CREDC Receives Recertification from the Commonwealth of Pennsylvania
On: August 10, 2017
The Capital Region Economic Development Corporation (CREDC) has received approval from the Pennsylvania Department of Community & Economic Development to renew its certification as a Community and Economic Development Organization or CEDO.
CREDC met the certification requirements set forth by the Pennsylvania Industrial Development Authority (PIDA) and has been approved to continue administering the PIDA loan program to eligible businesses located in the three counties which it serves. Legislation passed in the fall of 2014 combined 6 economic development loan programs under the control of the PIDA board. The PIDA loan program now helps to provide financing options to both small and large businesses for a variety of projects including facility construction, machinery and equipment purchases and working capital needs.
The Department of Community and Economic Development began the certification program in 2009. “While CREDC has been serving as the access point to economic development financial assistance since its inception over three decades ago, it was only in 2009 that the certification process for accessing PIDA programs was established,” stated Melissa Stone, Vice President of Economic Development. “It demands high standards of experience, professionalism, ethics, and continuing education from every organization before permitting them to act as a CEDO. We must prove that we have met those standards and updated them every year.”
Since first becoming certified in 2009, CREDC has packaged nearly $75 million in loans and grants for local businesses and projects. This has leveraged over $160 million of private investment, which together created a total economic impact of nearly $240 million for our region. These projects impacted the retention or creation of close to 4,000 jobs.
The Capital Region Economic Development Corporation (CREDC), is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties. The group offers a variety of programs and resources to help attract, retain and expand business in the region. CREDC is a certified lender in Cumberland, Dauphin, and Perry counties.