The Penn Township Board of Supervisors created the Penn Industrial Development Authority (IDA) on December 9, 2013 pursuant to Ordinance No. 2013-06. The IDA was organized under the Economic Development Financing Law with the intent to promote economic development in and around Penn Township. Although not a lender, the IDA can act as a conduit for tax-exempt financing for qualified industrial projects or not-for-profit entities' construction projects.
Another benefit that the IDA brings to the community is the ability to play a local role in the Next Generation Farmer Loan Program. The purpose of this program "is to provide an effective means for federal-state-industry linkages, whereby the public sector can assist beginning and first-time farmers to purchase land, farm equipment, farm buildings and breeding livestock." For more information or to find out if the program may be right for you, visit the PA Department of Community & Economic Development's page on this topic.
Solicitor - Sean B. Frederick, Esq., Barley Snyder