DCED.discovered developedetc.aicup

Discovered & Developed in PA (D2PA)• Eligible ApplicantsFunding proposals will be accepted from private and public sector entities whose mission includes economic development and undertake one or more of the following activities:1) Promoting Entrepreneurship - Ongoing or innovative new activities or events to promote entrepreneurship. a) Youth entrepreneurship programs to encourage children to explore opportunities to start a business b) The development and support of small business incubators c) The development and enhancement of information technology tools to educate entrepreneurs about starting a business in PA2) Technology Transfer – Ongoing or innovative new activities, programs or events to encourage and increase technology transfer, commercialization of intellectual property and new product development by PA entrepreneurs, businesses, research institutions, colleges and universities a) Replication of best practices and programs in one region of PA to another. b) Targeted seed assistance programs to support commercialization of new technologies c) Enhancement of services offered at existing tech transfer offices d) Development of a platform which allows innovations to be posted and viewed by prospective users, investors, etc.

Discovered & Developed in PA (D2PA)• Eligible Applicants (cont.)3) Capacity Building for Regional Economic Development – Ongoing or innovative new activities, programs or events to improve the capacity of economic development organizations to provide the highest quality and range of services to the business community.a) Transferring of best practices in innovative programs from one region of Pennsylvania to another b) The development of small business mentoring programs c) The development of micro-lending d) Efforts to support the growth of industries that have a competitive advantage or are otherwise important to region e) Information technology tools to track & measure the effectiveness of efforts to deliver services4) Outreach to Businesses - Ongoing or innovative new activities, programs, or events that proactively seek to identify the needs of businesses or educate businesses about resources available to help them prosper. a) Targeted business calling programs b) Efforts to identify and assist high growth businesses c) Regional events to accommodate the exchange of information between businesses, economic development providers, and others.

Discovered & Developed in PA (D2PA)• Eligible Costs • D2PA Proposals should include: -Reasonable salary and personnel expenses - A detailed narrative for which funding is being -Capital costs including land, building and equipment requested -Meeting and travel expenses - A detailed budget reflecting requested funds -Preparation and publishing costs for materials -An analysis of the need for proposed activity and/or feasibility study -Letters of support - Staff qualifications to effectively manage activities• Ineligible Costs -Costs unrelated to an approved proposal -Fees paid to consultants, lobbyists or other parties for negotiations • Programs Inquiries -Administrative costs -Inquiries and proposals should be directed to the -Costs incurred prior to receiving a formal commitment for D2PA program within DCED or contact by phone at funding from DCED 1-800-379-7448

Liberty Financing Authority• Transfers accounts from existing authorities and funds• Provides flexibility and maximizes resources• Initiates loans through certified providers• Deposits funds with private trustees• Leverages new private funds using combined resources• Creates new financing products to address customers’ needs• Annual financing strategy by authority• Governance structure

Pennsylvania First Provides grants & low-interest loans to assist in creating and/or retaining jobs.• Eligible Applicants • Program Requirements Businesses, Municipalities, Municipal -10 to 1 private investment Authorities, Redevelopment Authorities, Industrial -Create or retain a minimum of 100 full-time jobs within 3 Development Authorities or Corporations and Local years of receiving funding, with a base pay of at least Development Districts 150% of federal minimum wage -Commit to operating at approved site for a minimum of 7 years• Eligible Costs -Job training for direct, full-time, PA residents -Acquisition of Land, buildings or right-of-ways • Other Requirements -Purchase or upgrade of machinery -Applicants may not receive PA First funding for more -Working capital than 2 consecutive fiscal years for the same business or -Project site preparation location project -Environmental assessments -Maximum assistance amount will not exceed $5,000 for -Remediation of hazardous material each job -Interest rate for loans will be set quarterly, according to 10-year Treasury rate• Ineligible Costs -Consultant fees -Refinancing or retirement of existing debt • Applying for PA First -Costs unrelated to expansion or location at project Submit Letter of Intent and Single Application as outlined site in program guidelines -Cots incurred prior to receiving a formal commitment for funding from DCED • Questions Contact CBF at (717) 720-7120

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DCED.discovered developedetc.aicup

by aicup on Oct 31, 2011

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DCED.discovered developedetc.aicup — Presentation Transcript