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Pennsylvania State Senate
09/21/2024 08:36 PM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20150&cosponId=15743
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Senate Co-Sponsorship Memoranda

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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: December 10, 2014 10:55 AM
From: Senator Jay Costa
To: All Senate members
Subject: Creation of PA WORKS Fund
 
Please join me in co-sponsoring legislation introduced as SB 200 in the 2013-2014 legislative session. In the last session the bill was co-sponsored by Senators Brewster, Washington, Kitchen, Kasunic, Teplitz, Yudichak, Fontana, Stack, Ferlo, Hughes, Solobay, Blake, Tartaglione, Farnese, and Boscola.

The bill establishes the PA WORKS Fund to allow Pennsylvania to continue to make targeted investments in well-established programs with clear records of success. To complement our existing economic development loan and grant programs my bill would capitalize the PA WORKS Fund with $80 million from a dedicated funding source. 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 economy continues to need public investment to improve our lagging job creation numbers. It is critical that we pursue policies that stimulate the economy, encourage new businesses, and create jobs.

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.