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.
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:
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.
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.
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.
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.