A low-interest loan facilitated through Adams Economic Alliance and Pennsylvania Industrial Development Authority (PIDA) helped secure the purchase of a Civil War-era, 10-acre Adams County farm that’s being developed into a meat goat farm plus a family bakery business.
A $103,600, 10-year low-interest (two percent) loan processed through the Alliance’s Adams County Economic Development Corporation (ACEDC) and PIDA assisted Stacy and Joshua Martin in the purchase of the farm along Goldenville Road, Straban Township.
The Martins will establish a herd of Boer goats, beginning with 30, with plans to grow the herd to 50. Boer goats are the most popular breed raised for meat in the United States; the Martins will periodically sell a portion of their herd at auction.
The 1863 farmhouse will allow Stacy Martin to revive a bakery business her mother operated for 20 years, producing pies, cakes and other baked goods to be sold at farmers’ markets and local diners.
“We are thrilled to support the Martins’ innovative new businesses, which further diversify Adams County’s agricultural landscape,” says Robin Fitzpatrick, Alliance President.
“The Martin farm is one of a handful of goat farms, both meat and milk-producing, located in Adams County. Agriculture is one of the county’s top three industries and it is especially exciting to further develop innovative niche agricultural and agribusiness markets,” Fitzpatrick says.
Financing was organized by Alliance Vice President Kaycee Kemper through PIDA and Andrea Foore of ACNB Bank.
The timing of the loan coincides with Pennsylvania Small Business Week, April 29-May 5, being celebrated by the Alliance and economic development partners across the state, in partnership with the Pennsylvania Department of Community and Economic Development (DCED).
“The Martins’ small businesses are perfect examples of the rich diversity of enterprising small businesses found across Adams County and the state,” says Kemper. “We know that our state economy is powered by one million small businesses employing 2.5 million people, which equals about half of the state’s private sector workforce. Simply put, small businesses are vital to our local and state economy.”
ACEDC is certified annually by DCED in order to process and administer loan and grant programs for Adams County’s businesses. Kemper encourages Adams County’s aspiring entrepreneurs as well as established businesses to contact her regarding potential loan and grant opportunities.
This project marks the 144th low-interest business loan facilitated by ACEDC—and the 47th within Adams County’s agricultural community—since 1996. Previous agricultural loan projects, located throughout the entire county, supported projects that included cattle, orchards, chickens, crop production, eggs, turkeys, and wineries. Agriculture is considered one of Adams County’s three main pillars of industry, sharing that distinction with tourism and manufacturing/industrial.
Overall, since 1996, ACEDC has secured $28.6 million+ in total public investment via low-interest loans and grants from DCED and $77 million+ in total private investment via local commercial financing.
The Adams Economic Alliance (AEA), is comprised of three organizations: The Adams County Economic Development Corporation (ACEDC), the Adams County Industrial Development Authority (ACIDA) and the Adams County General Authority (ACGA). For more information, see adamsalliance.org, or follow AEA on Twitter (@AdamsAlliance), Facebook (Facebook.com/AdamsAlliance) and LinkedIn (Adams Economic Alliance).
Media Contact: Karen Hendricks / Hendricks Communications / 717-253-3553
