Industrial Development Authority

Who We Are

The Cumberland County Industrial Development Authority (CCIDA) is an entity formed as a public instrumentality of the Commonwealth of Pennsylvania, organized and existing under the Economic Development Financing Law. The Authority was organized by the County of Cumberland and incorporated on August 4, 1969. The Authority works in close cooperation with the Cumberland Area Economic Development Corporation (CAEDC). It functions through its Board members and advisors and provides financing, grant management and other services authorized by State law under the Economic Development Financing Law.

Objective

The Cumberland County Industrial Development Authority provides a variety of services to assist in job creation and tax revenue growth in Cumberland County. The CCIDA has authority over tax and tax-exempt financing, access to grant and government loan funding and provides technical assistance to developers, industries, nonprofits and other economic development organizations.

The goals of the CCIDA are:

• Retention & Strengthening of Existing Businesses
• Improved Utilization & Development of Local Infrastructure
• Creation of Investment, Employment & Tax Revenue in the Community

What are the benefits for Banks?

Banks receive the benefit of a borrower’s participation in lending programs through the CCIDA and, to the extent tax-exempt financing is available, banks do not pay taxes on the income earned on the particular loan. Often banks will insist upon a loan being “bank qualified” which also affects advantageously the cost of money loaned by the bank.

What are the benefits for Customers?

Applicants to the CCIDA receive access to the full variety of programs available to them, either from the Commonwealth or Cumberland County or perhaps directly from the CCIDA itself. To the extent the Applicant qualifies, Applicants receive a lower, i.e., tax-free interest rate on the loan acquired. There may be additional advantages as well to the extent the CCIDA is involved in the promotion of economic development, promotion of public and private infrastructure, and/or production and development of available facilities such as within an Authority sponsored commerce or industrial park.