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Current Press Releases:
Pike County Development Authority Announces Relocation of Empire Office's Accounting Division to Milford
Exclusive Listing Agreement for Pike County Business Park
$3 Million Financing for the Benefit of Camp Speers-Eljabar YMCA
World's Most Advanced Cancer Treatment Comes to Milford
Aerial Photos Highlight Best of NEPA
Penn's Northeast Marketing Receives NEDA Award
Penn's Northeast Teams With Commonwealth
California Firm Purchases Pike County Company
Third Annual Penn's Northeast Fall Festival
Pike County Building Sells
Executive Director Announced
Mountain Laurel Center New Lease
PPL Presents Grant for Upgraded Website
Mountain Laurel Center's Upcoming Events
Northampton Community College Reception
New Financing Program For Small Businesses
Mountain Laurel Center Opens Under New Management
Heritage Tourism Development Grants
Leadership Pike Program Now Debuting April 8th 2005
Pike County Economic Development Authority partners with Milford business community to publicize Milford as a Heritage Travel destination
Subject: Initiative to increase Heritage Travel to Milford
Milford, March 24, 2009: The Pike County Economic Development Authority is pleased to announce a partnership with the Milford business community to publicize Milford as a Heritage Travel destination. Last year, PCEDA purchased a membership in the Main Street Network, a membership program of the National Trust for Historic Preservation, which facilitates communication regarding the cumulative experiences of other organizations working to strengthen downtowns and neighborhood commercial districts, with the objective of obtaining and disseminating information within Pike County on revitalization efforts and best practices of downtowns across the nation, some of which may be replicable here.
Through that membership, PCEDA was offered this opportunity to participate in the Heritage Travel destination program which is offered through the National Trust for Historic Preservation. The membership afforded a 50% discount on the cost of participating in the program. The Milford Business Council, with the generous participation of the Historic Preservation Trust of Pike County, partnered with PCEDA to fully fund the initiative for the next two years. Participating businesses include the Bloomgarten Building, Broad Street Alley, Century 21 Roy B. Hull, Davis R. Chant Realtors, Forest Hall Antiques, Fretta's, the Hotel Fauchre, Jorgenson's, the Muir House, the Old Lumberyard, the Upper Mill Complex, as well as the Harrington House, Hare Hollow, Hornetti's, Irene's Kitchen, J-Angelo, Jill Deal Inc., the Milford Journal, Patina, Upriver and American Living.
The Pike County Economic Development Authority is pleased to be able to bring this opportunity to the community and to partner with the Milford Business Council. The Milford Business Council is associated with the Pike County Chamber of Commerce.
The rapid communication of these businesses in regards to this initiative was brought about through the Milford downtown discussion group email, referred to as a listserve. If your business is not currently receiving messages through the listserve but wants to, email info@milfordpa.us.
The next step in this initiative involves developing the material to include in the online information that Heritage Travel will promote. Ultimately, the initiative will increase travel to the area by tourists seeking trip experiences to destinations that authentically represent the stories and people of the past and present, including historic, cultural and natural resources. More information on the Heritage Travel program can be obtained in the internet at www.heritagetravelinc.com.
The Pike County Economic Development Authority ("PCEDA), the lead economic development organization in Pike County, is a municipal corporation. The members of its Board of Directors are appointed by the County Commissioners and its activities are funded by grants, service fees and state and county taxes. The Authority was formerly known as the Pike County Industrial and Commercial Development Authority. The PCEDA office is co-located with the Pike County Chamber of Commerce at 209 East Harford Street in Milford.
Pike County Economic Development Authority plans training programs for those who want to build skills to compete in the new economy
Subject: Turn potential into performance: Dale Carnegie Training
Milford, March 10, 2009: Corporations such as American Express, Cargill, John Deere and Motorola rely on Dale Carnegie Training to develop leaders to deal with issues such as engagement, succession and retention.
In a current biography, The Snowball, Warren Buffett and the Business of Life, Buffett says of his graduation certificate from Dale Carnegie Training "That's the most important degree that I have." By developing skills in self-confidence, leadership, communication, stress management, and good personal relations, the program equips management and supervisory personnel to surmount the obstacles to teamwork and the accomplishment of the organization's goals. If these are issues with which you, or your company, are dealing, the world- renowned Dale Carnegie Effective Communications and Human Relations program can help.
The Pike County Economic Development Authority is co-sponsoring an upcoming Dale Carnegie program in our area. Seats are limited, so prompt enrollment is your surest means of being part of this life-changing experience. For more information and to reserve seats, please call (570) 296-7332.
Pike County Economic Development Authority is planning additional programs this spring through its partnerships with the Pike County Chamber of Commerce, University of Scranton Small Business Development Center and the Workforce & Economic Development Network of Pennsylvania (WedNet). In April, the SBDC will be offering a program on running home based businesses and WedNet will be introducing area businesses to its training grant program. In May, seminars are planned for those interested in tips to grow their business in this economy and on finding financing. PCEDA is also interested in hearing from the community regarding what programs they would like the organization to offer in the future. Please call 296-7332, email admin@pidco.com, or stop by the office at 209 East Harford Street to share your thoughts or get more information on upcoming programs.
