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.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

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.

© Reed Smith | Attorney Advertising

Written by:


Reed Smith on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.