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DCED Economic Aid Targeted In Part To Marcellus Shale-Related Businesses

Department of Community and Economic Development Secretary C. Alan Walker Wednesday announced the allocation of $29.2 million of funding from the U.S. Department of the Treasury’s State Small Business Credit Initiative to economic, community and technology development partners throughout Pennsylvania.
         “The Corbett administration is committed to supporting our small businesses, and the best way to do that is by partnering with the private sector to maximize resources,” said Walker. “I am proud to say that Pennsylvania is the only state in the nation that requested proposals from our local partners with a goal of maximizing investment and supporting the best projects. This initiative will result in significant small-business job creation across the state.”
            Among the grants awarded were:
-- Central Bradford Progress Authority is a DCED-certified area loan organization covering the counties of Bradford, Susquehanna, Sullivan and Wyoming. The organization will utilize its 18 years of economic development lending experience to provide capital to small business in their region and those specifically tied to Marcellus Shale. CBPA will receive $1 million of SSBCI funding, projected to finance 10 loans and create 150 jobs.
-- SEDA-COG is a DCED-certified economic development corporation serving 11 counties in central Pennsylvania. The organization will use the funding to provide small businesses loans to for-profit companies involved in promoting technology and communications, and businesses involved in Marcellus and Utica Shale activities. SEDA-COG will receive $1 million of SSBCI funding, projected to support 10 loans and create at least 420 new jobs.
            A complete list of grants awarded is available online.
            NewsClips: Shale-Oriented Businesses Target Of New Aid
                                Small Business Aid Tied To Marcellus Shale


12/26/2011

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