PIDA - Job Retention Program

PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY (PIDA)
JOB RETENTION PROGRAM

Objective and General Information

The purpose of the PIDA Program is to stimulate construction of industrial buildings and/or development projects to increase employment in Pennsylvania. The focus of this program is job retention.

Type of Financing

Uses and guidelines for the Job Creation Program also apply to the Job Retention Program.

Eligibility

PIDA loans are available to manufacturers, wholesale/distributors, or for office projects in which the PIDA-funded office will be the national or regional headquarters for the occupying company. PIDA projects are typically owner-occupied, although developers may apply for investment properties under certain circumstances. Mercantile, commercial and retail projects are ineligible. Qualifying firms will be eligible for up to $25,000.00 per job retained. No jobs can be lost as a result of a PIDA funded retention program.  Qualifying firms will be eligible for up to $25,000.00 per job retained. No jobs can be lost as a result of a PIDA-funded retention program.

A firm must also qualify as a "quality firm" by meeting one of the following criterion: (a) certification by special international quality standards; (b) certification by a qualified Original Equipment Manufacturer quality program; or (c) participation in an Industrial Resource Center or other state-sponsored quality program.

Eligibility for job retention projects will be based solely on the ability of the company to meet the wage threshold for the county. Bucks County's current rate is $33,700.00. Owner wages will be included in determining whether the threshold has been met with the threshold changing from 65% to 60%.

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