Pennsylvania Department of Community and Econmic Development

Pennsylvania Department of Community and Economic Development

Tom Corbett, Governor

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Pennsylvania Industrial Development Authority (PIDA)

Requirements

Download the guidelines for a complete understanding of the program and the requirements.

Download GuidelinesDownload Guidelines

Overview

Low-interest loan financing through Industrial Development Corporations for land and building acquisition, construction and renovation, resulting in the creation or retention of jobs.

Uses

Land and building acquisition; Building construction and renovation; Industrial park development; Multi-tenant spec building construction, acquisition and renovation

Funding

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.

Eligibility

Manufacturing; Industrial; Research and Development; Agricultural processors; Firms establishing a national or regional headquarters; Computer/clerical operation centers

Terms

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; $35,000 cost per job created or retained (no cost per job requirement on industrial park or multi-tenant projects.) Interest rates are subject to change based on market conditions. Contact DCED for the current interest rate and participation rate. 

How to Apply

Industrial Development Corporations

Refer to Program Guidelines.

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The page was last modified: 03/18/2014