NEWVILLE, Pa. — Agriculture Secretary Russell Redding toured a Cumberland County farm that plans to expand its operations and double its workforce, thanks to a low-interest loan from the Wolf Administration through the Pennsylvania Industrial Development Authority. The loan program demonstrates Governor Tom Wolf’s commitment to ‘Jobs That Pay’ by investing in agriculture as a driver of economic growth to create and retain jobs.
“One of Gov. Wolf’s top three priorities is creating an economy with ‘jobs that pay.’ Regardless of whether it’s in a big city, a suburb, or a rural community like here in Newville, the governor believes in investing in small business entrepreneurs like the Shuster family who see the market opportunities for high quality and locally sourced products,” said Redding. “When the public sector can partner with small businesses and private investors to create jobs, stimulate the economy and build communities, it is a win-win for everyone.”
On May 3, Gov. Wolf announced that PIDA had awarded the Cumberland Area Economic Development Corporation a $227,500, 15-year loan at 4 percent on behalf of Eleven Oaks Farms, LLC, which is owned and operated by James and Crystal Shuster and their sons. The family raises crops, specialty beef and heritage breed hogs. The loan will allow the Shusters to acquire 98.2 acres of additional farm land to expand their operations while doubling their workforce from five full-time employees to 10 or 12 full-time workers.
Eleven Oaks Farms produces Wagyu beef from native Asian cattle. “Wagyu” refers to all Japanese beef cattle, where “Wa” means Japanese and “gyu” means cow. Because of its unique taste and tenderness, this breed is a favorite among chefs and caterers.
In addition to the PIDA loan, Eleven Oaks Farms also received a $250,000 grant from the United States Department of Agriculture to help promote their specialty beef products.
“Although Pennsylvania is well known for its dairy farms, beef production accounts for $204 million in cash receipts, with more than 500,000 beef cattle on nearly 12,000 farms,” Redding said. “Pennsylvania’s beef producers, whether small, family-owned farms, or large-scale operations, provide an in-demand product for their communities, the nation and the world.”
Eleven Oaks Farms is one of seven projects in six counties recently awarded a total of $5,453,750 million in low-interest loans. Collectively, the seven projects will generate nearly $6 million in private investments.
“The governor is committed to assisting all small businesses in Pennsylvania and the PIDA program is the perfect tool to do just that,” said Department of Community and Economic Development Secretary Dennis Davin. “We’re thrilled that Eleven Oaks Farms is growing and creating new jobs for Pennsylvanians through this critical access to capital.”
So far in 2017, PIDA has approved $15.2 million in low-interest loans that have resulted in $25.6 million in private investment and supported 443 created and retained full-time jobs.
For more information on the Pennsylvania Department of Agriculture, visit agriculture.pa.gov.
For more information about the Pennsylvania Industrial Development Authority and other DCED initiatives, visit dced.pa.gov.
— Pennsylvania Department of Agriculture