RIDC catalyzes and supports economic growth through high quality job creation, real estate development and financing of projects that advance the public interest – developing real estate to capture emerging and existing growth opportunities across diverse industry sectors.
Strategic Investment Fund
SIF is a private sector source of financing for investments and loans to projects with the potential of creating significant economic impacts in communities around the 12-county region of Southwest Pennsylvania.
Founded in 1996 and now managed by RIDC, the Fund’s objectives include job creation, community development and elimination of urban blight. Its purpose is to fill gaps in financing of projects that have the potential to spark regional economic growth, are integral to the growth of R&D-driven companies, or that provide other opportunities to benefit local communities and the regional economy.
Eligible uses of funds include such things as acquisition of real property, land development and infrastructure, rehabilitation or new construction, soft costs, FF&E, or working capital. Loans amounts may range from $500,000 to $8 million.
For more details about the program and how to apply, contact Jeni Cooper, RIDC’s Director of Community Investment, at jcooper@ridc.org.
Pennsylvania Industrial Development Authority
The Pennsylvania Industrial Development Authority (PIDA) provides low-interest loans and lines of credit for eligible businesses that are committed to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities.
RIDC can assist companies in obtaining loans to finance costs associated with land and building acquisition, construction and renovation costs, machinery and equipment purchases, working capital and accounts receivable. These loans are available to companies throughout the region that meet the program’s criteria, whether or not they are located in an RIDC property.
How to Apply
RIDC will work with you to determine whether or not the PIDA loan program can assist with financing the needs of your business and will discuss with you in detail how the application process works.
For information on eligibility, contact RIDC’s Director of Community Investment, Jeni Cooper, at jcooper@ridc.org.
