Governor's Proposed Budget Highlighted during Lancaster County "Jobs That Pay" Tour Stop

Lititz, PA – Department of Community and Economic Development Secretary Dennis Davin yesterday continued his “Jobs that Pay” tour at Versatek Enterprises, LLC, the Lititz-based manufacturer of custom product displays, store fixtures, cabinets, parts and assemblies serving the convenience store and entertainment industries, to highlight Governor Wolf’s proposals to reinvigorate Pennsylvania’s manufacturing sector and provide additional support to small businesses.

L to R, PA Department of Community & Economic Development Secretary Dennis Davin, Economic Development Company of Lancaster County President Lisa Riggs, Sen. Ryan Aument, Versatek President Earl Furman and Jacquie Gumpper. Photo courtesy Economic Development Company of Lancaster County.

L to R, PA Department of Community & Economic Development Secretary Dennis Davin, Economic Development Company of Lancaster County President Lisa Riggs, Sen. Ryan Aument, Versatek President Earl Furman and Jacquie Gumpper. Photo courtesy Economic Development Company of Lancaster County.

“Governor Wolf is providing unrivaled support to our manufacturers and small businesses,” Davin said. “His budget provides critical access to capital for businesses, paving the way for more companies like Versatek to continue to thrive.”

Governor Wolf’s 2015-16 budget provides critical access to capital for small businesses by infusing $100 million into the Pennsylvania Industrial Development Authority (PIDA) through revenue from a commonsense severance tax on gas drilling. By infusing $100 million into PIDA, DCED will mitigate the impact of last year’s $180 million transfer out of Small Business First and the Machinery and Equipment Loan Fund, and will make the revamped PIDA program a powerhouse economic development tool, serving the needs of Pennsylvania’s job creators.

“Over the past 17 years, Versatek has grown from a small start-up to a vibrant part of the Lancaster County manufacturing sector,” said Earl Furman, president and CEO of Versatek Enterprises, LLC. “Our growth and success was possible in part to state financing through Small Business First Fund loans and the capable assistance of the Economic Development Company of Lancaster County staff.”

PA Department of Community & Economic Development Secretary Dennis Davin, Versatek President Earl Furman and Sen. Ryan Aument listen to Economic Development Company of Lancaster County President Lisa Riggs. Photo Courtesy Economic Development Company of Lancaster County.

PA Department of Community & Economic Development Secretary Dennis Davin, Versatek President Earl Furman and Sen. Ryan Aument listen to Economic Development Company of Lancaster County President Lisa Riggs. Photo Courtesy Economic Development Company of Lancaster County.

“We are pleased to have Secretary Davin visit Lancaster County and specifically Versatek in Lititz, one of the progressive manufacturing businesses that help to form the foundation for our diverse economy,” said Lisa Riggs, president of the Economic Development Company of Lancaster County. “We have a developed a strong relationship with Versatek over the years on numerous projects as they have grown their business.”

The governor’s budget proposal also includes a $5 million tax credit that will be distributed to manufacturing companies that create good-paying, middle-class jobs. The commonwealth will provide tax credits of up to 5 percent of new taxable payroll to manufacturing companies that increase their annual taxable payroll by at least $1 million over a four-quarter period.

For more information about Governor Wolf’s commitment to supporting job creation, visit www.pa.gov/jobs-that-pay.

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Lynn Rebuck Editor@LititzDaily.com

Lynn Rebuck
Editor@LititzDaily.com

Lynn Rebuck solo-publishes LititzDailyNews.com, the multi-award-winning, independent digital news site. An innovator in digital publishing, Lynn publishes out of her passion for Lititz and for positive news, writing almost all stories, shooting most photos, uploading all content, and managing social media accounts as she overcomes the challenges of physical disability. Email Lynn to discuss how you can financially support this Pennsylvania small business.

LititzDailyNews.com won 4 top digital publishing awards  on the East Coast in only its first six months of publication, including Best Overall Digital Experience, Best Use of Multimedia, Best Use of Social Media, and Best Use of Technology in two divisions of the 2015 America East Digital Media Contest against publishers with multiple imprints, large staffs, and significant budgets.  LititzDailyNews.com is the only paper awarded such distinction in Lancaster County this year.