|The goal of the Luzerne County Business Development Loan Program is to attract new business to the area, as well as strengthen existing businesses, thereby creating new employment opportunities, generating additional tax revenues and stimulating the overall area economy. The Business Development Loan Program addresses these goals by providing low interest loans to eligible businesses. and return it to our office: Mail to: Luzerne County Office of Community Development Business Development Programs:
The goal of the Industrial/Business Park Incentive Program is to create new quality employment opportunities, while promoting the sale of land in County industrial/business parks. The program is designed to offer financial incentives to attract businesses creating quality employment opportunities to eligible Luzerne County industrial/business park sites owned by an Industrial Development Corporation (IDC). To apply for this Program, please fill out the application below:
The goal of the Luzerne County’s Employment Incentive Loan Program is to create improved employment opportunities while strengthening our labor market through job training opportunities. The program is designed to attract new business to the area, as well as strengthen existing businesses, that will lead to the creation of quality employment opportunities that will lead to higher earning opportunities and enable lesser skilled members of the work force to successfully benefit from these employment opportunities through job training.
Under the Program an applicant can finance eligible activities either through the Capital Market or depending on the size utilizing a conventional bank. Since the interest that is paid on the bonds is exempt from federal and state income tax, the interest rate is reduced. The interest rate on the bonds is dependent on the financial strength of the Non-Profit, the marketability of the assets that securing the issue or credit enhancements. The term of the bonds is tied to the life of the asset being financed.
The Private Activity Bond Program is offered by the Luzerne County Council, through a cooperative effort between the Office of Community Development and the Industrial Development Authority.
Luzerne County has established the Innovation Program utilizing Community Development Block Grant (CDBG) funds and program income generated by loan repayments. The purpose of the program is to provide below-market rate loans to new businesses locating in the County, having five or fewer employees, one or more of whom owns the business. Loans will be made to stimulate business growth, provide assistance to low-moderate persons, create low-moderate and other job opportunities and to enhance the County’s tax base.
Joseph Zeller, III
Deputy of Business Development