To assure business growth and development, Clearfield County and the Commonwealth of Pennsylvania have made available a number of innovative, low-cost loans for economic development. Please keep in mind this is only a small sample of the numerous state programs available. However, these are the most popular financial incentives.

PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY (PIDA)
PIDA is a long-term, low interest business loan established to apply to firms that are engaged in manufacturing or industrial enterprises. PIDA loans may be acquired for land and buildings with qualified businesses receiving up to $1 million at 2.75%

MACHINERY AND EQUIPMENT LOAN FUND
This fund targets needs of manufacturing and industrial facilities, agricultural processors, and mining operations making the loan applicable for purchasing machinery and equipment, upgrading, and feasibility assessments.

SMALL BUSINESS FIRST FUND (SBFF)
This program offers low-interest loans to businesses for capital development projects that will result in long-term net new employment opportunities. The program has been expanded to provide assistance to manufacturers and small business enterprises that are entering or increasing their marketbase.

INFRASTRUCTURE DEVELOPMENT FUND
Provides grants and loans to businesses who are investing in specific infrastructure improvements, needed to accompany industrial investment by private companies which include energy facilities, fire and safety facilities, sewer and water systems, transportation and waste disposal facilities. These funds are allocated to local sponsors; eligibility applies to private businesses including agricultural, industrial, manufacturing, research and development enterprises.

PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PEDFA)
PEDFA supplies both tax-exempt and taxable pooled bond issues for loans to industrial and commercial development authorities. These loans apply to economic development projects including manufacturing, industrial, commercial, specialized facilities, pollution control and other exempt purposes. PEDFA fills a financing gap for the above tax-exempt small issues brought about by the Tax Reform Act of 1986 and offers competitive rates for these taxable bond issues.

CLEARFIELD COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (CCIDA) REVOLVING LOAN FUND
Infrastructure Grant & Zero Interest Loan Fund Guidelines - Grant & Loan Application for Infrastructure Development
Provides loans to assist in the expansion/retention of industry. Funds may be used for roads, sewage and water facilities, rehabilitation of old industrial sites, and other projects deemed eligible under the Pennsylvania Department of Community and Economic Development guidelines.

For additional information on the financial incentives listed, and other local and state incentives, visit www.inventpa.com

For federal incentives, CLICK HERE - WWW.NEWPA.COM