|
Opportunity Grant Program (OGP) |
| |
| Purpose |
|
Provides flexible and effective economic
development financing to preserve and expand existing industry and
attract other economic development prospects to the Commonwealth. |
| |
| Eligible Applicants |
- private companies that are involved in agricultural, industrial,
manufacturing, research and development, export service activities,
firms establishing a national or regional headquarters, or any other
enterprise that offers a significant economic impact to the
Commonwealth, as determined solely by the Department, are eligible for
Opportunity Grants
- municipalities, industrial development authorities and
corporations, municipal authorities, redevelopment authorities and
private developers may receive OGP assistance to conduct eligible
activities on behalf of an eligible private company
|
| Eligible Uses of Funds |
- all costs must be necessary for the operation of eligible private
companies at specific sites in Pennsylvania
- job training
- construction or rehabilitation of infrastructure
- acquisition of land, buildings and rights-of-ways
- construction or rehabilitation of buildings
- purchase or upgrade of machinery and equipment
- working capital
- site preparation including demolition and clearance
- environmental assessments
- remediation of hazardous materials
- architectural and engineering fees up to 10% of the OGP award
|
| Limitations |
|
Applicants may not receive OGP assistance
more than two consecutive fiscal years for the same company expansion or
location project |
| |
| Conditions |
|
Eligible private companies must meet all
the following conditions:
-
locate, expand or maintain operations at
a Pennsylvania site
-
contribute at least $4 private investment
for every $1 of OGP assistance
-
within three years, create or preserve a
minimum of 100 full-time jobs at the OGP assisted site, or increase
their Pennsylvania employment by at least 20%, or provide a
substantial number of new employment opportunities within a
high-growth industry
-
projects that will result in creation or
preservation of less than 100 jobs must be located in counties or
communities suffering from severe economic distress
-
employees hired or retained by the
private company must receive a base pay of at least 150% of the
minimum wage in order to be counted towards the employment requirement
|
| Rates and Terms |
|
N/A |
| |
| Fees |
|
N/A |
| |
| Collateral |
|
In order to ensure compliance with the
grant agreement terms, DCED may require the private company to secure
the OGP assistance with a mortgage lien, a letter of credit or other
collateral for a period of five years following the final disbursement
of OGP funds. Should a company no comply, it will be liable for a
penalty of up to the full amount of the assistance plus an additional
penalty of up to 100% of the grant amount awarded. |
| |
| Application Process |
|
Please contact
Pat Winsor for full
details and assistance. |