A local business has received a nearly $1 million state loan to expand its facility and create new jobs.
Homeland Manufacturing Services, located in College Township near the intersection of Benner Pike and East College Avenue, will use a $900,000 loan over 15 years from the Pennsylvania Industrial Development Authority and a $900,000 match loan from Fulton Bank to buy land and build a 12,500-square-foot facility in Benner Commerce Business Park.
The $1.8 million project will retain 20 jobs and add 10 more in the next year, said HMS President and CEO John Bonislawski. But 10 jobs is a conservative estimate, he said, and he thinks the expansion of HMS will surpass that.
Stan LaFuria, executive director of the Moshannon Valley Economic Development Partnership, helped HMS secure the PIDA loan. The MVEDP is the only organization in the Centre Region certified to submit low interest loan applications to PIDA in Harrisburg. Though LaFuria is based in the Moshannon Valley, the PIDA board expanded his coverage Sept. 5 to all of Centre County in an effort to encourage economic development in the region.
Premium content for only $0.99
For the most comprehensive local coverage, subscribe today.
HMS is currently under contract on the Benner Township property and in the process of evaluating the space.
“Our plan is to break ground first thing in the spring,” Bonislawski said. He hopes to have the company fully moved and in the building by next fall.
Benner Commerce Business Park is a designated Keystone Opportunity Zone through 2024, meaning businesses who move there can receive a tax credit of up to $100,000 annually for 10 years.
HMS builds electronic circuit cards and cables for a wide range of customers, including military and defense, medical, industrial sensor, agricultural and alternative energy providers.
“Our revenue has been doubling every year for the past five years,” Bonislawski said. “We now ship all over the United States, Canada, South Korea and Ireland.”
Bonislawski said he has no plans to stop growing. The 12,500-square-foot facility in Benner Township is only the first phase, he said. The lot HMS is purchasing will allow expansion up to 80,000 square feet, and he plans to use all of it.