Adams Economic Alliance News

New Ag Business Slated for Historic Gettysburg Farm, Thanks to Low-Interest Financing

Advertisements
Brown’s Ranch, recently purchased by John Boyer

This article was originally published in the Gettysburg Times, September 14, 2017:

By Kaycee Kemper

Since our last column, our organization has announced a new name and identity, so first I want to address this exciting news! Adams County Economic Development Corporation (ACEDC) was the lead organization of three partner organizations under the same roof, with the other two being the Adams County Industrial Development Authority and the Adams County General Authority.

Now all three organizations are collectively known as Adams Economic Alliance! We are excited and hope you share our excitement over the simplicity (and lack of confusion!) of our new name. Have no fear, Robin Fitzpatrick and myself are still both here, working as President and Vice President to deliver economic development services to businesses and organizations in Adams County.

One of our newest projects involved the purchase of the 232-acre farm known as “Brown’s Ranch” bordering the Gettysburg National Military Park’s Confederate Avenue. It was our pleasure assisting and welcoming John Boyer of Elizabethtown, Lancaster County, as he purchased the ranch to locate a new agricultural business in Adams County. Boyer, who grew up in the agricultural industry and studied animal science at Texas Tech, was searching for three years, for the perfect Pennsylvania property to launch a cow calf operation, when he discovered Brown’s Ranch.

Financing was a collaboration between local banker Wayne Steinour of ACNB Bank, and our office in partnership with Pennsylvania Industrial Development Association (PIDA). A $400,000, 15-year low-interest (two percent) loan assisted Boyer with the purchase. Boyer says financially, Steinour’s recommendation to apply for a PIDA loan to cover part of the financing, was “beneficial,” since that portion of the loan will remain fixed at two percent for 15 years.

“Agriculture remains one of Adams County’s top three industries, thanks to innovative growers and producers such as John Boyer. Additionally, we are grateful for community partnerships with local lenders such as Wayne Steinour at ACNB Bank who realize the value of enhancing financing by leveraging ACEDC’s relationships and contacts at the state level,” says Robin Fitzpatrick, President of Adams Economic Alliance.

It is indeed our pleasure to partner with local bankers such as Steinour in order to deliver the very best financing products to Adams County businesses. We do not view PIDA loans as “competition” with local banks; instead we view the PIDA portion of the overall loan as Steinour did—a partnership that resulted in the best option for Boyer as a bank customer and potential Adams County business owner. These partnerships create a business-friendly environment and economic prosperity for Adams County.

Could your business benefit from low-interest, fixed-rate financing? The state has made this incredible financing opportunity (two percent, fixed rate) available to businesses, now through December 31! Loan applications submitted through our office to PIDA will receive this low interest rate for the full term of the loan. Real estate loans can be termed out to 15 years; machinery or equipment loans can be termed out to 7 or 10 years. Feel free to call me today to discuss the possibilities! 717-334-0042, x2

Brown’s Ranch, recently purchased by John Boyer

 

Advertisements