The Pike County Economic Development Authority ("PCEDA"), the lead economic development organization in Pike County, is a municipal corporation. The members of its Board of Directors are appointed by the County Commissioners and its activities are funded by grants, service fees and state and county taxes. The Authority was formerly known as the Pike County Industrial and Commercial Development Authority. The PCEDA office is co-located with the Pike County Chamber of Commerce at 209 East Harford Street in Milford.
Pike County's celebration of National Entrepreneurship Week
Milford, March 6, 2009: The Pike County Economic Development Authority spearheaded the 1st annual celebration of National Entrepreneurship Week in Pike County from February 21st through the 28th. The Pike County Board of Commissioners issued a proclamation declaring the celebration of Entrepreneurship Week throughout Pike County and the PCEDA unveiled new reference materials dedicated for the use of entrepreneurs including a computer station set up with links to resources for those interested in furthering their entrepreneurial pursuits. To end the week's celebration, the PCEDA partnered with the Small Business Development Center of the University of Scranton to host a program on 1st Steps to Start a Business on Saturday, February 28th and the SBDC waived the $10 fee for participation in the program. The program was a big success with seven individuals learning about the things they need to do to get their business up and running on solid footing. The next seminar is slated for March 20th. Call the PCEDA office to reserve a space.
The Pike County Economic Development Authority offers services to support entrepreneurs throughout the county all year round. The Pike County Economic Development Authority is an outreach location for the Small Business Development Center at the University of Scranton and partners with them to provide free small business counseling for the support of entrepreneurism in the area. The SBDC works with clients in Pike County who are pre-venture or already operational businesses and can provide assistance in a myriad of topics, not limited to but including, writing a business marketing and financial plan, accessing new markets, addressing human resource challenges, succession planning, conducting a breakeven analysis, or filing the appropriate paperwork to open a business legitimately. Initial information on accessing the SBDC's services is also available by contacting the PCEDA office.
National Entrepreneurship Week is the brainchild of the Consortium for Entrepreneurship Education in Ohio, a national membership organization supporting entrepreneurship education. Nationally, this is the 3rd year of the annual celebration of entrepreneurship. Next year, the PCEDA plans to expand on the activities for National Entrepreneurship Week to involve local schools, students, and the area Chambers of Commerce.
The Pike County Economic Development Authority ("PCEDA"), the lead economic development organization in Pike County, is a municipal corporation. The members of its Board of Directors are appointed by the County Commissioners and its activities are funded by grants, service fees and state and county taxes. The PCEDA office is co-located with the Pike County Chamber of Commerce at 209 East Harford Street in Milford and can be reached at 570-296-7332.
PIKE COUNTY EDA READY TO SUPPORT BORROWING VIA THE STIMULUS ACT
Milford, PA - March 3, 2009. On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009. The Act directs spending and tax savings to various sectors of the economy. Included are significant revisions to the Internal Revenue Code, for 2009 and 2010, which increase tax-exempt financing opportunities for qualified borrowers and qualifying projects.
Some of the revisions:
Bank Qualified Bonds
These are typically "tax-exempt notes" executed by a qualified small borrower and purchased by a bank. Because a bank can deduct up to 80% of its borrowing cost to purchase these notes, the bank's tax savings can be passed through in the form of a lower interest rate to the borrower. The prior law permitted the issuer (e.g.: the EDA) to issue qualified tax-exempt obligations up to a total of $10 million annually. The Act increases this limit to $30 million per issuer and further permits a 501(c)(3) organization to be treated as the issuer when calculating the "per issuer" limitation. Some additional benefits are provided the banks from an accounting perspective.
Manufacturing Facilities
The Internal Revenue Code has been modified to expand the definition of "manufacturing facility" to include facilities used in the production of "intangible" property. The intention is to provide more cost-effective financing for producers of computer software and intellectual property associated the biotech and pharmaceuticals industries. Because the definition is relatively loosely defined, there's opportunity for many new companies to explore the prospect of tax exempt financing.
Minor Portion
The Internal Revenue Code previously allowed only 25% of a tax exempt borrowing to be used in "directly related and ancillary" property (e.g.: a warehouse) associated with a manufacturing facility. The new law removes the restriction and permits unlimited financing for property or facilities that are "functionally related and subordinate" to the manufacturing facility, if located on the same site.
The Pike County Economic Development Authority is the local conduit that provides access to lower cost, tax-exempt financing for qualifying projects located within the County. Chairman Dave Farrington said: "The current level of low interest rates offers borrowers an opportunity to make capital investments on very attractive terms. Tax-exempt interest rates are even lower. The Act makes it possible for some companies and organizations to stretch their debt capacity even further."
Companies and non-profit organizations that can take advantage of the relaxed borrowing restrictions provided by the Act should contact Rachel Hendricks, Deputy Director for Economic Development at the Pike County Economic Development Authority, 209 East Harford Street, Milford, PA 18337 (570 296 7332).
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