Pennsylvania

Pennsylvania offers a variety of programs to support job creation, workforce development, and economic growth. Programs like the Job Creation Tax Credit and Pennsylvania Industrial Development Authority (PIDA) Loans provide tax credits and low-interest financing, helping businesses expand and contribute to the state’s economy.

Job Creation Tax Credit

• Purpose: Incentivizes businesses to create new jobs in Pennsylvania.
• Eligibility: Businesses creating at least 25 new jobs or increasing employment by 20% within 5 years.
• Benefit: Tax credits of 2% of annual wages paid or $5,000 per new job created, whichever is higher.
• Application: Through the Philadelphia Department of Revenue or online via the Philadelphia Tax Center.
• More info: Requires maintaining business operations in Philadelphia for 5 years.

Workforce Innovation and Opportunity Act (WIOA) Programs

• Purpose: Provides funding for workforce development initiatives.
• Eligibility: Varies by program, including Adult, Dislocated Worker, Youth, Wagner-Peyser, Adult Basic Education, and Vocational Rehabilitation programs.
• Benefit: Funding for training programs and workforce development services.
• Application: Through local workforce development boards.
• More info: Includes optional programs like Career and Technical Education, TANF, and Veterans State Grants.

Pennsylvania Industrial Development Authority (PIDA) Loans

• Purpose: Provides low-interest loans to help businesses create and retain full-time jobs.
• Eligibility: Available to various sectors, including manufacturing, industrial, agricultural, R&D, and hospitality.
• Benefit: Low-interest loans for land and building acquisitions, construction, machinery purchases, and working capital.
• Application: Through Certified Economic Development Organizations (CEDOs).
• More info: Loan terms up to 15 years for real estate and 10 years for machinery and equipment.

Additional programs in Pennsylvania

• Next Generation Farmer Loan: Provides federal tax-exempt mortgage financing for capital purchases by farmers. Available to Pennsylvania residents aged 18 and older, offering reduced interest rates on capital purchases. Applications are managed through the York County Industrial Development Authority (YCIDA).
• Pennsylvania Industrial Development Authority – Small Business (PIDA-SB): Offers low-interest loans to small businesses with 100 or fewer employees in specific industries. Provides loans up to $400,000 or 50% of total eligible project costs, with applications handled by CEDOs.