We assist with access to capital: No matter the project, access to affordable capital is necessary to make it happen. PMEDC works to connect businesses and projects with affordable and accessible capital resources from a wide variety of sources. There are primarily two types:
Grants – dollars that are invested without the need for repayment
or
Loans – dollars that require repayment
Business Grants
Local Share Account - Monroe County
Local Share Account Monroe County Grant Program
The Monroe County Industrial Development Authority (MCIDA) is an eligible applicant for the Local Share Account (LSA)-Monroe County funds made available by the PA Race Horse Development and Gaming Act for the purpose of distributing the 2% of gross terminal revenues from Mount Airy Casino Resort. The Monroe County Commissioners have designated the MCIDA to be the point of contact for this program on their behalf. MCIDA has established guidelines to provide information and guidance to project managers interested in applying for funding.
Please read and play close attention to the MCIDA Policy:
MCIDA Policy for Submitting LSA Applications-2025
The LSA Program Guidelines can be viewed by clicking here: Program Guidelines – LSA Monroe County – 2025
NOTE: *New for 2025* – MCIDA’s Application Fee increased to $800. If a COMPLETE application is received by August 31, 2025, the Application Fee will be $700.
Applications will be evaluated by the Commonwealth Financing Authority based on: economic impact, economic conditions of the area, level of private sector investment being leveraged, project’s focus on the reuse of brownfields or underutilized sites, other local financial support, project readiness, strategic importance and financial need. The more your project meets the above criteria, the more competitive the application.
The application period for 2025 will be July 1 to September 30, 2025. If you wish to apply for funding for a project through MCIDA, the deadline will be Tuesday, September 23, 2025. No exceptions.
Email Michelle Bisbing at PMEDC with any questions or call our office at (570) 839-1992 Ext. 4.
Local Share Account Statewide Grant Program
The Monroe County Industrial Development Authority (MCIDA) is an eligible applicant for the Local Share Account (LSA)-Statewide program also made possible by gaming revenues. MCIDA has established guidelines to provide information and guidance to non-profits or municipalities interested in applying for funding.
The program opens for applications annually from September 1 through November 30. Please read and pay close attention to our policy: MCIDA LSA Statewide Application Policy-August 2025 MCIDA’s deadline will be 4:30 pm on Friday, November 14, 2025. No applications will be accepted after the deadline. No exceptions.
Contact our office at (570) 839-1992 with questions.
Multimodal Transportation Fund
The Multimodal Transportation Fund programs – both offered by the Commonwealth, one through the Pennsylvania Dept. of Transportation and the other through the PA Dept. of Community & Economic Development & the Commonwealth Financing Authority. This program targets transportation oriented projects.
PMEDC is currently facilitating MTF grants for:
- The Smithfield Gateway project in Smithfield Township
- Long Pond Road improvements in Tobyhanna Township
- The Exits 298-299 Area Improvement Plan in Pocono Township
- The Ridge at Swiftwater in Pocono Township
- Improvement of Intersection at SR611 and Bartonsville Avenue in Pocono Township
Redevelopment Capital Assistance Program
The Redevelopment Capital Assistance Program which is administered by Pennsylvania’s Office of the Budget. This program is accessible via a window of application period set at the discretion of the Governor and with selected projects awarded by the Governor. This program targets construction-oriented projects that do not fit with other programs.
PMEDC is currently facilitating RACP grants for:
- ESU Foundation
- The Smithfield Gateway project in Smithfield Township
- The Lackawanna Cut-Off Passenger Rail Restoration project
- Pocono Family YMCA
- St. Luke’s Monroe
- Lehigh Valley Health Network
- Monroe County Historical Association
- Sanofi
- Great Wolf Lodge
- Pocono Mountains Corporate Center South
- Downtown Stroudsburg Parking Facility
- Pocono International Raceway
- Monroe Career & Technical Institute
- Redevelopment of the former International Boiler Works property
Business Loans
MOBIL – Monroe County Business Improvement Loan
MOBIL Low Interest Revolving Loan Program
Monroe County small businesses can borrow up to $100,000
The funds can be used for:
- Acquisition
- Construction
- Infrastructure/site preparation
- Machinery/equipment
- Working capital
- Professional services
- Engineering, inspections
- Fees
- Environmental assessment
- Legal costs and closing costs
Program Documents can be downloaded here:
Click here for the MOBIL Program Guidelines
Click here for the MOBIL Program Application
Pennsylvania Industrial Development Authority
The PIDA Program provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of certified economic development organizations (CEDOs) that partner with PIDA to administer the program. PMEDC is the CEDO in Monroe County and interested applicants should contact us directly at (570) 839-1992.
