Cambridge-Lee Industries, which makes copper tube in Ontelaunee Township, will receive a $2 million state loan to complete a 194,500-square-foot expansion in Ontelaunee Township.
The 15-year loan, at 2.25 percent interest, is expected to help create at least 269 new jobs within three years and retain 319 existing employees.
In addition to the Pennsylvania Industrial Development Authority loan, Cambridge-Lee Industries received a funding offer from the state including a $1 million Pennsylvania First grant, $538,000 in job creation tax credits, $121,050 in job training assistance and a $3 million loan from the Machinery and Equipment Loan Fund.
The expansion, announced in March, was coordinated by the Governor's Action Team and the Greater Berks Development Fund.
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