Industrial Development AuthorityThe Cumberland County Industrial Development Authority (CCIDA) is an entity formed as a public instrumentality of the Commonwealth of Pennsylvania, organized and existing under the Industrial and Commercial Development Authority Law, as amended, now known as 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 and other services authorized to it by State law under the Economic Development Financing Law.Objective: Cumberland County Industrial Development Authority provides a variety of services to assist in the creation and retention of employment opportunities. CCIDA has authorization over financing options, access to grant funding and provides technical assistance to developers, industries, nonprofits and other economic development organizations.The goals of the CCIDA are: Retention & Strengthening of Existing BusinessesImproved Utilization & Development of Local InfrastructureCreation of Investment, Employment & Wealth in the CommunityWhat are the benefits for Banks?Banks receive the benefit of the borrower’s participation in other available programs 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.LEARN MOREFind eligible project and borrower information for tax-exempt financing.For information on the CCIDA’s Board of Directors.For information on the CCIDA’s Legal and Bond Counsel.