Test Drive Our New Site! We have some improvements in the works that we're excited for you to experience. Click here to try our new, faster, mobile friendly beta site. We will be maintaining our current version of the site thru the end of 2024, so you can switch back as our improvements continue.
Legislation Quick Search
Advanced Search
Pennsylvania State Senate
04/25/2024 11:22 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20130&cosponId=11049
Share:
Home / Senate Co-Sponsorship Memoranda

Senate Co-Sponsorship Memoranda

Subscribe to PaLegis Notifications
NEW!

Subscribe to receive notifications of new Co-Sponsorship Memos circulated

By Member | By Date | Keyword Search


Senate of Pennsylvania
Session of 2013 - 2014 Regular Session

MEMORANDUM

Posted: January 16, 2013 11:01 AM
From: Senator Jay Costa
To: All Senate members
Subject: Creation of PA WORKS Fund
 
Please join me in sponsoring legislation introduced as SB 692 in the 2011-2012 legislative session by Senators COSTA, HUGHES, KASUNIC, BOSCOLA, FONTANA, TARTAGLIONE, SOLOBAY, WOZNIAK, YUDICHAK, BREWSTER, FARNESE, LEACH and WASHINGTON, that creates the PA WORKS Fund. The fund would allow Pennsylvania to continue to make targeted investments in well-established programs with clear records of success.

Revolving loan funds, including the Pennsylvania Industrial Development Authority’s (PIDA) fund that provides land and building financing, and the Machinery and Equipment Loan Fund (MELF), continue to provide essential capital for new and expanding business investments. To complement these programs my bill would capitalize the PA WORKS Fund with $80 million from a dedicated funding source to maintain critical state investment programs. The funds would be reallocated annually as follows:
  • $30 million grant program. Consolidate the Opportunity Grant, Customized Job Training, and Infrastructure Development Program into a single program. Funds could be used for any form of investment including working capital, infrastructure, or training assistance.
  • $25 million for technology and manufacturing investment, including $15 million earmarked for direct grants to Ben Franklin Technology Partners and $7 million for Industrial Resource Centers.
  • $10 million for local development agencies
  • $10 million for local tourist promotion.
  • $5 million for International trade and investment assistance.

Pennsylvania’s economic recovery remains fragile and unsteady. It is critical that we pursue policies that stimulate the economy, move business forward and create jobs even in the midst of difficult fiscal times.

This legislation is one part of a legislative package called PA Works that is designed to create 28,000 new jobs, leverage over $2 billion in new private investment and save $150 million.

I hope you will join me in sponsoring this important legislation.
Thank you for your attention to this matter.


Introduced as SB200