Charleroi, PA, September 28th, 2020 – The Mon Valley Alliance, a Certified Economic Development Organization, was awarded a 5-Year Regional Enterprise Zone (REZ) Designation for 14 municipalities through the Keystone Communities Program by the Pennsylvania Department of Community & Economic Development.
Municipalities participating in the Mid Mon Valley Regional Enterprise Zone are:
|Washington County |
City of Monongahela
West Brownsville Borough
| Fayette County |
Belle Vernon Borough
North Belle Vernon Borough
City of Monessen
West Newton Borough
“The REZ designation is a huge step forward for the participating communities as we work together to strengthen and build our economic base, bringing a higher level of prosperity to our area” said Ben Brown, CEO of the Alliance. “This designation provides numerous benefits to businesses investing in rehabilitating, expanding, or improving buildings or land and creating or retaining family sustaining jobs in the Zone. Those benefits include priority consideration on State government contracts and programs and access to the Enterprise Zone Tax Credit program. The tax credit program can award credits up to $500,000 on State tax liabilities, helping to bridge financing gaps on new investments and encouraging investment.”
The designation took effect July 22, 2020 and ends on July 31, 2025. The Alliance recently assisted six eligible projects in applications for tax credits totaling $2.4 million Dollars which, if approved, would result in over $21 million dollars of investments in the Zone and create an estimated 120 jobs.
“We are grateful to the Commonwealth and Governor Tom Wolf for approving the designation of the Mid Mon Valley Regional Enterprise Zone” said Alliance Chairman, John Easoz. “This will help to attract and encourage investment into our region as we continue our work to diversify and strengthen our economy and communities.”
Bill Lee, Mayor of Speers Borough, where three of the current projects are located added “We are pleased to work with the Alliance to increase the employment opportunities in the Speers Industrial Park and improve the quality of life for our residents.”
For more information on the REZ and the programs available, contact Jamie Colecchi, Director of Operations at (724) 565-5637 or firstname.lastname@example.org.