Building PA
Building PA provides funding for the development of real estate assets within the Commonwealth. Funds will be loaned to experienced private sector real estate funds that will raise matching funds and invest in projects throughout the Commonwealth. PMEDC has been approved as a fund manager for the Building PA program. Contact Chuck Leonard at PMEDC for more information.
First Industries Fund
Agriculture and tourism are two of Pennsylvania’s largest industry segments. First Industries provides loan guarantees for these important industry sectors.
Industrial Revenue Bond
Industrial Revenue Bonds can be issued by Monroe County Industrial Development Authority for appropriate projects. For more basic information on Industrial Revenue Bonds click here.
NEPA Business Finance Center
The Northeast Pennsylvania Alliance has a Business Finance Center that can assist with SBA 504 and other low interest loans and even angel investment.
MetroAction
Ben Franklin Tech Partners
Ben Franklin Tech Partners accelerates the growth of innovative tech based companies and early stage companies with counseling and funding investments.
Tax Credit & Tax Increment Financing
Research and Development Tax Credit
Monroe County Revolving Loan Fund
Monroe County has created an industrial/business revolving loan fund administered through PMEDC and the Redevelopment Authority of the County of Monroe to provide low-interest, partial financing for eligible businesses and industries in designated portions of the county. The program can fund machinery or equipment, working capital, product development and pollution control equipment. Other uses can be considered on a case by case basis. The maximum loan amount is $100,000. Contact PMEDC directly for details on this program.
Click here for the MCRLF Program Guidelines
What is Tax Increment Financing (TIF)?
A method of project funding where borrowed funds are collateralized by future tax revenues generated by new development.
Why create a TIF?
- Stimulates the creation of new jobs
- Attracts new investment to the community
- Taxing bodies continue to receive the current tax revenue
- Generates new Earned Income Tax revenue
What can TIF fund?
Typically infrastructure improvements required for a project , such as sewer expansion & repair, storm drainage, road construction and water supply
What is the process for creating a TIF?
- Step 1: MCIDA makes a formal presentation to School District, Township/Borough and County.
- Step 2: School District, Township/Borough and County designate a representative to serve on a TIF Committee with MCIDA to discuss and review the details of the project along with the analysis of the revenue to be generated.
- Step 3: MCIDA submits a recommendation of the boundaries of the TIF along with the project plan to Township/Borough, County and School District. It must be decided which taxing body (the county or the borough) will be the creator of the TIF.
- Step 4: School District must adopt a resolution and affirmatively agree to participate in whole or in part in the TIF. This vote must occur before the public hearing held by the Township/Borough or the County, whichever is the creator of the TIF.
- Step 5: Township/Borough or County must hold a public meeting for interested parties to express their views on the proposed TIF. A 30-day notice of the public meeting must be sent to the School District and the other taxing body.
- Step 6: At least three weeks later, the creating taxing body must adopt an ordinance or resolution to create the TIF.
What is the role of the TIF Planning Committee?
- They review and provide input on the TIF Plan.
- Keep their respective boards informed of the process and bring questions back to the committee
- Decide which entity (the township or county) will actually create the TIF
What TIF is NOT
A tax break or incentive for the developer or company who locates in the TIF district. All property taxes are paid in full by the property owner.
Are there existing TIF’s in Monroe County?
Yes, there is one in Pocono Township, one in Tobyhanna Township and one in Smithfield Township.
Keystone Innovation Zones
Keystone Innovation Zones (KIZs) are designated zones that may be established in communities that host institutions of higher education. These zones are designed to foster innovation and create entrepreneurial opportunities. By bringing together education, community and economic development initiatives, local municipalities and businesses can focus on creating an environment to support company growth and formation.
Click here to find information on the Pocono Mountains KIZ
Are there other TIFs being considered in Monroe County?
Not at this time. If appropriate and requested for a specific opportunity, MCIDA will consider supporting a request to create another TIF District.
Smithfield TIF – TIF Ordinance adopted by Smithfield Township on August 28, 2018.
Click here to view a copy of the TIF Plan and the Exhibits: Smithfield TIF Plan
Click here to view a copy of the TIF Plan Exhibits:
Click here for a Fact Sheet on the Smithfield TIF:TIF Summary and Smithfield Project Overview
Click here to view the July 10, 2018 Public Hearing Presentation:Smithfield Gateway – Township Presentation (7-10-18)