Economic Development
ECONOMIC DEVELOPMENT
Economic Development Organizations in Monroe County are committed
to responsible economic development and the creation of jobs. In order
to preserve our past and assure prosperity in the future, it is
important that quality of life be maintained. We seek to diversify our
economy by attracting companies that complement our present industry
mix.
The following agencies provide direct assistance to companies in
acquiring financing and will serve as your one-stop shop in your search
for business assistance. They serve for profit enterprises regardless of
their size. In addition, they can assist businesses apply for job
creation tax credits and other programs that can save your business
money.
Please call Chuck Leonard, Executive Director at
570.839.1992 to learn about opportunities in Monroe County or visit
www.pmedc.com
Pocono Mountains Industries Incorporated (PMI)
An IDC (Industrial Development Corporation) under Pennsylvania PIDA
law, PMI has served as the marketing arm for industrial development in
Monroe County since 1944. Pocono Mountains Industries, Inc. is
instrumental in selecting and acquiring sites for industrial
development, and assisting companies relocate and/or expand businesses
here. In addition PMI helps their customers secure low interest business
loans in concert with State and Government programs including:
Pennsylvania Industrial Development Authority (PIDA)
This
program provides low-interest loan financing to businesses for the
purpose of job creation or retention. Manufacturing, industrial,
research and development businesses, in addition to others can apply for
financing for a variety of activities including land/building
acquisitions, and building construction and/or renovation. Call PMI at
570.839.1992 to confirm your company's eligibility.
Monroe County Industrial Development Authority (MCIDA)
Organized in 1970, the MCIDA assists commercial or industrial
businesses to locate and grow within the county by providing access to
low-interest financing mechanisms. The primary program offered through
the Authority.
Pennsylvania Economic Development Financing Authority (PEDFA)
PEDFA
offers tax exempt and taxable pooled bond issues for projects with a
total project cost of at least $400,000. Tax exempt loans are available
to manufacturing and non-profit corporations, energy, solid waste
disposal, and transportation facility projects. The taxable program is
considerably more flexible and is available to for-profit businesses
only.
Pocono Mountains Industrial Park Authority (PMIPA)
The Pocono Mountains Industrial Park Authority manages the Pocono
Mountains Business Park. Eight companies, employing over 900 people, are
currently located within the park. An additional 120 acres are
available for expansion. Work has begun on Phase III of the Pocono
Mountains Business Park and the development of our new Corporate Center
adjacent to the municipal airport. These projects, encompassing more
than 850 new acres of development, will provide additional business
sites by the end of 2000. The Pocono Mountains Industrial Park Authority
is responsible for promoting and marketing the sale of lots within the
park, which is located off Route 940, just three miles from I-80 and
less than two miles from I-380.
