10/13/2004
Penn's Northeast, a regional economic development marketing organization, has received a $3,500 Blue Ribbon award from PPL. The award is being used to create a comprehensive incentive financing guide. The guide will include one page summaries of virtually every local, state and federal loan, grant and tax program that is available to help companies grow in the Northeastern Pennsylvania.
The guide comes on the heels of the recent unveiling of the Commonwealth's new economic stimulus package, which covers the gamut of innovative economic development policy. Programs range from a unique blend of incentives to support the private sector, to an array of programs aimed at increasing the number of projects within the Commonwealth. Also included in the guide will be loan programs of NEPA Alliance, the regions local development district, and other tax abatement or revolving loan funds available throughout the region.
According to Jim Cummings, President of Penn's Northeast, “A resource like this has never been available to businesses in the Penn's Northeast region. Our partners will find this to be an invaluable tool when searching for programs that can help retain and attract business to the area. The guide will not only be a list of all of the programs that are available, it will also be searchable by type of need, such as job training or real estate financing.”
Cummings also expressed his gratitude to PPL for their support and commitment.
“PPL has been a pioneer in promoting economic development on a regional level. Penn's Northeast has had a long term working relationship with PPL which has resulted in many successes for the region and its people, we are most thankful for their dedication to our efforts.”
PPL's Blue Ribbon Marketing Program provides financial and technical assistance for prospect development and marketing activities to local and regional economic development organizations. Awards can be as much as 75 percent of the cost of each marketing initiative, up to a maximum of $6,000 per project. Award eligible activities include regional marketing campaigns, web site design or enhancements, strategic marketing studies and plans and coordinated prospecting events with PPL´s Team.
To assure that the most effective and innovative projects receive funding, awards are given on a competitive basis.
Penn's Northeast is a regional economic development organization serving Lackawanna, Luzerne, Monroe, Wayne and Pike counties. Its mission is to market Northeastern Pennsylvania as a region on a national and international level, encouraging businesses to relocate from other areas, and assisting in the growth and development of existing businesses.
