LEWISBERRY, Pa., Oct. 21 /PRNewswire/ -- Unilife Corporation ("Unilife" or "Company") (Nasdaq: UNIS, ASX: UNS) today announced that it has secured U.S. Government financial backing to support the construction of its new global headquarters and manufacturing facility in York, Pennsylvania.
The U.S. Department of Agriculture (USDA) has agreed to guarantee $10 million of an $18 million mortgage Unilife has now obtained from Metro Bank of Harrisburg to support construction of the 165,000 square foot state-of-the-art facility.
Unilife previously qualified for an additional $5.4 million in grants and loans from the Commonwealth of Pennsylvania, the majority of which relates to the development of the York facility. The combined financial commitments by U.S. and Pennsylvania Government agencies represent approximately half of the total $31 million projected cost of the York facility.
Mr. Alan Shortall, Chief Executive Officer of Unilife, stated, "We wish to thank government leaders for their continued collaboration with Unilife. This round of government financial support improves our balance sheet and offers us access to capital under very favorable terms. The support and interest we have received at the federal and state level has been overwhelmingly positive.
"I believe this strong government backing reflects our status as a fast-growing Pennsylvania company that is committed to local high-skilled job creation, and the production of best-in-class syringes which can provide a safer environment for healthcare workers and enhanced care for patients."
Mr. Tom Williams, State Director of the USDA, stated, "The USDA is working to ensure that rural communities have the tools they need to expand economic opportunity and improve their quality of life. The USDA congratulates Unilife on its strong life science investment into central Pennsylvania, bringing with it high-skill jobs in a high-tech, fast growing market sector."
|SOURCE Unilife Corporation|
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