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ENTERPRISE ZONE OF BUCKS COUNTY

BENSALEM TOWNSHIP ENTERPRISE ZONE

    The State Road Industrial area portion of the Enterprise Zone includes industrial districts southeast of Interstate 95 and the rail lines north of Station Avenue and northwest of State Road. This includes Liberty Bell Industrial Park, Delaware Expressway Industrial Park, and Expressway Industrial Park, as well as the area known as State Road Industrial Park situated southeast of State Road, south of America Drive with its western boundary along the Delaware River.  The Industrial Parks of Cornwells and Bridgewater were added by the Pennsylvania Department of Community and Economic Development on July 5, 2001

The state Enterprise Zone Program is designed to increase the quantity and quality of available job opportunities within an Enterprise Zone area. Designated Enterprise Zones are given priority consideration to facilitate identified business investment and job creation opportunities. the Enterprise Zone of Bucks County business development strategy is designed to maximize new private sector investment by optimally utilizing public sector resources available within Enterprise Zone areas.

The Enterprise Zone of Bucks County encompasses portions of six municipalities in Bucks County: Bensalem Township, Bristol Township, Bristol Borough, Falls Township, Morrisville Borough and Tullytown Borough. The total land area is in excess of 16 square miles. nearly one-third of the county's total labor force lives in the enterprise Zone communities.

The Enterprise Zone of Bucks County local business development plan is centered on five strategic objectives:
1. Provide technical and financial resources through "One-Stop-Shop" for small businesses and start-up businesses in the Enterprise Zone area;
2. Implement a Brownfields Revitalization program to reclaim or turn back to active use nearly 3 square miles of vacant or abandoned industrial property located in the Enterprise Zone area;
3. Design and implement a strategic marketing plan to better communicate to existing businesses in Enterprise Zone area, community residents and to attract new businesses;
4. Provide assistance to export businesses and support the long term development of a deep water port at USX Fairless site; and;
5. Create and maintain a comprehensive master plan for the Enterprise Zone area which takes into consideration such factors as quality of life, education and job training, infrastructure and transportation needs, zoning, natural resources and community development.

A primary mission of the Enterprise Zone is to provide the coordination and communication between the business community and the public sector. The Enterprise Zone of Bucks County can be effective in coordinating business needs (financial or technical) with the correct public sector agency and providing the business community with access to existing and new resources (financial and technical) available for business growth and expansion. The Enterprise Zone Program places a priority on assistance to businesses involved in industrial, manufacturing and export services.

Financial Incentives

-Enterprise Zone Assistance Programs (EZAP)

Revitalization Subsidy Fund
-$250,000 grant for eligible projects to "write down"
project costs
-matches projects which are utilizing Reclamation Fund or
Revitalization Loan
-eligible uses: infrastructure; environmental remediation;
site preparation or site clearance

-Enterprise Zone Assistance Programs (EZAP)

Small Business Capital Fund
-loans up to $500,000 for small businesses located in
Enterprise Zone for working capital or bridge financing
-3.50% interest rate for up to 36 months
-eligible uses; working capital; equipment purchase; minor
renovations; bridge financing
-businesses must have 15 or fewer employees or annual sales not exceeding $1 million

-Enterprise Zone Assistance Programs (EZAP)

Brownfields Revitalization Loan Fund
-loans up to $1 million to reuse/redevelop Brownfield
properties (abandoned, vacant or under-utilized industrial parcels)
-interest rate set by HUD (Section 108 Loan) for up to 20 years (15 years for building renovations)
-eligible uses: land and building acquisition; infrastructure
improvements; site clearance; construction; renovation;
environmental remediation

-Enterprise Zone Assistance Programs (EZAP)

Brownfields Reclamation Fund
-loans up to $1.5 million to reuse/redevelop Brownfield
properties (abandoned, vacant or under-utilized industrial parcels)
-3.50% interest rate for up to 30 months
-eligible uses; acquisition costs; construction; renovation;
site clearance and preparation; environmental remediation
-project must have identified reuse plan or end-user

-Enterprise Zone Tax Credit Program

provides tax credits to EX businesses making
investments in the rehabilitation, expansion or
improvement of existing buildings or land
eligible activities: land acquisition; pre-development costs; construction costs; site improvements; other
costs related to permanent improvements to land or buildings
20% of total project costs toward state liability

-Enterprise Zone Competitive Grant (Loan)

low-interest loan at 3.50% interest rate for up to 30%
of total project costs
in some cases, can be direct grant for infrastructure
and site improvements (public use)
eligible uses: building acquisition; construction;
renovation; machinery and equipment purchase;
(possible) working capital and training

-PIDA Financing

3.50% interest rate
reviewed by Enterprise Zone to confirm location in
designated area and program objectives

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