CLEARFIELD – The Clearfield County Industrial Development Authority (CCIDA) announced this year’s competitive grant solicitation to assist with industrial and economic development projects in Clearfield County.
The Infrastructure Grant and Zero-Interest Loan Fund (IGLF) Program has been made possible as a result of the CCIDA’s continued success in growing and turning over commercial loan funds that have assisted dozens of local companies to expand while creating and retaining jobs in the county.
For several years the loan funds have been utilized for industrial expansion projects relating to machinery and equipment purchases, facility expansions and technology-based upgrades for businesses throughout Clearfield County.
“The CCIDA’s competitive grant program is truly unique to north central Pennsylvania and arguably, the entire state of Pennsylvania, explained Rob Swales, chief executive officer.
“Due to continuing success of the CCIDA’s revolving loan fund program, the lending pool and recapture rate have grown proportionately over the years to support a spin-off competitive grant program for economic development projects on an annual basis in Clearfield County.”
The IGLF was created to respond to the community’s need for supplemental sources of local financing to support municipalities, units of local government, educational facilities, non-profit corporations, hospitals and public agencies within the county to leverage economic development projects with other traditional sources of public and private financing.
The deadline for this year’s grant and zero-interest loan pool is May 15. Complete IGLF guidelines and application may be obtained by calling the CCIDA office at 814-768-7838.