Did you know BerksIDA offers bridge financing? As a recent example, BerksIDA proudly partnered with the Greater Berks Development Fund to support Reitnouer’s ongoing development of its state of the art, ~468k SF building taking shape at Pottsville Pike and Lake Shore Drive in Ontelaunee Township.
Reitnouer is the largest manufacturer of aluminum flatbed trailers in North America, all made right here in Berks County. The firm is currently growth-constrained by its 130k SF headquarters in Cumru Township and another 125k SF in space it leases in Muhlenberg Township. The project will consolidate and grow Reitnouer’s operations into the build-to-suit property. The modernized facility will allow the firm to meet its future demand while streamlining operations. Even so, Reitnouer expects to grow by up to 200 additional jobs from its current workforce of ~400. BerksIDA financing will help Reitnouer transition operations to the new building without tying up necessary capital or collateral. For projects like this one that show meaningful value for Berks County, the IDA is willing to be part of the capital stack necessary to get it across the finish line.
If you or a business you know is interested in expanding or locating within Berks County, BerksIDA can be a resource for your capital needs. Interest-only loans up to $1M for terms up to three years are available for projects that have a measurable impact on Berks County.