The Delaware County Commerce Center is known to provide creative solutions to business project gaps. We use an array of resources, and are a certified provider for the Commonwealth of Pennsylvania's Department of Community and Economic Development Programs.
Listed below are some of the programs we use to give businesses located here a competitive edge
It is recommended if your business has a project that you reach out to us first. We can assist in guiding you through what programs are applicable to your business. (610) 566-2225.
http://newpa.com/find-and-apply-for-funding/
DCED offers an array of different funding programs, grants, loans, tax credits and other incentives to help businesses, communities, and municipalities succeed in Pennsylvania. Their programs address many areas including but not limited to: Incentives for new job creation, Credit lines for companies who wish to export products, Low-interest loans for increasing energy efficiency, as well as traditional programs for land, building, and machinery purchases.
http://newpa.com/funding-programs-loans-tax-credits-and-grants/commonwealth-financing-authority
The CFA was established as an independent agency of the commonwealth to administer some of Pennsylvania’s economic stimulus packages. The CFA holds fiduciary responsibility over the funding of programs and investments in Pennsylvania’s economic growth. Programs under the CFA include but are not limited to: funding for infrastructure, mezzanine capital for developers, funding for high-performing or LEED buildings.
The Redevelopment Assistance Capital Program (RACP) is a commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects.
The Delaware County IDA has a tax exempt bond program. This program is limited to manufacturing, 501(c)(3) entities, and other exempt facilities. There is a taxable bond program that is open to all businesses qualified to operate in Pennsylvania. Proceeds can be used for land/building acquisition, construction of a facility, infrastructure, new machinery, working capital, and re-funding. For more information on this program please contact the Delaware County Commerce Center at (610)566-2225.
LERTA is a land based incentive program, that restricts the end-users exposure to real estate taxes. This program can only be used on improvements made to a property, and requires agreement from all three real estate taxing authorities: Municipality, School District, and County. LERTA, through a resolution approved by each taxing body, implements a progressive scale on the property improvements for up to 10 years at 10% of full assessed value after improvements per year.
A TIF freezes the current tax assessment on a property. The additional monies that would be paid in real estate taxes are then used to pay bond financing procured to develop and improve the property. This requires all three real estate taxing bodies to agree in advance: Municipality, School District, and County.