Economic Development – Incentive Financial Program

The business assistance programs available from Lycoming County and the Commonwealth of Pennsylvania provide a lending hand when it comes to expansion, relocation, taxation, job training, job creation, research and small business development.

The Local Economic Revitalization Tax Assistance (LERTA) Act, Act 76 of 1977, P.L. 237; 72 P.S. § 4722, is a creative way to implement strategic financial opportunities for communities that desire property owner driven revitalization. Many Pennsylvania municipalities have developed a LERTA program for their communities to encourage this beneficial reinvestment. Municipalities that have LERTA sites grant property owners a tax incentive to improve their properties within an area designated for revitalization.

The Neighborhood Assistance Program, Enterprise Zone Tax Credit (NAP/EZP) is an incentive program that provides tax credits to businesses or private companies investing in rehabilitating, expanding, or improving buildings or land located within designated enterprise zones. It’s uses include real property improvements such as rehab, expansion or physical improvements to buildings or land resulting in jobs created or retained. Any private company with an investment located in an enterprise zone.