit: State of PA

The governor recently approved a low-interest Pennsylvania Industrial Development Authority loan for a Newtown businesses.

The Pennsylvania Industrial Development Authority loans are used to support small businesses and established companies that are investing in their growth.

From the Pennsylvania Industrial Development Authority:

Tyger Scientific, Inc. was approved for a $400,000, 12-year term loan at a 2 percent fixed rate through Bucks County Economic Development Corporation to assist in the acquisition and renovation of a 5,000-square-foot facility and the purchase of machinery and equipment on Walker Way in Newtown Township. This project is part of the company’s expansion of their research and development operations from New Jersey. Tyger Scientific concentrates in custom research, development and manufacturing of chemical compounds. The company has committed to retaining eight full-time jobs as a result of this project.

“When we offer fiscally responsible support for small businesses and established companies alike in the private sector, we enrich economic opportunity for all Pennsylvanians,” Gov. Tom Wolf said.

Wolf approved loans for 23 small business projects in 13 counties. State officials said they will help create nearly 400 new jobs within three years.

About the author

Tom Sofield

Tom Sofield

Tom Sofield has covered news in Bucks County for five years for both newspaper and online publications. In 2012, Tom was honored at the Pennsylvania Newspaper Association Foundation's Keystone Press Awards for his coverage of President Obama's visit to Falls Township in 2011. When he's not covering news in the area, Tom enjoys checking out the newest restaurants and bars, exploring forgotten places of industry in the area, going to local parks and spending time with his friends and family. If there's one thing you should know about Tom, he is a local news junkie through and through. Email: Phone: 215-431-1001