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CDFA Pennsylvania Financing Roundtable Newsletter - April 2017
April 12, 2017
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CDFA Pennsylvania Financing Roundtable Newsletter


BFTP Creates and Retains 4,052 Jobs in 2016
The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) has reported that 4,052 northeastern Pennsylvania jobs were created or retained as a result of its work in 2016, for a cumulative total of 44,799 job creations or retentions since the program's inception in 1983.

Proposed PA Budget Would Cut $815M in Spending
Among many other cuts, the budget includes a $131 million reduction in state prison operations; elimination of state funding for several popular economic development programs; and a $20.3 million, or 6.5 percent, cut in budgets for House and Senate operations.

Erie's Warner Theatre to Undergo Renovation
The project will expand the Warner's stage and add dressing rooms, new lighting, a new sound system and other amenities to the 86-year-old theater, which is state-owned but managed by Erie Events. The total cost of the renovation is expected to be $14.5 million.

Allentown's NIZ Collected $81M in Taxes Last Year
Fueled by $1 billion worth of new or proposed development, the 127-acre Neighborhood Improvement Zone is collecting nearly $81 million in taxes, dwarfing the estimated $22 million it was generating in 2011 before the zone went into effect.

PA is Redefining the Rust Belt
Historically, the term "Rust Belt" has been used to characterize a portion of the Midwestern U.S. plagued by a declining population, a weakened economy, and urban decay. Pennsylvania traditionally has been lumped into this category, but times have changed, and so has Pennsylvania.

Millions in Investments Will Support Erie Revitalization Efforts
Secretary Dennis Davin announced $3.6 million in new state investments designed to spur economic development and support revitalization throughout the City of Erie. This announcement follows the nearly $10 million in recent commitments from administration to support growth and development in Erie.

PA Awards Funding for Local Facade Programs
Announced in February 2017, DCED will provide $183,000 to the PA Route 6 Alliance to establish a façade and signage improvement program to target communities along the Route 6 corridor. The funding will allow for 32 façade projects and 50 signage projects to be completed.

What is the Future of Energy in PA?
Pennsylvania will always be well-known for its coal, manufacturing, and steel. These industries have provided the necessary framework to support the advanced industries of today and tomorrow. Modern efforts include investments in Natural Gas Liquids production and high-growth industries.

Upcoming Events

Intro Tax Increment Finance WebCourse
May 10 - 11, 2017 - Daily: 12:00 - 5:00 PM Eastern
This course brings TIF deal-making and best practices into focus through a two-day program targeting the entire TIF community including economic developers, public agency representatives, bond issuers, legal professionals, developers, financial advisors, and other stakeholders. 

CDFA & OSU Webcast: Using the Successes of Energy Finance to Guide Progress in Food Systems Finance
April 24, 2017 - 9:30 AM Eastern
The CDFA & OSU Webcast is a special one time offering. This webcast will cover the Energy Finance Landscape and explore how its successes may be applied to the Food Systems Landscape. This webcast will be run by students taking the graduate level Sustainable Financing class in the Department of City and Regional Planning at The Ohio State University.

Pennsylvania News

Ben Franklin Announces $300K for Regional Economic Development
Lehigh Valley Business | Apr. 6 | Economic Development | Innovation Finance

The Importance of Small Business to PA Communities
Cumberland Area Economic Development Corporation | Mar. 21 | Access to Capital | Economic Development | Local Finance Program

PA DCED Intends to Recover Money From Bankrupt Battery Company
Trib Live | Mar. 10 | Economic Development

New Additions to the Online Resource Database

2017 CDFA Pennsylvania Financing Roundtable Webinar
Access to Capital | Agriculture Finance | Bond Finance | Community Development | Development Finance Toolbox | Economic Development | Innovation Finance | Public-Private Partnership (P3) Financing | Tax Credits | Webcasts
This webinar features a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the Pennsylvania economy going forward. Learn from expert speakers Thomas Henson with NW Capital Markets, David Langlieb with Philadelphia Industrial Development Corporation, Melissa Stone with Harrisburg Regional Chamber, and Ryan Unger with Team Pennsylvania.


Premium Sponsor

NW Financial Group, LLC

For information about sponsoring the CDFA Pennsylvania Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300

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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • Ballard Spahr LLP
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • Miles & Stockbridge P.C.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers & Co.
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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