The Pennsylvania Economic Development Association (PEDA) is asking the Commonwealth to allocate the remaining federal ARPA and/or State Rainy Day Funds for a continued focus on economic development recovery to offset the economic damage created by COVID-19. Specifically, funding is needed for:
- Recapitalization of economic development programs such as PIDA, Business in Our Sites (BOS) and the Industrial Sites Reuse Program (ISRP), among others, as well as the potential establishment of new programs to be administered by Certified Economic Development Organizations (CEDOs).
- Creation of an economic development training initiative to meet the needs of economic development organizations positioned to administer current and future state financing programs throughout the Commonwealth. As a professional association, PEDA has a proven track record of providing high quality training to its members and partners and is well positioned to serve as the lead organization for providing ongoing professional development and technical assistance training to economic development organizations as they maintain and expand their business "one stop" concierge services.
- Establishment of an independent Revolving Loan Fund (RLF), designed to specifically fill critical gaps not covered by existing programs or funding sources.
Please lend your voices to these efforts by utilizing the information available through PEDA’s Legislative Action Center. Based on your preferences, you may opt to contact your legislators directly via the Center’s “Compose Your Message” tool or, alternatively, to copy and customize the sample letter provided.
Thank you for your efforts.