Lampire labs receives PIDA loan | News, Sports, Jobs

Lampire labs receives PIDA loan | News, Sports, Jobs
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From the reports of the mirror work team

Bedford County has received a low-interest loan through the Pennsylvania Industrial Development Authority that will enable it to expand and hire additional employees.

Governor Tom Wolfe said Lampere Biological Labs will receive the money through the Southern Allegiant Planning and Development Commission.

“The PIDA loan approved today is an investment in a local business that started in Pennsylvania over 44 years ago,” Wolf said in a press release. “This funding will support Lampere Biological Laboratories as they hire new staff, boost their local economy and continue to grow and expand here in the Commonwealth.”

The 15-year loan, valued at $1,075,000 at a 1.5% reset interest rate, will be used to make improvements to the 182-acre Lambert Ranch facility on Clear Ridge Road as well as several smaller improvements to her 125-acre ranch on Front Range Road.

Hometown Bank will also provide a $1,075,000 loan to improve the two farms as well as make additional improvements to the company’s 157-acre farm in Cherry Lane. Lambert will provide $137,748 in equity for the project.

Planned work includes refurbishment/upgrades of the barn, pens, electrical, interior framing and painting, HVAC and improvements to the existing bank barn.

The improvements will increase the company’s operational effectiveness and allow for capacity expansion.

Lampere, a private international biotech life sciences company, produces biological reagents for use in the diagnostic and pharmaceutical industries.

The company committed to creating 12 full-time jobs and maintaining 65 existing jobs within three years.

Lambert received six previous PIDA loans to support the company’s growth in Pennsylvania.

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