Economic Development Incentives

Pennsylvania and Mifflin County offer an array of economic development programs, all of them available for businesses wanting to start up or move to the area. In an effort to streamline the application process, Pennsylvania has instituted the Single Application for Assistance Program. This allows a business to apply simultaneously for one or more of Pennsylvania's economic and community development financial assistance programs.

A few of the programs available for loans, grants, and tax credits include:

• Team Pennsylvania Network
• Keystone Opportunity Zone Program
• Pennsylvania Industrial Development Authority Loans
• Machinery and Equipment Loan Fund
  Low-interest loans to acquire and install new or used machinery and equipment or to upgrade existing machinery and equipment

  Eligibility: Manufacturing, industrial, agricultural processors, direct mining operations, information technology, biotechnology, and medical facilities. A medical facility may only use MELF funds for the acquisition and installation of equipment and technology necessary to comply with FDA requirements regarding pharmaceutical management.

  Uses: Machinery and equipment acquisition and upgrading and related engineering and installation costs directly related to the business process.

  Amounts: Loans up to $5,000,000 or 50% of the total eligible project costs, whichever is less.

  Terms: Interest rates 3.25%; Up to 10-year term, depending upon the useful life of the machinery being financed; $25,000 cost per job retained or created; Project must be directly related to the manufacturing process.

• Core Industries (expanded Machinery and Equipment Loan Program)
  The Core Industries stimulus program will enhance MELF by adding an additional $75 million in revolving loan funds and by increasing the maximum loan amount from half a million to five million dollars. Information technology companies, biotechnology companies, and licensed hospitals are now also eligible to receive MELF funding. Twenty-five million dollars will be targeted to aid hospitals with the purchase and installation of FDA required pharmaceutical management technology.
• Small Business First Loans
• The Small Business First Export Financing Loan Program
• Pennsylvania Minority Business Development Authority
• Pennsylvania Capital Access Program
• Pennsylvania Economic Development Financing Authority
• Customized Job Training Program (CJT)
  Grants for specialized job training to existing or newly hired employees.
• Opportunity Grant Program
• Infrastructure Development Program
• Industrial Sites Reuse Program
• Rail Freight Assistance
• Enterprize Zone Programs
• Job Creation Tax Credits
  The goal of this program is to create and retain family-sustaining jobs through tax cuts; provision of capital, technology, marketing, and support services to employers; and provision of support and guidance to communities for their development and economic growth.
• Local Economic Revitalization Tax Assistance Act
• Research and Development Tax Credit
• Industrial Resource Centers
• Ben Franklin Partners
  Funding for research and development, technology transfer, joint research and development.
• Ben Franklin Partnerships: Challenge Grant Program
• Business in Our Sites Grants and Loans
  Empowers communities to attract growing and expanding businesses by helping them build an inventory of ready sites.