On this date
J. E. Morgan Knitting Mills, Hometown, has been approved to receive a $700,000 loan through the state Pennsylvania Industrial Development Authority (PIDA). The 10-year loan carries a 4.5 percent interest rate. The firm plans an expansion of 40,000 square feet to an existing building. A total of 54 new jobs are expected to evolve from the expansion. Presently Morgans employs 678 people. The overall cost of the expansion project is $1.4 million. The firm is a manufacturer of a full line of thermal underwear.