Tina Mengine, CEO of Erie County Redevelopment Authority (ECRDA), announced the ECRDA’s 2021 third quarter Lending Report, which included the following key figures: Tina Mengine, CEO of Erie County Redevelopment Authority (ECRDA), announced the ECRDA’s 2021 third quarter Lending Report, which included the following key figures:
• $2,656,168 in new loans
• 14 Erie County businesses assisted
• 25 new jobs created, and 167 jobs retained
• Total Lending through 9.30.21: $8,131,619
“From retail to manufacturing, start-ups to acquisitions, this quarter we saw the continued demand for resources from area businesses, entrepreneurs and innovators from across the spectrum,” said Mengine. Loans ranged from $16,500 for Triple D’s Restaurant, a minority owned business in the Liberty Plaza, to $850,000 to assist with the acquisition and expansion of Printing Concepts. The acquisition of Printing Concepts by local businessman, Charles Herron, allowed a long-respected entity to remain in Erie and retain 27 skilled workers.
ECRDA also assisted in Christina Vogel’s purchase and opening of a 3rd Donato’s Pizza location in Harborcreek Township. According to Vogel, “Being able to grow in this environment of tremendous uncertainty has been so critical to the long-term wellbeing of my staff. With this third location, I currently have ten managers making over $18 an hour plus benefits - including a retirement plan. I will have 15-18 new employees once the new store opens. Some will be starting their very first job and we will get to help them grow and instill a sense of responsibility - it’s one of the most rewarding aspects of owning a business to me. None of this would be possible without the redevelopment authority. The opportunities that the redevelopment authority is providing to the community at large is pretty staggering and really undervalued in my opinion.”
Chris Groner, Vice President of Capital Finance and Lending at ECRDA, commented, “It’s been an extremely busy year. It’s exciting to assist so many different types of businesses, across all sectors from across the county. It’s a tremendous sign of the county’s economic health and resiliency.”
For more information about the Erie County Redevelopment Authority, the Office of Capital Finance & Lending, and other initiatives, please visit ECRDA.net and sign up for our newsletter for all the latest news and opportunities.