Mid-Mon Valley Regional Enterprise Zone
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
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
- 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,
- 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
- 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
Monessen, PA 15062
Phone: (724) 684-3381
Fax: (724) 684-5113