Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart C - Loans
Chapter 73 - PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY
Subchapter B - STATEMENT OF POLICY
PROJECT ELIGIBILITY
Section 73.111 - Industrial development projects

Universal Citation: 12 PA Code ยง 73.111

Current through Register Vol. 54, No. 44, November 2, 2024

The following criteria are used as guidelines by PIDA in determining whether a particular business is eligible to receive funding as an industrial enterprise. PIDA may relax or waive the criteria when justified by the circumstances of a particular project.

(1) The act provides that, to be an eligible industrial enterprise, the enterprise must, by virtue of its size, require substantial capital and create substantial employment opportunities. Except as set forth in this section, PIDA will consider these requirements to be satisfied if the project cost is at least $200,000 and the industrial enterprise provides at least 25 full-time jobs (either retained or newly created) within 3 years after the PIDA loan closes.

(2) Each industrial enterprise that will be a tenant of a multiple-tenancy building project will not be required to satisfy the employment requirement and capital requirement that would be required in a single-occupant project, as long as all of the PIDA-eligible enterprises in the building will provide an aggregate of at least 25 full-time jobs and the total project cost of the building is at least $200,000.

(3) An industrial enterprise may be either a for-profit or nonprofit entity.

(4) Warehouses, terminal facilities, office buildings utilized as National or regional headquarters and computer or clerical operations centers may be considered industrial enterprises regardless of the nature of the underlying enterprise. Warehouse and terminal facilities will be considered only if they are designed to serve retail or wholesale operations or other business operations. National and regional headquarters, computer operations centers and clerical operations centers must generally meet heightened criteria. These criteria are more fully defined as follows:

(i) A National headquarters is a building which houses, among other things, the executive offices of a single company or group of companies, such as a conglomerate, and which meets the following criteria:
(A) The total project cost exceeds $1.5 million.

(B) At least 125 full-time jobs, both preexisting and newly created, will exist at the project site within 3 years after the PIDA loan closes.

(C) The company has at least two regional offices which report to this facility.

(ii) A regional headquarters is a building which houses, among other things, the branch executive offices of a National company and which meets the following criteria:
(A) The total project cost exceeds $1.5 million.

(B) At least 125 full-time jobs, both preexisting and newly created, will exist at the project site within 3 years after the PIDA loan closes.

(C) The office serves at least two states.

(D) Two or more offices report to this regional headquarters, which in turn reports directly to the National headquarters.

(iii) A computer operations center is a building which is designed or adapted for, and which houses information technology operations of a company or group of related companies. The computer operations may be either a support service for the company's primary business activities or may be the primary business activity of a company that contracts to provide information technology services to others, and meets the following criteria:
(A) The total project cost exceeds $1.5 million.

(B) At least 125 full-time jobs, both preexisting and newly created, will exist at the project site within 3 years after the PIDA loan closes.

(iv) A clerical operations center is a building which houses the clerical functions of a company and meets the following criteria:
(A) The total project cost exceeds $1.5 million.

(B) At least 125 full-time jobs, both preexisting and newly created, in a number determined by PIDA will exist at the project site within 3 years after the PIDA loan closes.

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