EZ
Businesses located within the Enterprise Zone are eligible to apply for low interest loans for projects intended to retain or create jobs in the county. Eligible projects range from land and building purchase to expansion of existing facilities to machine and equipment acquisition or modernization.
The Enterprise Zone includes the Sill Business Incubator, Historic Downtown Huntingdon, Riverview Business Center, the greater Mount Union area, the Route 22 Corridor and parts of Alexandria.
Revolving Loan Fund
- Up to $100,000 (if available) or 50% of project (currently over $50,000 available in RLF with over $1,000,000 of receivables to be paid in from Competitive Loans over next few years)
- Interest rate of Prime to Prime - 2 points
- Administered locally.
Competitive Loans
- Up to $500,000 or 30% of project
- Interest rate of 2% - 4%
- Designed for companies in the EZ with at least a state-wide market
- Money is granted to Huntingdon County from State of Pennsylvania and then loaned from Huntingdon County to the company
- Loan payments enter into Revolving Loan Fund and stay in Huntingdon County.
Competitive Tax Credits
- Eligible to companies participating in EZ Competitive Loan program
- Up to $250,000 in state-level tax credits
- Limited to businesses subject to one or more of the following: Corporate Net Income Tax, Bank and Trust Company Shares Tax, Mutual Thrift Institutions Tax, Gross Premium Tax, Title Insurance Shares Tax, Capital Stock Tax and Foreign Franchise Tax.
Contact
For more information about the Huntingdon County EZ, please contact Susanne House, JCEL Director of Business Outreach..