Bensalem, PA – Today, Department of Community and Economic Development (DCED) Acting Secretary Neil Weaver discussed the Wolf Administration’s ongoing commitment to Pennsylvania’s manufacturing industry and saw firsthand the results of the commonwealth’s investments in two Bucks County manufacturers.
“The Wolf Administration has been unwavering in its support of Pennsylvania manufacturers, and it’s wonderful to see the positive impacts our investments have on companies and their communities,” said Weaver. “From disinfectant wipes to cosmetics, a wide variety of products are manufactured here in Bucks County. It’s very encouraging to see these businesses continue to grow and succeed.”
Secretary Weaver toured three businesses that have received more than $1.1 million in total funding from the Wolf Administration:
“We’re excited to once again showcase the incredible impact that the administration’s investments have had on our county’s businesses,” said Jeff Darwak, Executive Director, Redevelopment Authority of the County of Bucks. “We have partnered with DCED on projects for many years and value the commitment that their staff has to ensuring businesses throughout the state are able to utilize incentives to not only remain in Pennsylvania, but to grow here as well. The prosperity of our local businesses is vital to maintaining a healthy economy in our corner of the state, and the impact that they have on our communities is immeasurable.”
NAP/EZP encourages private sector investment in non-profit community projects by providing tax credits to businesses that donate capital to neighborhood and community initiatives. It can be used for projects in categories including affordable housing, community services, crime prevention, education, job training, charitable food, blight, special population issues, veteran’s initiatives, and long-term community revitalization.
The KIZ program provides tax credits for companies that have been in operation for less than eight years, whose gross revenues have increased over the previous year, are located in a Keystone Innovation Zone, and are operating within a targeted industry sector such as information technology or advanced manufacturing/diversified materials.
Established in 1974, the PMBDA administers low-interest loan financing to businesses owned and operated by ethnic minorities, to stimulate job creation and entrepreneurial development. Governor Tom Wolf has prioritized the empowerment of minority-owned small businesses through Executive Order 2015-11, “Diversity, Inclusion and Small Business Opportunities in Commonwealth Procurement and in Pennsylvania’s Economy.”
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MEDIA CONTACT:
Penny Ickes, DCED, dcedpress@pa.gov
