Pennsylvania State Capitol. Credit: Cascade Creatives/Shutterstock Bill to Encourage Job Creation Unanimously Passes Pa. House
Rep. Parke Wentling, R-Crawford, announced his bill to spur job creation and encourage capital investment in Pennsylvania, unanimously passed the House on Sept. 21.
September 23, 2022 at 01:30 PM
2 minute read
Capital Reports
Rep. Parke Wentling, R-Crawford, announced his bill to spur job creation and encourage capital investment in Pennsylvania, unanimously passed the House on Sept. 21.
The legislation, House Bill 2783, would modernize the Pennsylvania Industrial Development Authority (PIDA), which provides low-interest loans and lines of credit to businesses looking to expand or invest in the commonwealth. Wentling introduced the bill following a House Majority Policy Committee hearing he hosted last November in Greenville. Testifiers at the legislative hearing agreed that Pennsylvania was struggling to compete for economic opportunities with neighboring Ohio.
"We need to make it abundantly clear that Pennsylvania is open for business," said Wentling. "By modernizing government, we open the door for economic growth opportunities in the commonwealth."
According to Wentling, low-interest loans and lines of credit from PIDA can be used to cover a portion of up-front costs for land and building acquisitions, construction and renovation costs, and machinery and equipment purchases. Currently, applicants must demonstrate a minimum number of new jobs created to be eligible for a low-interest loan or line of credit, a requirement that Wentling said puts Pennsylvania at a disadvantage.
—State House Republican Caucus
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