Connellsville, Pennsylvania

Connellsville Redevelopment Authority

Mid-Mon Valley Regional Enterprise Zone

MMVREZ Program

06 March 2014

Connellsville City Council unanimously voted to be considered a part of a nine-municipality enterprise zone that would help to promote business and improve the city's economic condition.

During a special meeting on Thursday, council passed a resolution for the city to apply to join the Mid-Mon Valley Regional Enterprise Zone, which includes the municipalities of Belle Vernon, Brownsville, California, Charleroi, Donora, Monongahela, Monessen, North Charleroi and Speers.

The MMVREZ program is certified under the Commonwealth of Pennsylvania's Enterprise Zone Program that gives businesses in targeted areas qualifications for low-interest loans, special consideration under state grant programs and tax credits.

Benefits to Business

The Commonwealth of Pennsylvania Enterprise Zone program provides a number of advantages for qualifying businesses located within enterprise zones or those seeking to locate within an Enterprise Zone (EZ).

  • Priority consideration for other DCED grants and loan funds.
  • Eligible to apply for competitive low-interest loans for up to $350,000 (loans are limited to 30% of a project and require one new job for every $35,000 of an EZ loan). Rehabilitation, Expansion, Improvement to a building(s), Improvement to land, Engineering, Architecture, Acquisition
  • The Lowest statewide prevailing interest rates on other DCED business development loan programs.
  • Eligible to apply for up to a 25% tax credit applied to up to $500,000 of the cost of building construction, expansion or improvements.
  • Designation as Socially and Economically Restricted Businesses to confer advantage in bidding on state government contracts for five years after the zone exits the program.

Qualifying businesses are private companies, including agricultural, industrial, manufacturing, or research and development enterprises (real estate developers) within Pennsylvania. Qualifying businesses include any enterprise defined by the Pennsylvania Industrial Development Authority Act or the Pennsylvania Economic Development Financing Law. Employment opportunities need be created for low-income individuals located in a designated Enterprise Zone.

Competitive Grants to Loan

Enterprise Zone organizations are encouraged to apply for Competitive grants on behalf of an eligible business located within the zone. Competitive grant funds are granted to the Enterprise Zone organization, which loans the funds to the eligible business. Eligible businesses include industrial, manufacturing, and technology-oriented businesses that are located within the boundaries of the designated Enterprise Zone. The businesses must be expanding into or located within the Enterprise Zone area. Corporate/regional headquarters for any type of firm may be funded with Enterprise Zone Competitive grant-to-loan funds.

Competitive grants are awarded to Enterprise Zones to establish a financially viable Revolving Loan Fund (RLF) that will continue to carry out the purposes of the program after the Enterprise Zone has exited the program and operational funding has stopped.

Enterprise Zone Guidelines

Enterprise Zone Tax Credit Guidelines

Competitive Grant Criteria and Funding Amounts

NAP/EZ Tax Credits

For additional information please contact:

The Mon Valley Progress Council

435 Donnor Avenue

Suite 410

Monessen, PA 15062

Phone: (724) 684-3381

Fax: (724) 684-5113

Email: [email protected]