ECONOMIC and WORKFORCE DEVELOPMENT AGENCIES
Montgomery County, Pennsylvania, is the keystone of the Commonwealth’s economic strength. To assist in the many areas of economic development, several agencies are working to ensure that the county economy continues to prosper. In addition, there are many acronyms used to describe these agencies. The following information is designed not only to help you understand what the various agencies do, but also to assist you in recognizing one agency from another.
This office is a direct department of Montgomery County government. It is funded by county tax dollars and reports directly to the County Commissioners. The CED office works in six major areas, including: start-up and business planning assistance, demographic and related economic development information, marketing existing financial assistance programs, relocation assistance, and government procurement assistance. Moreover, the underlying theme of the office is to promote the county as a great place to live and work and bring new business. People should not confuse this office with a chamber of commerce in that it requires no membership and the services provided are absolutely free.
This unique organization is considered a key component in the overall scheme of economic development for Montgomery County. While it is officially not a department of county government, it is an organization run by an Executive Director and governed by a Board of Directors who are appointed by the County Commissioners. MCDC is designated to act as the Area Loan Organization for various Commonwealth of Pennsylvania loan programs. In addition, the MCDC has been the conduit for millions of federal dollars for renewal projects in Norristown and the Conshohockens. The MCDC is assisted by staff from the Department of Commerce & Economic Development.
This organization is also a vital part of the overall scheme of economic development for Montgomery County. This authority is not considered a department of county government.
However, just like the MCDC, it is run by an Executive Director and governed by a Board of Directors appointed by the County Commissioners. In terms of financing, this organization is the key to one of the most effective methods available today: the Tax-Exempt Revenue Bond. Through this Authority, manufacturing, industrial and nonprofit organizations can borrow from $400,000 to $10,000,000 at very competitive rates. In addition, given that the MCIDA holds the title to hundreds of properties throughout the county, it continues to play a very important role in today’s economic development real estate market.
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All three of the above-mentioned organizations are located at the same address, the one listed on the back cover of this publication. With all three of these organizations in the same office, and staff members who provide assistance to more than one organization, it makes for a very efficient use of the taxpayers’ dollars.
The Authority’s principal purposes are assisting Montgomery County’s townships and boroughs in stimulating economic revitalization, with resultant improvements in employment, infrastructure, services and tax ratables, and aiding in the provision of affordable housing. Many of the County’s 62 municipalities have benefited from assistance with a variety of programs.
The Montgomery County Redevelopment Authority often serves as a catalyst in fostering public/private partnerships in economic revitalization and the creation of affordable housing. Its services are carried out by its professional staff, supplemented by its consultants in appropriate specialties.
The Redevelopment Authority’s activities are funded primarily through reimbursements from municipalities and private sector entities for services provided them by the Authority.
This organization is oftentimes confused with the MCIDA mentioned above. The MCIDC is one of many Industrial Development Corporations (IDCs) found in the Commonwealth of Pennsylvania. It is a private, nonprofit economic development organization. IDCs have been designated by the Commonwealth to market and administer the Pennsylvania Industrial Development Authority (PIDA) financing program. PIDA financing, while it has a similar name to financing provided by another entity, should not be confused with Tax-Exempt Revenue Bond financing obtained through the MCIDA. The PIDA program was established in the 1950s for the purpose of providing low-cost capital for industrial projects in the Commonwealth in hopes of creating jobs.
The MCIDC also works extensively with Site Selection assistance in hopes of attracting new businesses to our county, as well as assisting county companies in finding a new or larger facility. The MCIDC was kind enough to let us use their listing of industrial parks and office complexes. For the purpose of this publication, only a portion of that information was used. Please feel free to contact them to obtain the complete guide, which is updated on a regular basis, or to find out more about their many services.
This organization, which is affiliated with and shares office space with the Montgomery County Industrial Development Corporation (MCIDC), works to provide financing to Montgomery County companies. The SDC has its own internal financing programs and is open to consider a variety of economic development projects. The joint offices are located at:
The Offices at Barley Sheaf
420 West Germantown Pike
East Norriton, PA 19403
610-272-5000
