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Attracting Quality Employers to Northeastern Pennsylvania!

Financial Resources & Incentives

The Penn’s Northeast region, along with the Commonwealth of Pennsylvania, wants to make it easy for businesses to establish operation in our area. That’s why local and state governments have created dozens of programs to help businesses not only find funding but also succeed after their doors open.  Our region offers a wide range of tax credits, grants and loan opportunities that can assist almost every type of business. To find a program to help your business visit the Pennsylvania Department of Economic Development's website.

 

Some of our most popular programs include tax exempt locations, credits for creating jobs in our area, low interest loans and abatements to make building improvements.

 

State

Keystone Opportunity Zones (KOZ)and Keystone Opportunity Expansion Zones (KOEZ)

Businesses located in these designated zones receive abatement from certain state and local taxes including  local real estate taxes and gross receipts taxes, as well as Pennsylvania's capital stock and franchise tax and corporate net income tax.

 
Job Creation Tax Credits (JCTC)

This state program offers employers a $1,000 tax credit per full-time job, per year.

 
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.

 
Small Business First (SBF)

Funding for small businesses, including low-interest loan financing for land and building acquisition and construction; machinery and equipment purchases and working capital.

 
Ben Franklin Technology Partners 

Provides funding, business and technical expertise and access to a network of innovative, expert resources to both early-stage and established companies.

 
Pennsylvania Economic Development Financing Authority (PEDFA) Tax Exempt Bond Program

Tax-exempt and taxable bonds, both in pooled transactions and stand-alone transactions, to be used to finance land, building, equipment, working capital and refinancings.

Regional

Ben Franklin Technology Partners 

Provides funding, business and technical expertise and access to a network of innovative, expert resources to both early-stage and established companies. 

 
NEPA Loans

NEPA Loans are loans created for for-profit businesses  in  Northeastern Pennsylvania with an emphasis on manufacturing and industrial business. These loans help businesses that will create more jobs in our area.

 
SBA 504 Loans 

Business owners can receive long term, fixed-rate financing at reasonable interests rates with SBA Loans. Equity is typically limited to 10%.

 
Small Business Loan Programs- MetroAction

MetroAction specializes in working with people who cannot borrow from a bank due to lack of business experience, credit history or insufficient collateral.

County

Land Development and Construction Fee Waiver Program

A job-creation incentive program targeted toward businesses looking to expand or relocate operations in Lackawanna County. The County will reimburse a portion or all municipal fees and construction permit expenses for businesses creating ten permanent, full-time jobs in Lackawanna County.

 
Ben Franklin Technology Partners 

Provides funding, business and technical expertise and access to a network of innovative, expert resources to both early-stage and established companies.

 
Luzerne County Business Development Loan Program

Provides low interest loans for land and/or building acquisition, construction/renovation activties, purchase equipment and professional/financial fees to businesses.


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