Since its inception in 1945, SLIBCO’s community and economic development program has been nationally recognized and benchmarked.
Working in conjunction with our sister affiliates, The Scranton Plan and MetroAction, SLIBCO has assisted hundreds of companies access financing and incentives for their relocation and expansion projects.
Through our partnerships with state and local governments, companies within the Greater Scranton region are prospering in our pro-business environment. Our economic development team can serve as your community partner, assisting you in all aspects of your site selection, financing and incentives process.
Allow our team of economic development professionals serve as your single-point-of-contact for assistance in crafting a financial incentive package.
KEYSTONE OPPORTUNITY ZONE (KOZ)
KEYSTONE INNOVATION ZONE (KIZ)
FEDERAL OPPORTUNITY ZONE PROGRAM (FOZ)
LOCAL ECONOMIC REVITALIZATION TAX ASSISTANCE (LERTA)
PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY (PIDA)
PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PEDFA)
MetroAction SMALL BUSINESS LOANS
LACKAWANNA COUNTY REVOLVING LOAN PROGRAM
SBA 504 LOAN PROGRAM
NEPA Alliance Business Finance Center Loan Program
Pennsylvania First Program
Small Business Administration Loan Fee Waiver Program
Community Re-Invest Program
Land Development and Construction Fee Waiver Program
On-the-Job Training (OJT)
On-the-Job Training (OJT) is available to the local business community and provides up to a 50 percent hourly wage reimbursement for new hires. OJT must be utilized for Workforce Innovative and Opportunity Act (WIOA) eligible persons, which includes dislocated workers or low-income adults.
Incumbent Worker Training
Although the majority of training opportunities through the public workforce system are for individuals who are unemployed or underemployed, many states and local areas also support incumbent worker training as a critical facet of their regional economic development strategy. In fact, lifelong learning is increasingly the norm-and continuous skill development is often required to keep a step ahead of the global competition.
WEDnetPA Workforce & Economic Development Network
Pennsylvania’s WEDnetPA Training Program helps businesses stay competitive by offering funding to help employees maintain a diverse skill set. Employers can determine their own workforce training needs and choose from 27 WEDnetPA partners, third party providers or in-house staff to conduct their training initiative. This resource is employer-driven, allowing businesses to remain competitive while keeping their workforce’s skills current and relevant.
Work Opportunity Tax Credits (WOTC)
Work Opportunity Tax Credit is a federal tax credit available to employers who hire and retain veterans and individuals from other target groups with significant barriers to employment. Employers claim about $1 billion in tax credits each year under the WOTC program. There is no limit on the number of individuals an employer can hire to qualify to claim the tax credit, and there are a few simple steps to apply for WOTC.