CAN DO understands that, in business development, financial assistance often plays an integral role in the success of a project or growth of a business. Loans, grants and other services with the goal of creating jobs are available to assist businesses with their activities. CAN DO has more than 50 years of experience in identifying the appropriate comprehensive funding resources that leverage federal, state, regional and local funding. Acting as a liaison between businesses and service providers, CAN DO provides tailored solutions to its clients.
CAN DO works closely with the Department of Community and Economic Development (DCED) who’s mission is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. The list below are some potential state incentives available to companies. Please note that the determination of state financial incentives differ by project.
Pennsylvania Industrial Development Authority (PIDA)
Low-interest loan financing through Industrial Development Corporations for land and building acquisition, construction and renovation, resulting in the creation or retention of jobs.
Land and building acquisition; Building construction and renovation; Industrial park development; Multi-tenant spec building construction, acquisition and renovation.
Loans up to $2 million (within Enterprise Zones, Act 47 Industrial Communities, Brownfield Sites and Keystone Opportunity Zones, $2.25 million) – No more than 30-70% of total eligible project costs, based on firm size and unemployment rate.
Manufacturing; Industrial; Research and Development; Agricultural processors; Firms establishing a national or regional headquarters; Computer/clerical operation centers
Up to 15-year term on land and buildings; No less than a second mortgage on financed assets; Disbursement to applicant based upon reimbursable expenses; 1 job must be created or retained for every $35,000 of loan proceeds.
Machinery and Equipment Loan Fund (MELF)
Low-interest loans to acquire and install new or used machinery and equipment or to upgrade existing machinery and equipment.
Machinery and equipment acquisition and upgrading and related engineering and installation costs directly related to the business process.
Loans up to $5,000,000 or 50% of the total eligible project costs, whichever is less
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.
Up to 10 year term, based on the useful life of the machinery being financed; $25,000 cost per job retained or created; Project must be directly related to the business process. The interest rate for the loan will be fixed at the time of approval of the loan and remain fixed for the duration of the repayment term. Interest rates are subject to change based on market conditions.
Pennsylvania First Program (PA First)
PA 1st is a comprehensive funding tool to facilitate increased investment and job creation within the Commonwealth.
Machinery/equipment; Job training; Infrastructure; Land and building improvements; Environmental assessment/remediation; Acquisition of land, buildings, right-of-ways; Working capital; Site preparation, demolition, clearance
- Grants
- Loans
- Loan Guarantees
Businesses, or IDCs (such as CAN DO), municipalities or authorities on behalf of businesses, which will create or preserve a significant number of jobs and will make a significant investment within the Commonwealth using Pennsylvania 1st.
Competitive projects must offer substantial economic impact, either for the Commonwealth as a whole or for the locality or region in which a business will locate or expand; private match required; job creation/preservation required.
Guaranteed Free Training (GFT)
The GFT Training Program provides grants to businesses to provide incumbent workers with basic skills and information technology training. It is administered by the Workforce and Economic Development Network of Pennsylvania (WEDnetPA). GFT can provide assistance to companies in the following areas:
- Basic Skills Training
- Information Technology Training
Employer Qualifications
- Employers must be based in Pennsylvania or have a significant presence in the state.
- Point-of-sale retail businesses, gaming establishments, training vendors, employment agencies, government agencies, government-owned facilities, education and nonprofit entities are ineligible.
- Employers with a high historical turnover rate (greater than 50%) may be declared ineligible.
- Prior grant recipients with a high employee turnover (greater than 40%) may be declared ineligible.
- Participation is limited to two years in a row and three out of the past five years.
- Training must commence within five months of the grant approval letter or by the end of the fiscal year, whichever comes first. If not, the funds will be forfeited.
Employee Qualifications
- Employees must be residents of Pennsylvania and employed in Pennsylvania.
- Employees must earn at least 150% of current federal minimum wage, excluding benefits.
- The jobs must be permanent full-time positions eligible for full-time benefits.
Basic Skills Training Qualifications
- Employees must be frontline employees or first-level supervisors.
- Employers must be manufacturing or technology-based businesses including Biotech and Environmental-Tech companies.
- Employers may apply for funding for any number of eligible employees up to $450 per employee and $75,000 per fiscal year (July 1 to June 30).
- On-the-job, product-specific sales training, and orientation training do not qualify for the program.
- Funds cannot be used for Adult Literacy Service providers to address workplace literacy needs.
Information Technology Training
Information Technology Training provides instruction in a variety of information technology and advanced applied manufacturing subjects. Some of the training elements offered through the program include:
- Advanced Applied Manufacturing Technology
- Computer Programming
- E-Business/Commerce
- Information Security
- Management Information Systems
- Network Administration
- Software Engineering
- Systems Analysis
- Technology Support
- Web Site Design and Development
Training can be received offsite, onsite at your business, or online.
Job Creation Tax Credits (JCTC)
A $1,000-per-job tax credit per new full-time job per year to employers who demonstrate effective development or deployment of leading technologies in business operations.
Tax credits used to offset various business tax liabilities.
$1,000-per-job tax credit to approved businesses that agree to create jobs within three years. Twenty-five percent of the tax credits allocated each year must go to businesses with less than 100 employees.
Approved businesses
Tax credits may not be utilized by a business until the jobs are actually created. Must create at least 25 new jobs or expand the existing workforce by at least 20 percent.
For more information, call us at 570-455-1508 or visit the Department of Community and Economic Development website at www.newpa.com.