RIDC PARTNERS WITH PIDA TO EXPAND LOW-INTEREST LOAN PROGRAM IN THE REGION
Regional Industrial Development Corporation of Southwestern Pennsylvania (RIDC) announced today that it is partnering with the Pennsylvania Industrial Development Authority (PIDA) to market an expanded offering of PIDA’s programs of low-interest loans and lines of credit for businesses.
By offering a wider range of PIDA assistance, a larger number of Pennsylvania businesses can commit to creating and retaining full-time jobs within the commonwealth.
RIDC has primarily utilized PIDA real estate loans in the past to finance the development of industrial parks and multi-tenant facilities and has been responsible for financing more than 300 projects totaling more than $295 million through the assistance of PIDA. Prior to the PIDA consolidation which occurred in November 2014, PIDA loans were only available for the purchase or improvement of real estate assets.
By utilizing the full range of PIDA’s current loan offerings, RIDC can now assist a variety of other companies outside of the traditional scope of manufacturing and industrial enterprises, and it can also finance costs associated with the acquisition of machinery and equipment, as well as working capital costs.
Through this initiative, RIDC will begin focusing on offering PIDA loans to companies throughout the region that meet the program’s criteria, whether or not they are located in an RIDC property.
Donald F. Smith, Jr., RIDC’s CEO, said: “RIDC plays a unique role in this region, developing properties that become economic drivers for their communities and supporting the growth of companies that populate those properties and create jobs. Our partnership with these companies and understanding of their needs is what attracts so many fast-growing businesses, in fields ranging from robotics to life sciences to manufacturing, to RIDC sites.
Seegrid Announces 1 Million Miles by Self-Driving Vehicles Without a Single Safety Incident
Seegrid, the leader in connected self-driving vehicles for materials handling, announced that its self-driving vehicles have reached 1 million production miles at customer sites without a single personnel safety incident. Having now traveled the equivalent of 40 times around the earth, Seegrid vision guided vehicles (VGVs) have logged more infrastructure-free miles at customer sites than any other infrastructure-free AGV company.
According to OSHA, in the United States, someone dies every three days in a forklift accident and each year 34,900 serious injuries occur, making worker safety a massive factor in any factory or warehouse setting. As the first and only company to hit this 1 million accident-free mile mark, Seegrid’s intelligent VGVs are leading the industry not just in productivity but also in safety.
Every day, Seegrid self-driving vehicles reliably move material for some of the largest manufacturing and distribution companies in the world, including Amazon, General Motors, Whirlpool and Boeing.
Covestro employees recognized with Women in Manufacturing STEP Ahead Award
In recognition of their leadership and contributions to the manufacturing industry, Covestro LLC employees Julia Rubino, Myriam Gateault and Patti Opacic were selected as recipients of the “Women in Manufacturing STEP Ahead Awards,” presented by The Manufacturing Institute. The STEP Ahead Awards honor women and their achievements at all levels of the manufacturing industry.
The Covestro honorees were among 130 women nationally to receive the honor, which is part of the larger STEP (Science, Technology, Engineering and Production) Ahead initiative. Launched in 2012, the initiative examines and promotes the role of women in the manufacturing industry through recognition, research and leadership for attracting, advancing and retaining strong female talent.
“Covestro is proud to be represented by Myriam, Julia and Patti, who have earned national attention through their exemplary leadership. They’ve not only had a substantial impact on our business, but through their community engagement, volunteerism and mentorship, have positively impacted the lives of many individuals,” said Jerry MacCleary, chairman and CEO of Covestro LLC. “We hope that through this national recognition, their stories will serve to inspire other women to pursue careers in manufacturing and STEM [science, technology, engineering and mathematics].”
“The women being honored demonstrate what modern manufacturing careers are all about: making an impact in their communities with meaningful careers that offer significant opportunities for growth,” said Carolyn Lee, executive director of The Manufacturing Institute.
Covestro LLC is one of the leading producers of high-performance polymers in North America and is part of the global Covestro business, which is among the world’s largest polymer companies with 2017 sales of EUR 14.1 billion. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, electrical and electronics, and medical industries. Other sectors include sports and leisure, cosmetics and the chemical industry itself. Covestro has 30 production sites worldwide and employed approximately 16,200 people at the end of 2017.