INCENTIVES

Lackawanna County and the Commonwealth of Pennsylvania is a competitive market for relocation and expansion. The Scranton Plan and its development partners The Scranton Lackawanna Industrial Building Company (SLIBCO) and the Lackawanna Industrial Fund Enterprises (LIFE) have been nationally recognized for their economic development initiatives. The Scranton Plan’s development team, in conjunction with state and local governmental agencies, will work with your company to secure a variety of incentives including grants, tax credits and low interest loans.

Governor Edward Rendell has unveiled his Economic Stimulus Package, adding 16 new programs to the Commonwealth’s existing menu of incentives. The economic development advisory firm Stadtmauer Bailkin Biggins, LLC has deemed the Economic Stimulus Package as “the most comprehensive and flexible package of financing programs in the country.” For more information on the Economic Stimulus Package, click here.

Companies relocating or expanding within the Greater Scranton/Lackawanna County market may receive the following funding assistance issued by the Commonwealth’s Governor’s Action Team:

Grants

• Opportunity Grant Program (OGP)

Workforce Training

• Customized Job Training (CJT)
• Workforce & Economic Development Network of PA (WEDnetPA)
• Workforce Investment Act of 1998 (Title 1)

Tax Credits & Abatements

• Job Creation Tax Credits (JCTC)
• Keystone Opportunity Zones
• Keystone Opportunity Expansion Zones

Bond Financing

• Pennsylvania Economic Development Financing Authority
  (PEDFA)-Taxable Bond Financing
• Pennsylvania Economic Development Financing Authority
  (PEDFA)-Tax-Exempt Bond Financing

Business Financing Loans

• Pennsylvania Industrial Development Authority (PIDA)
• Machinery & Equipment Loan Fund (MELF)
• Small Business First (SBF)

For a detailed description of the above state business incentive and economic development programs please visit www.newpa.com