The Competition for Economic Incentive Funds


Pennsylvania significantly cut funding for the Department of Community and Economic Development (DCED) in the Commonwealth's 2011/2012 budget. Overall, DCED experienced a 35 percent decrease in funding - which will impact the availability of and result in greater competition for economic incentive funds. Companies seeking to take advantage of economic incentive programs should develop targeted strategies that will set themselves apart from other applicants.

Some DCED programs have been combined into a single economic incentive program labeled "Pennsylvania First." The purpose of the consolidation is to streamline operations and make the programs more efficient. But the funding allocated to Pennsylvania First represents more than a desire to make programs more efficient-it also signals a sharp decline in the availability of economic incentives themselves. For example, the Opportunity Grant Program and the Infrastructure Development Program, two prior programs that will now be administered under the Pennsylvania First, received a combined total of $32.4 million in funding for the 2010/2011 cycle. This year, under the Pennsylvania First Program, the total amount allocated for these economic incentives is $25 million - and that amount will be shared among various other economic incentive initiatives whose funding sources have been eliminated.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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